Ball (BALL) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
Document and Entity Information
Entity Registrant Name	BALL CORP
Entity Central Index Key	9,389
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		351,784,934
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS shares in Thousands, $ in Millions		May 16, 2017	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
Net sales			$ 2,855	$ 2,030	$ 5,328	$ 3,785
Costs and expenses
Cost of sales (excluding depreciation and amortization)			(2,270)	(1,596)	(4,245)	(3,012)
Depreciation and amortization			(229)	(78)	(377)	(153)
Selling, general and administrative			(128)	(105)	(271)	(213)
Business consolidation and other activities			(41)	28	(96)	(239)
Total costs and expenses			(2,668)	(1,751)	(4,989)	(3,617)
Earnings (loss) before interest and taxes			187	279	339	168
Interest expense			(74)	(41)	(142)	(79)
Debt refinancing and other costs			(1)	(46)	(1)	(106)
Total interest expense			(75)	(87)	(143)	(185)
Earnings (loss) before taxes			112	192	196	(17)
Tax (provision) benefit			(22)	114	(44)	197
Equity in results of affiliates, net of tax			10	1	18
Net earnings			100	307	170	180
Net earnings attributable to noncontrolling interests			(1)		(3)
Net earnings attributable to Ball Corporation			$ 99	$ 307	$ 167	$ 180
Earnings per share:
Basic (in dollars per share) | $ / shares	[1]		$ 0.28	$ 1.08	$ 0.48	$ 0.63
Diluted (in dollars per share) | $ / shares	[1]		$ 0.28	$ 1.06	$ 0.47	$ 0.62
Weighted average shares outstanding (000s):
Basic (in shares) | shares	[1]		351,066	284,076	350,560	283,832
Diluted (in shares) | shares	[1]		358,979	290,454	358,506	290,330
Stock split ratio		2
[1]	Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

UNAUDITED CONDENSED CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS)
Net earnings (loss)	$ 100	$ 307	$ 170	$ 180
Other comprehensive earnings (loss):
Foreign currency translation adjustment	(71)	(29)	13
Pension and other postretirement benefits	(24)	64	(18)	63
Effective financial derivatives	(35)	12	16	11
Total other comprehensive earnings (loss)	(130)	47	11	74
Income tax (provision) benefit	24	(31)	11	(27)
Total other comprehensive earnings (loss), net of tax	(106)	16	22	47
Total comprehensive earnings (loss)	(6)	323	192	227
Comprehensive (earnings) loss attributable to noncontrolling interests	(1)		(3)
Comprehensive earnings (loss) attributable to Ball Corporation	$ (7)	$ 323	$ 189	$ 227

UNAUDITED CONDENSED CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS $ in Millions		May 16, 2017	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Current assets
Cash and cash equivalents			$ 433	$ 597	$ 6,399	$ 224
Receivables, net			1,637	1,491
Inventories, net			1,524	1,413
Other current assets			171	152
Total current assets			3,765	3,653
Noncurrent assets
Property, plant and equipment, net			4,424	4,387
Goodwill			4,858	5,095
Intangible assets, net			2,512	1,934
Other assets			1,162	1,104
Total assets			16,721	16,173
Current liabilities
Short-term debt and current portion of long-term debt			322	222
Accounts payable			2,146	2,033
Accrued employee costs			291	315
Other current liabilities			591	399
Total current liabilities			3,350	2,969
Noncurrent liabilities
Long-term debt			7,226	7,310
Employee benefit obligations			1,429	1,497
Deferred taxes			633	439
Other liabilities			373	417
Total liabilities			13,011	12,632
Shareholders' equity
Common stock (669,960,150 shares issued - 2017; 668,504,350 shares issued - 2016)	[1]		1,060	1,038
Retained earnings			4,849	4,739
Accumulated other comprehensive earnings (loss)			(919)	(941)
Treasury stock, at cost (318,355,478 shares - 2017; 318,774,098 shares - 2016)	[1]		(1,386)	(1,401)
Total Ball Corporation shareholders' equity			3,604	3,435
Noncontrolling interests			106	106
Total shareholders' equity			3,710	3,541
Total liabilities and shareholders' equity			$ 16,721	$ 16,173
Stock split ratio		2
[1]	Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

UNAUDITED CONDENSED CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Jun. 30, 2017	Dec. 31, 2016
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, shares issued	669,960,150	668,504,350
Treasury stock, common shares	318,355,478	318,774,098

UNAUDITED CONDENSED CONSOLIDAT6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities
Net earnings (loss)		$ 170	$ 180
Adjustments to reconcile net earnings (loss) to cash provided by (used in) continuing operating activities:
Depreciation and amortization		377	153
Business consolidation and other activities		96	239
Deferred tax provision (benefit)		(59)	(236)
Other, net		(147)	140
Changes in working capital components, net of acquisitions and dispositions (a)	[1]	(174)	(440)
Cash provided by (used in) operating activities		263	36
Cash Flows from Investing Activities
Capital expenditures		(240)	(273)
Business acquisitions, net of cash acquired			413
Business dispositions, net of cash sold		31	2,815
Other, net		2	(86)
Cash provided by (used in) investing activities		(207)	2,869
Cash Flows from Financing Activities
Long-term borrowings		290	3,824
Repayments of long-term borrowings		(561)	(621)
Net change in short-term borrowings		91	250
Proceeds from issuances of common stock, net of shares used for taxes		14	23
Acquisitions of treasury stock		(3)	(98)
Common stock dividends		(58)	(37)
Other, net		(1)	(21)
Cash provided by (used in) financing activities		(228)	3,320
Effect of exchange rate changes on cash		8	(50)
Change in cash and cash equivalents		(164)	6,175
Cash and cash equivalents - beginning of period		597	224
Cash and cash equivalents - end of period		$ 433	$ 6,399
[1]	Includes payments of costs associated with the acquisition of Rexam and the sale of the Divestment Business.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Basis of Presentation
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Ball Corporation and its controlled affiliates, including its consolidated variable interest entities (collectively Ball, the company, we or our), and have been prepared by the company. Certain information and footnote disclosures, including critical and significant accounting policies normally included in financial statements prepared in accordance with generally accepted accounting principles, have been condensed or omitted for this quarterly presentation. Results of operations for the periods shown are not necessarily indicative of results for the year, particularly in view of the seasonality in our packaging segments, the variability of contract revenues in the company’s aerospace segment, the acquisition of Rexam PLC (Rexam) and divestiture of certain assets and liabilities of the combined business (the Divestment Business) on June 30, 2016. These unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and the notes there to included in the company’s Annual Report on Form 10-K filed on March 2, 2017, pursuant to Section 13 of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2016 (annual report). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires Ball’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. These estimates are based on historical experience and various assumptions believed to be reasonable under the circumstances. Ball’s management evaluates these estimates on an ongoing basis and adjusts or revises the estimates as circumstances change. As future events and their impacts cannot be determined with precision, actual results may differ from these estimates. In the opinion of management, the financial statements reflect all adjustments necessary to fairly state the results of the periods presented. Certain prior period amounts have been reclassified in order to conform to the current period presentation. Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements During the third and fourth quarters of 2016, Ball management identified errors in the determination of the tax basis related to the gain on the sale of the Divestment Business, the amount of gain reported on the sale of the Divestment Business, and payroll taxes for certain compensation arrangements associated with the Rexam acquisition. The corrections of these errors impacted the unaudited condensed consolidated financial statements for the second quarter of 2016. The company assessed the applicable guidance issued by the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) and concluded these misstatements were not material, individually or in the aggregate, to Ball’s unaudited condensed consolidated financial statements for the aforementioned interim periods. Accordingly, the correction of these immaterial errors was reflected in the quarterly unaudited financial data included within our 2016 annual report. These revisions have been reflected in the comparative 2016 condensed consolidated financial statements. The following table reconciles the amounts as previously reported in our second quarter of 2016 condensed consolidated financial statements to the corresponding revised amounts presented herein: ($ in millions, except per share amounts) Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 2016 As Previously Reported Adjustments (a) As Revised As Previously Reported Adjustments (a) As Revised Business consolidation and other activities $ 27 $ 1 $ 28 $ (240) $ 1 $ (239) Earnings before interest and taxes 278 1 279 167 1 168 Earnings (loss) before taxes 191 1 192 (18) 1 (17) Tax (provision) benefit 146 (32) 114 229 (32) 197 Net earnings 338 (31) 307 211 (31) 180 Net earnings attributable to Ball Corporation 338 (31) 307 211 (31) 180 Basic earnings per share (b) 1.19 (0.11) 1.08 0.74 (0.11) 0.63 Diluted earnings per share (b) 1.17 (0.11) 1.06 0.73 (0.11) 0.62 (a) The company revised the amounts originally reported for the second quarter of 2016 for the following items: · Recorded $13 million of expense in business consolidation and other activities for payroll tax obligations associated with compensation arrangements for the Rexam acquisition that should have been accrued upon the change of control in the second quarter of 2016. The company identified this error during the third quarter of 2016, and recorded and disclosed the correction in the third quarter of 2016 as an out-of-period adjustment. · Recorded $14 million of additional net gain on the sale of the Divestment Business in business consolidation and other activities for assets received by the buyer that should have been included in the amount owed to the company and liabilities that should have been derecognized by the company at the date of sale, as well as other insignificant items. · Recorded $30 million of tax expense associated with using an incorrect tax basis for the gain on the sale of the Divestment Business and an additional $2 million of tax expense associated with the tax effects of the adjustments noted above. (b) Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

Accounting Pronouncements

Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Accounting Pronouncements
Accounting Pronouncements	2. Accounting Pronouncements Recently Adopted Accounting Standards In January 2017, amendments to existing accounting guidance were issued simplifying an entity’s subsequent goodwill measurement by eliminating Step 2, which requires a hypothetical purchase price allocation, from its annual or interim goodwill impairment test. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. This guidance is required to be applied prospectively on January 1, 2020, and early adoption is permitted. The company elected to early adopt this guidance effective January 1, 2017, and it did not have a material impact on the company’s unaudited condensed consolidated financial statements. In March 2016, final accounting guidance was issued clarifying that the assessment of whether an embedded contingent put or call option is clearly and closely related to the debt host only requires an analysis of the four-step decision sequence outlined in the accounting standards codification. Consequently, when a contingent put or call option embedded in a debt instrument would be evaluated for possible separate accounting as a derivative instrument, the nature of the exercise contingency would be disregarded. This guidance was applied on a modified retrospective basis on January 1, 2017, and did not have an effect on the company’s unaudited condensed consolidated financial statements. In March 2016, final accounting guidance was issued eliminating the requirement to retrospectively apply the equity method in previous periods when an investor initially obtains significant influence over an investee. The new guidance requires the investor to apply the equity method prospectively from the date the investment qualifies for the equity method. The investor will add the carrying value of the existing investment to the cost of the additional investment to determine the initial cost basis of the equity method investment. This guidance was applied prospectively on January 1, 2017, and did not have a material effect on the company’s unaudited condensed consolidated financial statements. In March 2016, amendments to existing accounting guidance were issued to simplify various aspects related to how share-based payments are accounted for and presented in the consolidated financial statements. The company adopted these amendments on January 1, 2017, as discussed below, which did not have a material effect on the company’s unaudited condensed consolidated financial statements. · All excess tax benefits and tax deficiencies that were previously recognized in common stock are now recognized as income tax provisions (benefits) in the income statement as a discrete item. As required, this change was applied prospectively for settlements occurring after the adoption of the guidance on January 1, 2017. · Any prior period excess tax benefits that did not reduce taxes payable in the period in which they arose were required to be recorded on a modified retrospective basis, with a cumulative effect adjustment to opening retained earnings. However, the company was able to reduce taxes payable for all previous excess tax benefits and, therefore, was not required to record a cumulative effect adjustment. · The company elected to use a prospective approach to report all tax-related cash flows resulting from share-based payments as operating activities on the statement of cash flows and, therefore, no adjustments were made to prior periods. Previously, excess tax benefits were reported as part of financing activities. · The company elected to account for forfeitures as they occur. No cumulative effect adjustment was required as the amount calculated was immaterial. In March 2016, accounting guidance was issued regarding the effect of derivative contract novations on existing hedge accounting relationships. The amendments clarify that a change in the counterparty to a derivative instrument designated as a hedging instrument does not in and of itself require dedesignation of that hedging relationship, provided that all other hedge accounting criteria continue to be met. The guidance was applied prospectively on January 1, 2017, and it did not have a material effect on the company’s unaudited condensed consolidated financial statements. New Accounting Guidance In May 2017, amendments to existing accounting guidance were issued to provide clarity and reduce diversity in practice, cost and complexity when applying guidance in Topic 718, Stock Compensation, regarding modifications to the terms or conditions of a share-based payment award. The amendments specify that all changes to the terms and conditions of a share-based payment award will require an entity to apply modification accounting in Topic 718, unless all of the following are met: (1) the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified, (2) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified and (3) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. This guidance will be effective for annual reporting periods beginning after January 1, 2018, and early adoption is permitted. The company does not expect the amendments to have a material impact on its consolidated financial statements, and the company has not elected to early adopt this new accounting standard. In March 2017, amendments to existing accounting guidance were issued to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost, which requires employers to report the service cost component in the same line item as other compensation costs arising from services rendered by the associated employees during the period. The other components of net periodic pension and benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. The amendments also permit only the service cost component of net benefit cost to be eligible for capitalization. This guidance is required to be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively for the capitalization of the service cost component. Employers can elect a practical expedient that permits use of the amounts disclosed in its pension footnote for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. The guidance is effective for Ball on January 1, 2018, and early adoption is permitted. The company has not elected to early adopt the new standard and is currently assessing the impact this guidance will have on its consolidated financial statements. In February 2017, amendments to existing accounting guidance were issued to clarify the scope of ASC Subtopic 610-20, Other Income−Gains and Losses from the Derecognition of Nonfinancial Assets and to add guidance for partial sales of nonfinancial assets. The guidance requires that all entities account for the derecognition of a business in accordance with ASC 810, including instances in which the business is considered to be in substance real estate. This guidance is required to be applied on January 1, 2018, using a full retrospective approach or a modified retrospective approach and early adoption is permitted. The company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements . In January 2017, amendments to existing accounting guidance were issued to further clarify the definition of a business in determining whether or not a company has acquired or sold a business. The amendments provide a screen to determine when an integrated set of assets and activities (collectively referred to as a “set”) is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. If the screen is not met, the amendments in this update (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. The amendments also narrow the definition of the term “output” so that the term is consistent with how outputs are described in Topic 606. The guidance is required to be applied prospectively for Ball on January 1, 2018, and early adoption is permitted. The company does not expect these amendments to have a material impact on its consolidated financial statements, and the company has not elected to early adopt this new accounting standard. In November 2016, accounting guidance was issued that will require the statement of cash flows to explain the change in the total of cash, cash equivalents and restricted cash or restricted cash equivalents. In addition, restricted cash and restricted cash equivalents will need to be included in a cash reconciliation of beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance is required to be applied retrospectively on January 1, 2018. The company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements . In October 2016, amendments to existing accounting guidance were issued that will require entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, as opposed to when the asset is sold. The amendments also eliminate the exception for an intra-entity transfer of an asset other than inventory. This guidance is required to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings on January 1, 2018. The company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements . In August 2016, accounting guidance was issued addressing the following eight specific cash flow issues: · Debt prepayment or debt extinguishment costs · Settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing · Contingent consideration payments made after a business combination · Proceeds from the settlement of insurance claims · Proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies) · Distributions received from equity method investees · Beneficial interests in securitization transactions · Separately identifiable cash flows and application of the predominance principle This guidance is required to be applied retrospectively on January 1, 2018. The company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements. In June 2016, amendments requiring financial assets or a group of financial assets measured at amortized cost basis to be presented at the net amount expected to be collected were finalized. The allowance for credit losses is a valuation account that will be deducted from the amortized cost basis of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. This guidance affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables and any other financial assets not excluded from the scope that have the contractual right to receive cash. The guidance will be effective on January 1, 2020. The company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements. In February 2016, lease accounting guidance was issued which, for operating leases, will require a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The guidance also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. The guidance will be effective for Ball on January 1, 2019. The company is currently assessing the impact the adoption of this standard will have on its consolidated financial statements and it is expected that a material amount of assets and liabilities will be recorded in the consolidated balance sheet. In January 2016, accounting guidance was issued on the classification and measurement of financial assets and liabilities (equity securities and financial liabilities) under the fair value option and the presentation and disclosure requirements for financial instruments. The guidance modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do not result in consolidation and are not accounted under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. An exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value under the guidance and, as such, these investments may be measured at cost. The guidance will be effective on January 1, 2018. The company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements. New Revenue Guidance In May 2014, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board jointly issued new revenue recognition guidance which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The new guidance contains a more robust framework for addressing revenue issues and is intended to remove inconsistencies in existing guidance and improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets. Under the new standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB approved the deferral of the effective date of the new revenue recognition guidance by one year. The new standard is effective for annual reporting periods beginning after December 15, 2017. In March 2016, the principal versus agent guidance within the new revenue recognition standard was amended to clarify how an entity should identify the unit of accounting for the principal versus agent evaluation. The new standard requires an entity to determine whether it is a principal or an agent in a transaction in which another party is involved in providing goods or services to a customer by evaluating the nature of its promise to the customer. An entity is a principal and records revenue on a gross basis if it controls the promised good or service before transferring the good or service to the customer. An entity is an agent and records as revenue the net amount it retains for its agency services if its role is to arrange for another entity to provide the goods or services. In May 2016, narrow scope amendments and practical expedients were issued to clarify the new revenue recognition standard. The amendments clarify the collectability criterion of the revenue standard wherein an entity is allowed to recognize revenue in the amount of consideration received when the following criteria are met: the entity has transferred control of the goods or services, the entity has stopped transferring goods or services, or has no obligation under the contract to transfer additional goods or services, and the consideration received from the customer is nonrefundable. The amendments also clarify the following: the fair value of noncash consideration should be measured at contract inception when determining the transaction price, allows an entity to make an accounting policy election to exclude from the transaction price certain types of taxes collected from a customer when the company discloses that policy, for contracts to be considered completed at transition, all (or substantially all) of the revenue must have been recognized under legacy GAAP, and a practical expedient is provided in which an entity can avoid having to evaluate the effects of each contract modification from contract inception through the beginning of the earliest period presented when accounting for contracts that were modified prior to adoption under both the full and modified retrospective transition approach. In December 2016, technical corrections and improvements were issued on a variety of topics within the new revenue recognition standard. The corrections represent minor corrections or improvements and are not expected to have a significant impact on accounting practices. The amendments clarify the following: guarantee fees within the scope of Topic 460 are not within the scope of Topic 606, impairment testing for capitalized contract costs should consider both expected contract renewals and extensions and unrecognized consideration already received along with expected future consideration, the sequence of impairment testing for assets within the scope of different Topics, allowance of an accounting policy election to determine the provision for losses at the performance obligation level instead of the contract level, exclude all topics within Topic 944 from the scope of Topic 606, allow exemptions from the disclosures of remaining performance obligations, disclosure of prior-period performance obligations pertains to all performance obligations and is not limited to those with corresponding contract balances, and better aligns accounting guidance and examples within the guidance. The new guidance will be effective for Ball on January 1, 2018, and will supersede the current revenue recognition guidance, including industry-specific guidance. Entities have the option of using either a full retrospective or modified retrospective approach for the adoption of the standard. We currently anticipate adopting the standard on January 1, 2018, using the modified retrospective method. We established a cross-functional implementation team, which includes representatives from all of our business segments. We utilized a bottoms-up approach to analyze the impact of the new standard on our contracts with customers by reviewing our current accounting policies and practices to identify potential differences that would result from applying the requirements of the new standard to revenues arising from such contracts. In addition, we are in the process of identifying the appropriate changes to our business processes, systems and controls to support recognition and disclosure under the standard upon adoption. While we are continuing to assess all potential impacts of the new standard, we currently believe the most significant impact will be in the way we account for revenue in our metal beverage packaging segments and, to a lesser extent, in our food and aerosol packaging segment. We currently recognize revenue from many of our contracts in these segments when the four established criteria of revenue recognition under the current guidance have been met, generally occurring upon shipment or delivery of goods. Under the new guidance we expect to recognize revenue from many of these contracts over time, which will accelerate the timing of revenue recognition from these arrangements, such that some portion of revenue will be recognized prior to shipment or delivery of goods. In addition to accelerating the timing of recording revenue, we expect corresponding decreases in inventories with an offsetting increase to unbilled receivables to the extent the amounts have not yet been invoiced to the customer. Relative to the aerospace segment, at this time we do not expect the implementation of the new standard to materially impact the manner in which we currently recognize revenue as the standard supports the recognition of revenue over time under the “cost-to-cost” method, which is consistent with the current revenue recognition model utilized for the majority of our contracts in this segment. We expect revenue arising from the majority of our contracts to continue to be recognized over time because of the continuous transfer of control to the customer. However, due to the complexity of most of our aerospace contracts, the actual revenue recognition treatment required under the new standard will be dependent on contract-specific terms and may vary in some instances from recognition over time. Finally, we are still evaluating performance obligations under the new standard as compared with deliverables and separate units of account previously identified. The results of this evaluation may impact the timing of revenue recognition across all of our business segments. We are complete with our initial impact assessment, which is based on a review of sample contracts representative of the range of our existing contracts. During 2017, Ball will continue to finalize the initial impact assessment and design and implement changes to processes, systems and internal controls to be in a position to report under the new accounting standard upon adoption in the first quarter of 2018.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2017
Business Segment Information
Business Segment Information	3. Business Segment Information During the third quarter of 2016, Ball made certain segment realignments as a result of the Rexam acquisition and sale of Ball’s existing beverage packaging businesses and select beverage can assets of Rexam (the Divestment Business) to align with how Ball now manages its businesses. Ball has retrospectively adjusted prior period amounts to conform to the current segment presentation. Ball’s operations are organized and reviewed by management along its product lines and geographical areas and presented in the five reportable segments outlined below: Beverage packaging, North and Central America : Consists of operations in the U.S., Canada and Mexico that manufacture and sell metal beverage containers. Beverage packaging, South America : Consists of operations in Brazil, Argentina and Chile that manufacture and sell metal beverage containers. Beverage packaging, Europe : Consists of operations in numerous countries in Europe, including Russia, that manufacture and sell metal beverage containers. Food and aerosol packaging : Consists of operations in the U.S., Europe, Canada, Mexico, Argentina and India that manufacture and sell steel food and aerosol containers, extruded aluminum aerosol containers and aluminum slugs. Aerospace : Consists of operations that manufacture and sell aerospace and other related products and provide services used in the defense, civil space and commercial space industries. Other consists of non-reportable segments in Asia Pacific and AMEA that manufacture and sell metal beverage containers, undistributed corporate expenses, intercompany eliminations and other business activities. The accounting policies of the segments are the same as those in the consolidated financial statements and are discussed in Note 1. The company also has investments in operations in Guatemala, Panama, South Korea, the U.S. and Vietnam that are accounted for under the equity method of accounting and, accordingly, those results are not included in segment sales or earnings. Summary of Business by Segment Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Net sales Beverage packaging, North and Central America $ 1,151 $ 844 $ 2,100 $ 1,577 Beverage packaging, South America 349 133 720 258 Beverage packaging, Europe 665 479 1,173 835 Food and aerosol packaging 274 298 546 583 Aerospace 257 193 493 373 Reportable segment sales 2,696 1,947 5,032 3,626 Other 159 83 296 159 Net sales $ 2,855 $ 2,030 $ 5,328 $ 3,785 Comparable operating earnings Beverage packaging, North and Central America (b) $ 156 $ 118 $ 279 $ 211 Beverage packaging, South America (b) 69 22 127 39 Beverage packaging, Europe (b) 63 74 110 113 Food and aerosol packaging 25 33 46 53 Aerospace 26 19 47 37 Reportable segment comparable operating earnings 339 266 609 453 Reconciling items Other (a) (b) (21) (15) (52) (46) Business consolidation and other activities (41) 28 (96) (239) Amortization of acquired Rexam intangibles (51) — (83) — Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation (39) — (39) — Earnings before interest and taxes 187 279 339 168 Interest expense (74) (41) (142) (79) Debt refinancing and other costs (1) (46) (1) (106) Total interest expense (75) (87) (143) (185) Earnings (loss) before taxes 112 192 196 (17) Tax (provision) benefit (22) 114 (44) 197 Equity in results of affiliates, net of tax 10 1 18 — Net earnings 100 307 170 180 Net earnings attributable to noncontrolling interests (1) — (3) — Net earnings attributable to Ball Corporation $ 99 $ 307 $ 167 $ 180 (a) Includes undistributed corporate expenses, net, of $32 million and $12 million for the three months ended June 30, 2017 and 2016, respectively, and $77 million and $35 million for the six months ended June 30, 2017 and 2016, respectively. (b) The three months ended June 30, 2017, includes catch-up depreciation for the three months ended March 31, 2017, from the finalization of fair values and useful lives for the Rexam acquisition associated with the following segments: $8 million for beverage packaging, Europe; $1 million for beverage packaging, North and Central America; $1 million for beverage packaging, South America; and $1 million for other. The company does not disclose total assets by segment as it is not provided to the chief operating decision maker.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2017
Acquisitions and Dispositions
Acquisitions and Dispositions	4. Acquisitions and Dispositions Rexam On June 30, 2016, Ball acquired 100 percent of the outstanding shares of Rexam PLC (Rexam), a U.K. based beverage container manufacturer, for the purchase price of £2.9 billion ($3.8 billion) in cash, and 32.25 million treasury shares of Ball Corporation common stock (valued at $71.39 per share for a total share consideration of $2.3 billion, before giving effect to the 2 for 1 stock split which occurred in May of 2017). Additionally, the company recorded $24 million of consideration for stock-based compensation. The common shares were valued using the price on the date of acquisition and were presented as a reduction of treasury stock. The cash portion of the acquisition price was paid in July 2016 using proceeds from restricted cash held in escrow and borrowings under the $1.4 billion and €1.1 billion Term A loan facilities obtained in March 2016. The consummation of the acquisition was subject to, among other things, approval from Ball’s shareholders, approval from Rexam’s shareholders, certain regulatory approvals and satisfaction of other customary closing conditions. In order to satisfy certain regulatory requirements, the company was required to sell a portion of Ball’s existing beverage packaging business and select beverage can assets of the Divestment Business. The sale of the Divestment Business to Ardagh Group S.A. (Ardagh) was completed concurrently on June 30, 2016, for $3.42 billion, subject to customary closing adjustments and certain transaction service arrangements between Ball and Ardagh during a transition period. The sale agreement with Ardagh in respect of the Divestment Business contains customary representations, warranties, covenants and provisions allocating liabilities, as well as indemnification obligations to and from Ardagh, pursuant to which claims may be made when applicable. A pretax gain on sale of $330 million was recorded within business consolidation and other activities and is subject to finalization of working capital and other items. As a condition of the sale of the Divestment Business to Ardagh, the company has guaranteed a minimum volume of sales for the Divestment Business in 2017, whereby the company would be required to pay Ardagh up to $75 million based upon any shortfall of 2017 sales relative to an agreed-upon minimum threshold. Additionally, the company entered into a supply agreement with Ardagh to manufacture and sell can ends to the Divestment Business in Brazil in exchange for proceeds of $103 million. In connection with the sale of the Divestment Business to Ardagh on June 30, 2016, the company provided indemnifications for the uncertain tax positions of the Divestment Business sold to Ardagh. These indemnifications were accounted for as guarantees and the company initially recognized a liability equal to the fair value of the indemnities. There are no limitations on the maximum potential future payments the company could be obligated to make and, based on the nature of the indemnified items, the company is unable to reasonably estimate its potential exposure under these items. During the three and six months ended June 30, 2017, the company recorded $7 million and $34 million, respectively, in business consolidation and other activities for an increase in the estimated amount of the claims covered by indemnifications for tax matters provided to the buyer in relation to the Divestment Business. The estimated value of the claims under these indemnities is $57 million at June 30, 2017, and the liabilities have been recorded in other current liabilities. The portion of the Divestment Business composed of Ball's legacy beverage packaging businesses had earnings before taxes as shown below. These earnings before taxes may not be indicative of the earnings before taxes that would be generated by these components of the Divestment Business in future periods. Additionally, due to complexities associated with how Ball's legacy beverage packaging businesses included in the Divestment Business were integrated into Ball Corporation in historical periods, these earnings before taxes may not be indicative of the earnings before taxes of these Divestment Business components had they been operated as a stand-alone business or businesses: Three Months Ended Six Months Ended ($ in millions) June 30, 2016 June 30, 2016 Earnings before taxes $ 67 $ 104 Earnings before taxes attributable to Ball Corporation 67 104 The Rexam portion of the Divestment Business is not included in the table above as the financial information is not included in Ball’s historical results. A total of 54 manufacturing facilities were acquired from Rexam, including 17 in North America, 20 in Europe, 12 in South America and five in the AMEA region. A total of 22 manufacturing facilities were sold as part of the Divestment Business, including 12 Ball facilities and 10 Rexam facilities. Of these 22 facilities, eight are located in North America, 12 are located in Europe and two are located in Brazil. The company had a total of 75 beverage manufacturing facilities and joint ventures after the completion of the Rexam acquisition and sale of the Divestment Business. This acquisition aligns with Ball’s Drive for 10 vision, including the company’s long-standing capital allocation strategy and EVA philosophy. The combination created the world’s largest supplier of beverage containers allowing the company to better serve its customers with its enhanced geographic footprint and innovative product offerings. In particular, Ball expects the acquisition to continue to deliver long-term shareholder value through optimizing global sourcing, reducing general and administrative expenses, sharing best practices to improve production efficiencies and leveraging its footprint to lower freight, logistics and warehousing costs. In addition, further value can continue to be created through balance sheet improvements with a focus on working capital and inventory management and sustainability priorities as a result of the larger plant network. The acquisition was accounted for as a business combination and its results of operations have been included in the company’s consolidated statements of earnings and cash flows from the date of acquisition. In total, pretax charges of $216 million have been incurred for transaction costs associated with the acquisition which, in accordance with current accounting guidance, were expensed as incurred. The transaction costs are included in the business consolidation and other activities line of the unaudited condensed consolidated statement of earnings. In connection with the acquisition, Ball assumed Rexam debt of approximately $2.8 billion of which approximately $2.7 billion was extinguished during July and August 2016. The proceeds from the sale of the Divestment Business were partially used to extinguish the assumed Rexam debt. During the three months ended June 30, 2017, the company finalized the allocation of the purchase price for the Rexam acquisition. The measurement period adjustments to the acquisition fair values and useful lives for acquired identifiable intangible assets and fixed assets were due to the refinement of our valuation models, assumptions and inputs. The updated assumptions and inputs incorporated additional information obtained subsequent to the closing of the transaction related to facts and circumstances that existed as of the acquisition date. The significant final purchase price allocation changes during the three months ended June 30, 2017, included an increase of $590 million in the value of intangible assets, an increase of $31 million in the value of investments in affiliates and a decrease of $384 million in the value of goodwill. Long-term deferred tax liabilities also increased by $221 million primarily due to the tax effect of these changes to the final purchase price allocation. During the three months ended June 30, 2017, cumulative catch-up amortization recorded as a result of the increase to intangible assets was $23 million, of which $8 million related to the three months ended March 31, 2017, and $15 million related to the six months ended December 31, 2016. During the three months ended June 30, 2017, cumulative catch-up depreciation recorded as a result of changes in the values and useful lives of fixed assets was $35 million, of which $11 million related to the three months ended March 31, 2017, and $24 million related to the six months ended December 31, 2016. The cumulative impacts of all adjustments have been reflected in the unaudited condensed consolidated financial statements as of and for the three and six months ended June 30, 2017. The final amounts are summarized in the table below: June 30, ($ in millions) 2016 Cash $ 450 Receivables, net 778 Inventories, net 782 Other current assets 165 Assets held for sale (sold to Ardagh on June 30, 2016) 911 Total current assets 3,086 Property, plant and equipment 2,301 Goodwill 3,415 Intangible assets 2,478 Restricted cash 174 Other assets 490 Total assets acquired 11,944 Short-term debt and current portion of long-term debt 2,792 Accounts payable 858 Accrued employee costs 135 Liabilities held for sale (sold to Ardagh on June 30, 2016) 7 Other current liabilities 373 Total current liabilities 4,165 Long-term debt 28 Employee benefit obligations 508 Deferred taxes and other liabilities 993 Total liabilities assumed 5,694 Net assets acquired 6,250 Noncontrolling interests (90) Aggregate value of consideration paid $ 6,160 The following table details the identifiable intangible assets acquired, their fair values and estimated useful lives: ($ in millions) Fair Value Weighted- Customer relationships $ 2,437 17 Trademarks 41 3 $ 2,478 Because the acquisition of Rexam was a stock purchase, neither the goodwill nor the intangible assets acquired are deductible under local country corporate tax laws but will generally be deductible in computing earnings and profits for U.S. tax purposes. The following unaudited pro forma consolidated results of operations (pro forma information) have been prepared as if the acquisition of Rexam and sale of the Divestment Business had occurred as of January 1, 2015. The pro forma information combines the historical results of Ball and Rexam. The pro forma results are not necessarily indicative of the actual results that would have occurred had the acquisition been in effect for the periods presented, nor are they necessarily indicative of the results that may be obtained in the future. Three Months Ended Six Months Ended ($ in millions, except per share amounts) June 30, 2016 June 30, 2016 Net sales (1) $ 2,761 $ 5,179 Net earnings attributable to Ball Corporation (2) 28 26 Basic earnings per share 0.08 0.07 Diluted earnings per share 0.08 0.07 (1) Net sales were adjusted to include net sales of Rexam. The company also excluded the net sales attributable to the Divestment Business. (2) Pro forma adjustments to net earnings attributable to Ball Corporation were adjusted as follows: · Excludes acquisition-related transaction costs and debt refinancing costs incurred in the three and six months ended June 30, 2016. · Includes interest expense associated with the new debt utilized to finance the acquisition. · Includes depreciation and amortization expense based on the increased fair value of property, plant and equipment and amortizable intangible assets acquired. · Excludes net earnings attributable to the Divestment Business for the three and six months ended June 30, 2016. · Excludes the gain on sale of the Divestment Business in the three and six months ended June 30, 2016. All of these pro forma adjustments were adjusted for the applicable income tax impacts. Ball has applied enacted statutory tax rates in the U.K. for the period. Ball used a tax rate of 20 percent to calculate the financing and acquisition adjustments for the three and six months ended June 30, 2016; however, the tax impact on acquisition-related transaction costs already incurred were recorded at a U.S. statutory rate of approximately 37 percent as these transaction costs were incurred in the U.S. These rates may not be reflective of Ball’s effective tax rate for future periods after consummation of the acquisition and sale of the Divestment Business. Currency Exchange Rate and Interest Rate Risks The company entered into collar and option contracts to partially mitigate its currency exchange rate risk associated with the British pound denominated cash portion of the purchase price from February 19, 2015, through the closing date of the Rexam acquisition. The company entered into interest rate swaps to hedge against rising U.S. and European interest rates to minimize its interest rate exposure associated with anticipated debt issuances in connection with the acquisition of Rexam. These contracts were not designated as hedges for accounting purposes and, therefore, changes in the fair value of these contracts were recorded in the consolidated statements of earnings in business consolidation and other activities, as well as in debt refinancing and other costs, a component of total interest expense. Food and Aerosol Paint and General Line Plant In March 2017, the company sold its paint and general line can manufacturing facility in Hubbard, Ohio, for approximately $32 million in cash and recorded a $15 million gain on the sale. Wavefront Technologies (Wavefront) In January 2016, the company acquired Wavefront located in Annapolis Junction, Maryland, for total cash consideration of $36 million, net of cash acquired. Wavefront provides systems and network engineering, software development software and analytical services for cyber and mission-focused programs to the U.S. government and commercial industry. The financial results of Wavefront have been included in our aerospace segment from the date of acquisition. The acquisition is not material to the company. Food and Aerosol Specialty Tin Business In October 2016, the company sold its specialty tin manufacturing facility in Baltimore, Maryland, for approximately $24 million in cash and recorded a $9 million gain on the sale.

Business Consolidation and Othe

Business Consolidation and Other Activities	6 Months Ended
	Jun. 30, 2017
Business Consolidation and Other Activities
Business Consolidation and Other Activities	5. Business Consolidation and Other Activities The following is a summary of business consolidation and other activity (charges)/income included in the unaudited condensed consolidated statements of earnings: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Beverage packaging, North and Central America $ (7) $ (3) $ (11) $ (6) Beverage packaging, South America (3) (9) — (9) Beverage packaging, Europe (4) (5) (7) (9) Food and aerosol packaging (1) (3) 9 (17) Other (26) 48 (87) (198) $ (41) $ 28 $ (96) $ (239) 2017 Beverage Packaging, North and Central America During the three and six months ended June 30, 2017, the company recorded charges of $4 million and $7 million, respectively, for employee severance and benefits, facility shutdown costs, asset impairment, accelerated depreciation and disposal costs related to the closure of its Reidsville, North Carolina, plant. Other charges in the three and six months ended June 30, 2017, included $3 million and $4 million, respectively, of individually insignificant activities. Beverage Packaging, South America During the three and six months ended June 30, 2017, the company recorded charges of $2 million for professional services and other costs associated with the acquisition of Rexam. Other charges in the three and six months ended June 30, 2017, included expense of $1 million and income of $2 million, respectively, for individually insignificant activities. Beverage Packaging, Europe During the six months ended June 30, 2017, the company recorded charges of $2 million for professional services and other costs associated with the acquisition of Rexam. Other charges in the three and six months ended June 30, 2017, included $4 million and $5 million, respectively, for individually insignificant activities. Food and Aerosol Packaging During the three and six months ended June 30, 2017, the company recorded charges of $2 million and $5 million, respectively, for facility shutdown costs and accelerated depreciation for the closure of its Weirton, West Virginia, plant which ceased production during the period ended March 31, 2017. During the three months ended March 31, 2017, the company sold its food and aerosol packaging paint and general line can plant in Hubbard, Ohio, and recorded a gain on sale of $15 million. Other charges in the three and six months ended June 30, 2017, included income of $1 million and expense of $1 million for individually insignificant activities. Other During the three months ended June 30, 2017, the company recorded the following amounts: · Expense of $7 million for the estimated amount of claims covered by the indemnification for certain tax matters provided to the buyer in the sale of the Divestment Business. · Expense of $8 million for long-term incentive and other compensation arrangements associated with the Rexam acquisition. · Expense of $5 million for professional services and other costs associated with the acquisition of Rexam. · Expense of $6 million for individually insignificant activities. During the six months ended June 30, 2017, the company recorded the following amounts: · Expense of $34 million for the estimated amount of claims covered by the indemnification for certain tax matters provided to the buyer in the sale of the Divestment Business. · Expense of $17 million for long-term incentive and other compensation arrangements associated with the Rexam acquisition. · A $14 million reduction in the gain recognized in connection with the sale of the Ball portion of the Divestment Business. · Expense of $10 million for professional services and other costs associated with the acquisition of Rexam. · Expense of $12 million for individually insignificant activities. 2016 Beverage Packaging, North and Central America Charges in the three and six months ended June 30, 2016, included $3 million and $6 million, respectively, of individually insignificant activities. Beverage Packaging, South America During the three months ended June 30, 2016, the company recorded charges of $9 million for professional services and other costs associated with the acquisition of Rexam. Beverage Packaging, Europe During the three months ended June 30, 2016, the company recorded charges of $3 million and $7 million, respectively, for professional services and other costs associated with the acquisition of Rexam. Other charges in the three and six months ended June 30, 2016, included $2 million of individually insignificant activities. Food and Aerosol Packaging During the three and six months ended June 30, 2016, the company recorded charges of $2 million and $11 million, respectively, for employee severance and benefits, facility shutdown costs and asset impairment and disposal costs for the closure of its Weirton, West Virginia, plant. Other charges in the three and six months ended June 30, 2016, included $1 million and $6 million, respectively, of individually insignificant activities. Other During the three months ended June 30, 2016, the company recorded the following charges: · A gain of $331 million in connection with the sale of the Ball portion of the Divestment Business. · Foreign currency losses of $99 million from the revaluation of foreign currency denominated restricted cash and intercompany loans related to the cash component of the Rexam acquisition purchase price, the sale of the Divestment Business and the revaluation of the euro-denominated debt issuance obtained in December 2015. · Losses of $91 million associated with the collar, swap and option contracts entered into to reduce its exposure to currency exchange rate changes in connection with the British pound denominated cash portion of the purchase price for the acquisition of Rexam. · Expense of $71 million for compensation arrangements related to the Rexam acquisition. · Expense of $53 million for professional services and other costs associated with the acquisition of Rexam. · An unrealized gain of $32 million on the fair value of cross-currency swaps entered into in connection with the December 2015 issuance of the $1 billion senior notes due 2020. · Expense of $1 million for individually insignificant activities. During the six months ended June 30, 2016, the company recorded the following charges: · A gain of $331 million in connection with the sale of the Ball portion of the Divestment Business. · Foreign currency losses of $195 million from the revaluation of foreign currency denominated restricted cash and intercompany loans related to the cash component of the Rexam acquisition purchase price, the sale of the Divestment Business and the revaluation of the euro-denominated debt issuance obtained in December 2015. · Losses of $179 million associated with the collar, swap and option contracts entered into to reduce its exposure to currency exchange rate changes in connection with the British pound denominated cash portion of the purchase price for the acquisition of Rexam. · Expense of $77 million for professional services and other costs associated with the acquisition of Rexam. · Expense of $71 million for compensation arrangements related to the Rexam acquisition. · An unrealized loss of $4 million on the fair value of cross-currency swaps entered into in connection with the December 2015 issuance of the $1 billion senior notes due 2020. · Expense of $3 million for individually insignificant activities.

Receivables

Receivables	6 Months Ended
	Jun. 30, 2017
Receivables
Receivables	6. Receivables June 30, December 31, ($ in millions) 2017 2016 Trade accounts receivable $ 1,342 $ 1,169 Less allowance for doubtful accounts (10) (11) Net trade accounts receivable 1,332 1,158 Other receivables 305 333 $ 1,637 $ 1,491 The company has entered into several regional committed and uncommitted accounts receivable factoring programs with various financial institutions for certain receivables of the company. The programs are accounted for as true sales of the receivables, without recourse to Ball, and had combined limits of approximately $1 billion at June 30, 2017. A total of $658 million and $596 million were sold under such programs as of June 30, 2017, and December 31, 2016, respectively.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2017
Inventories
Inventories	7. Inventories June 30, December 31, ($ in millions) 2017 2016 Raw materials and supplies $ 665 $ 607 Work-in-process and finished goods 896 839 Less inventory reserves (37) (33) $ 1,524 $ 1,413

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment
Property, Plant and Equipment	8. Property, Plant and Equipment June 30, December 31, ($ in millions) 2017 2016 Land $ 171 $ 105 Buildings 1,357 1,301 Machinery and equipment 4,986 4,723 Construction-in-progress 432 503 6,946 6,632 Accumulated depreciation (2,522) (2,245) $ 4,424 $ 4,387 Property, plant and equipment are stated at historical or acquired cost. Depreciation expense amounted to $153 million and $260 million for the three and six months ended June 30, 2017, respectively, and $68 million and $133 million for the comparable periods in 2016, respectively. During the three months ended June 30, 2017, cumulative catch-up depreciation recorded as a result of changes in the values and useful lives of fixed assets associated with the finalization of the valuation for the Rexam acquisition was $35 million, of which $11 million related to the three months ended March 31, 2017, and $24 million related to the six months ended December 31, 2016.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets
Goodwill	9. Goodwill ($ in millions) Beverage Beverage Beverage Food Aerospace Other Total Balance at December 31, 2016 $ 1,614 $ 970 $ 1,632 $ 599 $ 40 $ 240 $ 5,095 Opening balance sheet adjustments (340) 328 (276) — — (68) (356) Business dispositions — — — (9) — — (9) Effects of currency exchange rates — — 106 12 — 10 128 Balance at June 30, 2017 $ 1,274 $ 1,298 $ 1,462 $ 602 $ 40 $ 182 $ 4,858 During the three months ended June 30, 2017, the company finalized the allocation of the purchase price for the Rexam acquisition. The decrease related to goodwill is a result of changes in the fair values and useful lives of fixed assets for the Rexam acquisition. The company’s annual goodwill impairment test completed in the fourth quarter of 2016 indicated the fair value of the beverage packaging, Asia (Beverage Asia), reporting unit exceeded its carrying amount by approximately 23 percent. The current supply of metal beverage packaging exceeds demand in China, resulting in pricing pressure and negative impacts on the profitability of our Beverage Asia reporting unit. If it becomes an expectation that this oversupply situation will continue for an extended period of time, the company may be required to record a noncash impairment charge for some or all of the goodwill associated with the Beverage Asia reporting unit, the total balance of which was $78 million at June 30, 2017.

Intangible Assets ,net

Intangible Assets ,net	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets
Intangible Assets, net	10. Intangible Assets, Net June 30, December 31, ($ in millions) 2017 2016 Acquired Rexam intangibles (net of accumulated amortization of $160 million at June 30, 2017, and $62 million at December 31, 2016) $ 2,340 $ 1,766 Capitalized software (net of accumulated amortization of $112 million at June 30, 2017, and $87 million at December 31, 2016) 86 79 Other intangibles (net of accumulated amortization of $155 million at June 30, 2017, and $143 million at December 31, 2016) 86 89 $ 2,512 $ 1,934 Total amortization expense of intangible assets amounted to $76 million and $117 million for the three and six months ended June 30, 2017, respectively, and $10 million and $20 million for the comparable periods in 2016, respectively. During the three months ended June 30, 2017, cumulative catch-up amortization recorded as a result of the change in the value of intangible assets associated with the finalization of the valuation for the Rexam acquisition was $23 million, of which $8 million related to the three months ended March 31, 2017, and $15 million related to the six months ended December 31, 2016.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2017
Other Assets..
Other Assets.	11. Other Assets June 30, December 31, ($ in millions) 2017 2016 Long-term deferred tax assets $ 447 $ 443 Long-term pension asset 163 147 Investments in affiliates 252 204 Company and trust-owned life insurance 166 146 Other 134 164 $ 1,162 $ 1,104

Debt and Interest Costs

Debt and Interest Costs	6 Months Ended
	Jun. 30, 2017
Debt and Interest Costs
Debt and Interest Costs	12. Debt and Interest Costs Long-term debt consisted of the following: June 30, December 31, ($ in millions) 2017 2016 Senior Notes 5.25% due July 2025 $ 1,000 $ 1,000 4.375% due December 2020 1,000 1,000 4.00% due November 2023 1,000 1,000 4.375%, euro denominated, due December 2023 800 736 5.00% due March 2022 750 750 3.50%, euro denominated, due December 2020 457 421 Senior Credit Facilities, due March 2021 (at variable rates) Term A loan, due June 2021 1,348 1,383 Term A loan, euro denominated, due June 2021 801 954 Multi-currency, U.S. dollar revolver, due March 2021 190 190 Other (including debt issuance costs) (42) (45) 7,304 7,389 Less: Current portion of long-term debt (78) (79) $ 7,226 $ 7,310 Following is a summary of debt refinancing and other costs included in the unaudited condensed consolidated statements of earnings: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Debt Refinancing and Other Costs: Interest expense on 3.5% and 4.375% senior notes $ — $ (25) $ — $ (49) Refinancing of bridge and revolving credit facilities — (17) — (30) Economic hedge - interest rate risk — (4) — (20) Amortization of unsecured, committed bridge facility financing fees — — — (7) Individually insignificant items (1) — (1) — $ (1) $ (46) $ (1) $ (106) The senior credit facilities include long-term, multi-currency committed revolving credit facilities that provide the company with up to the U.S. dollar equivalent of $1.5 billion. At June 30, 2017, taking into account outstanding letters of credit, approximately $1.3 billion was available under existing long-term, revolving credit facilities. In addition to these facilities, the company had approximately $968 million of short-term uncommitted credit facilities available at June 30, 2017, of which $244 million was outstanding and due on demand. At December 31, 2016, the company had $143 million outstanding under short-term uncommitted credit facilities. The fair value of long-term debt was estimated to be $7.6 billion at June 30, 2017, and $7.7 billion at December 31, 2016. The fair value reflects the market rates at each period end for debt with credit ratings similar to the company’s ratings and is classified as Level 2 within the fair value hierarchy. Rates currently available to the company for loans with similar terms and maturities are used to estimate the fair value of long-term debt based on discounted cash flows. Ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with certain self-insurance arrangements. Letters of credit outstanding were $34 million at June 30, 2017, and $32 million at December 31, 2016. The company’s senior notes and senior credit facilities are guaranteed on a full, unconditional and joint and several basis by certain of the company’s material subsidiaries. Each of the guarantor subsidiaries is 100 percent owned by Ball Corporation. These guarantees are required in support of these notes and credit facilities, are co-terminous with the terms of the respective note indentures and would require performance upon certain events of default referred to in the respective guarantees. Note 19 includes further details about the company’s debt guarantees and Note 20 contains further details, as well as required condensed consolidating financial information for the company, segregating the guarantor subsidiaries and non-guarantor subsidiaries as defined in the debt agreements. The U.S. note agreements and bank credit agreement contain certain restrictions relating to dividend payments, share repurchases, investments, financial ratios, guarantees and the incurrence of additional indebtedness. The most restrictive covenant is in the company’s bank credit agreement and requires the company to maintain a net debt to EBITDA ratio (as defined) of no greater than 5 times at June 30, 2017, which changes to 4 times at December 31, 2017. The company was in compliance with all loan agreements and debt covenants at June 30, 2017, and December 31, 2016, and has met all debt payment obligations.

Employee Benefit Obligations

Employee Benefit Obligations	6 Months Ended
	Jun. 30, 2017
Employee Benefit Obligations
Employee Benefit Obligations	13. Employee Benefit Obligations June 30, December 31, ($ in millions) 2017 2016 Underfunded defined benefit pension liabilities $ 897 $ 963 Less: Current portion (26) (25) Long-term defined benefit pension liabilities 871 938 Retiree medical and other postemployment benefits 217 226 Deferred compensation plans 280 272 Other 61 61 $ 1,429 $ 1,497 Components of net periodic benefit cost associated with the company’s defined benefit pension plans were: Three Months Ended June 30, 2017 2016 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 12 $ 4 $ 16 $ 12 $ 3 $ 15 Interest cost 33 22 55 15 5 20 Expected return on plan assets (33) (26) (59) (18) (5) (23) Recognized net actuarial loss 9 1 10 8 1 9 Curtailment and settlement losses (gains) including special termination benefits — — — — 80 (a) 80 Net periodic benefit cost for Ball sponsored plans 21 1 22 17 84 101 Net periodic benefit cost for multi-employer plans 1 — 1 — — — Total net periodic benefit cost $ 22 $ 1 $ 23 $ 17 $ 84 $ 101 (a) Amount relates to plans transferred to the Divestment Business. Six Months Ended June 30, 2017 2016 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 24 $ 8 $ 32 $ 24 $ 6 $ 30 Interest cost 66 44 110 30 9 39 Expected return on plan assets (66) (52) (118) (36) (9) (45) Recognized net actuarial loss 18 2 20 15 3 18 Curtailment and settlement losses (gains) including special termination benefits — — — — 80 (a) 80 Net periodic benefit cost for Ball sponsored plans 42 2 44 33 89 122 Net periodic benefit cost for multi-employer plans 2 — 2 1 — 1 Total net periodic benefit cost $ 44 $ 2 $ 46 $ 34 $ 89 $ 123 (a) Amount relates to plans transferred to the Divestment Business. Contributions to the company’s defined benefit pension plans, not including unfunded German, Swedish and certain U.S. plans, were $110 million in the first six months of 2017 compared to $28 million in the first six months of 2016 and are expected to be in the range of $190 million for the full year of 2017. This estimate may change based on any changes to the U.S. Pension Protection Act and actual plan asset performance, among other factors. Included in the 2017 contributions were contributions to acquired Rexam defined benefit pension plans. Payments to participants in the unfunded German, Swedish and certain U.S. plans were $12 million in the first six months of 2017 compared to $9 million in the first six months of 2016 and are expected to be approximately $20 million to $24 million for the full year of 2017.

Shareholders_ Equity and Compre

Shareholders’ Equity and Comprehensive Earnings	6 Months Ended
	Jun. 30, 2017
Shareholders’ Equity
Comprehensive Income (Loss) Note [Text Block]	14. Shareholders’ Equity and Comprehensive Earnings In April of 2017, the company’s board of directors declared a two-for-one split of Ball Corporation’s common stock and increased the quarterly cash dividend by 54 percent to 10 cents on a post-split basis. The stock split was effective as of May 16, 2017. Accumulated Other Comprehensive Earnings (Loss) The activity related to accumulated other comprehensive earnings (loss) was as follows: ($ in millions) Foreign Currency Translation (Net of Tax) Pension and Other Postretirement Benefits (Net of Tax) Effective Derivatives (Net of Tax) Accumulated Other Comprehensive Earnings (Loss) Balance at December 31, 2016 $ (329) $ (590) $ (22) $ (941) Other comprehensive earnings (loss) before reclassifications (3) (23) (25) (51) Amounts reclassified from accumulated other comprehensive earnings (loss) — 11 62 73 Balance at June 30, 2017 $ (332) $ (602) $ 15 $ (919) The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive earnings (loss): Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ — $ — $ (3) $ 3 Commodity contracts recorded in cost of sales 9 (3) 17 (10) Currency exchange contracts recorded in selling, general and administrative — (1) — (1) Cross-currency swaps recorded in selling, general and administrative (71) 1 (84) 1 Cross-currency swaps recorded in interest expense 5 — 10 — Commodity and currency exchange contracts attributable to the divestment business recorded in business consolidation and other activities — (4) — (4) Total before tax effect (57) (7) (60) (11) Tax benefit (expense) on amounts reclassified into earnings 13 — (2) (2) Recognized gain (loss) $ (44) $ (7) $ (62) $ (13) Amortization of pension and other postretirement benefits: (a) Prior service income (expense) $ — $ 2 $ — $ 2 Actuarial gains (losses) (8) (90) (17) (99) Total before tax effect (8) (88) (17) (97) Tax benefit (expense) on amounts reclassified into earnings 3 23 6 26 Recognized gain (loss) $ (5) $ (65) $ (11) $ (71) (a) The pension components are included in the computation of net periodic benefit cost included in Note 13.

Stock-Based Compensation Progra

Stock-Based Compensation Programs	6 Months Ended
	Jun. 30, 2017
Stock-Based Compensation Programs
Stock-Based Compensation Programs	15. Stock-Based Compensation Programs The company has shareholder-approved stock plans under which options and stock-settled appreciation rights (SSARs) have been granted to employees at the market value of the company’s stock at the date of grant. In general, options and SSARs are exercisable in four equal installments commencing one year from the date of grant and terminating 10 years from the date of grant. There were 1.1 million stock options and SSARs granted in January 2017 and 1.3 million in April 2017 (on a post-stock split basis). These options and SSARs cannot be traded in any equity market. However, based on the Black-Scholes option pricing model, options and SSARs granted in April 2017, January 2017, July 2016 and January 2016 have estimated weighted average fair values at the date of grant of $7.21 per share, $8.54 per share, $8.35 per share and $9.29 per share, respectively (reflects the two-for-one stock split effective May 16, 2017). The actual value an employee may realize will depend on the excess of the stock price over the exercise price on the date the option or SSAR is exercised. Consequently, there is no assurance the value realized by an employee will approximate the value estimated. The fair values were estimated using the following weighted average assumptions: April 2017 January 2017 July 2016 January 2016 Expected dividend yield 1.06 % 0.68 % 0.73 % 0.79 % Expected stock price volatility 18.89 % 20.49 % 24.14 % 29.25 % Risk-free interest rate 1.95 % 2.07 % 1.22 % 1.57 % Expected life of options (in years) 5.94 years 5.94 years 6.10 years 5.94 years During the three months ended March 31, 2017 and 2016, the company’s board of directors granted 237,452 and 237,510 performance-contingent restricted stock units (PCEQs) (on a post-stock split basis), respectively, to key employees. These PCEQs vest three years from the date of grant, and the number of shares available at the vesting date is based on the company’s growth in economic value added (EVA®) dollars in excess of the EVA® dollars generated in the calendar year prior to the grant as the minimum threshold, and can range from zero to 200 percent of each participant’s assigned PCEQ award. If the minimum performance goals are not met, the PCEQ will be forfeited. Grants under the plan are being accounted for as equity awards and compensation expense is recorded based upon the most probable outcome using the closing market price of the shares at the grant date. On a quarterly and annual basis, the company reassesses the probability of the goals being met and adjusts compensation expense as appropriate. Also during the three months ended March 31, 2017, the company’s board of directors granted 1.1 million performance-contingent restricted stock units (on a post-stock split basis) to employees related to the Special Acquisition-Related Incentive Plan. The number of shares issued at the vesting date in January 2020 will be based on the company’s achievement of cumulative EVA and Cash Flow performance goals through the vesting date and can range from zero to 200 percent of each participant’s assigned award. If the minimum performance goals are not met, the awards will be forfeited. Grants under the plan are being accounted for as equity awards and compensation expense is recorded based upon the most probable outcome using the closing market price of the shares at the grant date. On a quarterly basis, the company reassesses the probability of the goals being met and adjusts compensation expense as appropriate.

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share
Earnings Per Share	16. Earnings and Dividends Per Share Three Months Ended June 30, Six Months Ended June 30, ($ in millions, except per share amounts; shares in thousands) 2017 2016 2017 2016 Net earnings attributable to Ball Corporation $ 99 $ 307 $ 167 $ 180 Basic weighted average common shares (a) 351,066 284,076 350,560 283,832 Effect of dilutive securities (a) 7,913 6,378 7,946 6,498 Weighted average shares applicable to diluted earnings per share (a) 358,979 290,454 358,506 290,330 Per basic share (a) $ 0.28 $ 1.08 $ 0.48 $ 0.63 Per diluted share (a) $ 0.28 $ 1.06 $ 0.47 $ 0.62 (a) Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017. Certain outstanding options were excluded from the diluted earnings per share calculation because they were anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease earnings per share). The options excluded totaled 3 million and 5 million in the three and six months ended June 30, 2017, respectively. The options excluded totaled 4 million in both the three and six months ended June 30, 2016. The company declared and paid dividends of $0.10 per share in the three months ended June 30, 2017, and $0.065 per share in the three months ended March 31, 2017 and 2016, and in the three months ended June 30, 2016 (on a post-stock split basis).

Financial Instruments and Risk

Financial Instruments and Risk Management	6 Months Ended
	Jun. 30, 2017
Financial Instruments and Risk Management
Financial Instruments and Risk Management	17. Financial Instruments and Risk Management The company employs established risk management policies and procedures, which seek to reduce the company’s commercial risk exposure to fluctuations in commodity prices, interest rates, currency exchange rates and prices of the company’s common stock with regard to common share repurchases and the company’s deferred compensation stock plan. However, there can be no assurance these policies and procedures will be successful. Although the instruments utilized involve varying degrees of credit, market and interest risk, the counterparties to the agreements are expected to perform fully under the terms of the agreements. The company monitors counterparty credit risk, including lenders, on a regular basis, but Ball cannot be certain that all risks will be discerned or that its risk management policies and procedures will always be effective. Additionally, in the event of default under the company’s master derivative agreements, the non-defaulting party has the option to offset any amounts owed with regard to open derivative positions. Commodity Price Risk Aluminum The company manages commodity price risk in connection with market price fluctuations of aluminum ingot through two different methods. First, the company enters into container sales contracts that include aluminum ingot-based pricing terms that generally reflect the same price fluctuations under commercial purchase contracts for aluminum sheet. The terms include fixed, floating or pass-through aluminum ingot component pricing. Second, the company uses certain derivative instruments such as option and forward contracts as economic and cash flow hedges of commodity price risk where there are material differences between sales and purchase contracted pricing and volume. At June 30, 2017, the company had aluminum contracts limiting its aluminum exposure with notional amounts of approximately $985 million, of which approximately $922 million received hedge accounting treatment. The aluminum contracts, which are recorded at fair value, include economic derivative instruments that are undesignated, as well as cash flow hedges that offset sales and purchase contracts of various terms and lengths. Cash flow hedges relate to forecasted transactions that will occur within the next three years. Included in shareholders’ equity at June 30, 2017, within accumulated other comprehensive earnings (loss), is a net after-tax gain of $23 million associated with these contracts. A net after-tax gain of $17 million is expected to be recognized in the consolidated statement of earnings during the next 12 months, the majority of which will be offset by pricing changes in sales and purchase contracts, thus resulting in little or no earnings impact to Ball. Steel Most sales contracts involving our steel products either include provisions permitting the company to pass through some or all steel cost changes incurred, or they incorporate annually negotiated steel prices. Interest Rate Risk The company’s objective in managing exposure to interest rate changes is to minimize the impact of interest rate changes on earnings and cash flows and to lower our overall borrowing costs. To achieve these objectives, the company may use a variety of interest rate swaps, collars and options to manage our mix of floating and fixed-rate debt. There was no after-tax gain included in shareholders’ equity at June 30, 2017, within accumulated other comprehensive earnings (loss). There were no contracts outstanding at June 30, 2017. Currency Exchange Rate Risk The company’s objective in managing exposure to currency fluctuations is to limit the exposure of cash flows and earnings from changes associated with currency exchange rate changes through the use of various derivative contracts. In addition, at times the company manages earnings translation volatility through the use of currency option strategies, and the change in the fair value of those options is recorded in the company’s net earnings. The company’s currency translation risk results from the currencies in which we transact business. The company faces currency exposures in its global operations as a result of various factors including intercompany currency denominated loans, selling our products in various currencies, purchasing raw materials and equipment in various currencies and tax exposures not denominated in the functional currency. Sales contracts are negotiated with customers to reflect cost changes and, where there is not an exchange pass-through arrangement, the company uses forward and option contracts to manage currency exposures. At June 30, 2017, the company had outstanding exchange rate forward contracts and option contracts with notional amounts totaling approximately $2 billion. Approximately $5 million of net after-tax gain related to these contracts is included in accumulated other comprehensive earnings at June 30, 2017, of which a net gain of $5 million is expected to be recognized in the unaudited condensed consolidated statement of earnings during the next 12 months. The contracts outstanding at June 30, 2017, expire within the next two years. Additionally, the company entered into a $1 billion cross-currency swap contract to partially mitigate the risk associated with foreign currency denominated intercompany debt incurred in the three months ended June 30, 2016. Approximately, $13 million of net after-tax loss related to this contract is included in accumulated other comprehensive earnings at June 30, 2017, the amount of which expected to be recognized during the next 12 months is dependent on fluctuations in currency exchange rates. As of June 30, 2017, the fair value of the cross-currency swap was a $39 million loss. The contract expires in December 2020. Common Stock Price Risk The company’s deferred compensation stock program is subject to variable plan accounting and, accordingly, is marked to fair value using the company’s closing stock price at the end of the related reporting period. The company entered into total return swaps to reduce the company’s earnings exposure to these fair value fluctuations that will be outstanding until March 2018 and August 2017 and that have a combined notional value of 2.7 million shares. Based on the current number of shares in the program, each $1 change in the company’s stock price has an insignificant impact on pretax earnings, net of the impact of related derivatives. As of June 30, 2017, the fair value of the swap was a $3.4 million gain. Collateral Calls The company’s agreements with its financial counterparties require the company to post collateral in certain circumstances when the negative mark to fair value of the derivative contracts exceeds specified levels. Additionally, the company has collateral posting arrangements with certain customers on these derivative contracts. The cash flows of the margin calls are shown within the investing section of the company’s consolidated statements of cash flows. As of June 30, 2017, and December 31, 2016, the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position was $24 million and $44 million, respectively, and no collateral was required to be posted. Fair Value Measurements The company has classified all applicable financial derivative assets and liabilities as Level 2 within the fair value hierarchy as of June 30, 2017, and December 31, 2016, and presented those values in the tables below. The company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. June 30, 2017 December 31, 2016 ($ in millions) Derivatives Derivatives not Total Derivatives Derivatives not Total Assets: Commodity contracts $ 29 $ 2 $ 31 $ 17 $ 1 $ 18 Foreign currency contracts 2 9 11 1 — 1 Interest rate and other contracts — 3 3 — 21 21 Total current derivative contracts $ 31 $ 14 $ 45 $ 18 $ 22 $ 40 Commodity contracts $ 6 $ — $ 6 $ 7 $ — $ 7 Interest rate and other contracts — — — 39 — 39 Total noncurrent derivative contracts $ 6 $ — $ 6 $ 46 $ — $ 46 Liabilities: Commodity contracts $ 6 $ 2 $ 8 $ 3 $ — $ 3 Foreign currency contracts — 31 31 — 22 22 Total current derivative contracts $ 6 $ 33 $ 39 $ 3 $ 22 $ 25 Commodity contracts $ 1 $ — $ 1 $ — $ — $ — Foreign currency contracts 39 — 39 — — — Total noncurrent derivative contracts $ 40 $ — $ 40 $ — $ — $ — The company uses closing spot and forward market prices as published by the London Metal Exchange, the Chicago Mercantile Exchange, Reuters and Bloomberg to determine the fair value of any outstanding aluminum, currency, energy, inflation and interest rate spot and forward contracts. Option contracts are valued using a Black-Scholes model with observable market inputs for aluminum, currency and interest rates. We value each of our financial instruments either internally using a single valuation technique or from a reliable observable market source. The company does not adjust the value of its financial instruments except in determining the fair value of a trade that settles in the future by discounting the value to its present value using 12-month LIBOR as the discount factor. Ball performs validations of our internally derived fair values reported for our financial instruments on a quarterly basis utilizing counterparty valuation statements. Additionally, the company evaluates counterparty creditworthiness and, as of June 30, 2017, has not identified any circumstances requiring the reported values of our financial instruments be adjusted. The following table provides the effects of derivative instruments in the consolidated statement of earnings and on accumulated other comprehensive earnings (loss): Three Months Ended June 30, 2017 2016 ($ in millions) Location of Gain (Loss) Cash Flow Gain (Loss) on Cash Flow Gain (Loss) on Commodity contracts - manage exposure to supplier pricing Cost of sales $ 9 $ (4) $ (3) $ — Interest rate contracts - manage exposure for forecasted Rexam financing Debt refinancing and other costs — — — (4) Foreign currency contracts - manage general exposure with the business Selling, general and administrative — (14) (1) 36 Foreign currency contracts - manage exposure for proposed acquisition of Rexam Business consolidation and other activities — — — 1 Cross-currency swaps - manage exposure for proposed acquisition of Rexam Business consolidation and other activities — — — 32 Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative (71) — 1 — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 5 — — — Commodity contracts and currency exchange contracts - attributed to the divestment business Business consolidation and other activities — — (4) — Equity and inflation contracts Selling, general and administrative — 13 — 1 Total $ (57) $ (5) $ (7) $ 66 Six Months Ended June 30, 2017 2016 ($ in millions) Location of Gain (Loss) Cash Flow Gain (Loss) on Cash Flow Gain (Loss) on Commodity contracts - manage exposure to customer pricing Net sales $ (3) $ (2) $ 3 $ — Commodity contracts - manage exposure to supplier pricing Cost of sales 17 (3) (10) — Interest rate contracts - manage exposure for forecasted Rexam financing Debt refinancing and other costs — — — (20) Foreign currency contracts - manage general exposure with the business Selling, general and administrative — (29) (1) 36 Foreign currency contracts - manage exposure for acquisition of Rexam Business consolidation and other activities — — — (87) Cross-currency swaps - manage exposure for acquisition of Rexam Business consolidation and other activities — — — (4) Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative (84) — 1 — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 10 — — — Commodity contracts and currency exchange contracts - attributed to the Divestment Business Business consolidation and other activities — — (4) — Equity contracts Selling, general and administrative — 10 — (1) Total $ (60) $ (24) $ (11) $ (76) The changes in accumulated other comprehensive earnings (loss) for effective derivatives were as follows: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Amounts reclassified into earnings: Commodity contracts $ (9) $ 3 $ (14) $ 7 Cross-currency swap contracts 66 (1) 74 (1) Commodity and currency exchange contracts attributed to the divestment business — 4 — 4 Currency exchange contracts — 1 — 1 Change in fair value of cash flow hedges: Commodity contracts (28) 13 23 6 Interest rate contracts 1 1 — Cross-currency swap contracts (66) (6) (69) (6) Currency exchange contracts 2 (3) 1 1 Foreign currency and tax impacts 15 (2) 21 (2) $ (20) $ 10 $ 37 $ 10

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2017
Contingencies
Contingencies	18. Contingencies Ball is subject to numerous lawsuits, claims or proceedings arising out of the ordinary course of business, including actions related to: product liability, personal injury, the use and performance of company products; warranty matters; patent, trademark or other intellectual property infringement; contractual liability, the conduct of the company’s business; tax reporting in domestic and foreign jurisdictions; workplace safety, and environmental and other matters. The company has also been identified as a potentially responsible party (PRP) at several waste disposal sites under U.S. federal and related state environmental statutes and regulations and may have joint and several liability for any investigation and remediation costs incurred with respect to such sites. In addition, we have received claims alleging that employees in certain plants have suffered damages due to exposure to alleged workplace hazards. Some of these lawsuits, claims and proceedings involve substantial amounts, including as described below, and some of the environmental proceedings involve potential monetary costs or sanctions that may be material. Ball has denied liability with respect to many of these lawsuits, claims and proceedings and is vigorously defending such lawsuits, claims and proceedings. The company carries various forms of commercial, property and casualty and other forms of insurance; however, such insurance may not be applicable or adequate to cover the costs associated with a judgment against Ball with respect to these lawsuits, claims and proceedings. The company estimates that potential liabilities for all currently known and estimable environmental matters are approximately $45 million in the aggregate and have been included in other current liabilities and other noncurrent liabilities at June 30, 2017. As previously reported, the U.S. Environmental Protection Agency (USEPA) considers the company a PRP with respect to the Lowry Landfill site located east of Denver, Colorado. In 1992, the company was served with a lawsuit filed by the City and County of Denver (Denver) and Waste Management of Colorado, Inc., seeking contributions from the company and approximately 38 other companies. The company filed its answer denying the allegations of the complaint. Subsequently in 1992, the company was served with a third-party complaint filed by S.W. Shattuck Chemical Company, Inc., seeking contribution from the company and other companies for the costs associated with cleaning up the Lowry Landfill. The company denied the allegations of the complaint. Also in 1992, Ball entered into a settlement and indemnification agreement with Chemical Waste Management, Inc., and Waste Management of Colorado, Inc. (collectively Waste Management) and Denver pursuant to which Waste Management and Denver dismissed their lawsuit against the company, and Waste Management agreed to defend, indemnify and hold harmless the company from claims and lawsuits brought by governmental agencies and other parties relating to actions seeking contributions or remedial costs from the company for the cleanup of the site. Waste Management, Inc., has agreed to guarantee the obligations of Waste Management. Waste Management and Denver may seek additional payments from the company if the response costs related to the site exceed $319 million. In 2003 Waste Management, Inc., indicated that the cost of the site might exceed $319 million in 2030, approximately three years before the projected completion of the project. In January 2015, Waste Management reported that total project costs to date were approximately $140 million. The company might also be responsible for payments (based on 1992 dollars) for any additional wastes that may have been disposed of by the company at the site but which are identified after the execution of the settlement agreement. While remediating the site, contaminants were encountered, which could add an additional cleanup cost of approximately $10 million. This additional cleanup cost could, in turn, add approximately $1 million to total site costs for the PRP group. At this time, there are no Lowry Landfill actions in which the company is actively involved. Based on the information available to the company at this time, we do not believe that this matter will have a material adverse effect upon the liquidity, results of operations or financial condition of the company. In November 2012, the USEPA wrote to the company asserting that it is one of at least 50 PRPs with respect to the Lower Duwamish site located in Seattle, Washington, based on the company’s ownership of a glass container plant prior to 1995, and notifying the company of a proposed remediation action plan. An allocator has been selected to begin data review on over 30 industrial companies and government entities and at least two PRP groups have begun to discuss various allocation proposals, and this process may last approximately one more year. During the third quarter of 2014, the PRP groups voted to include 20 new members. The USEPA issued the site Record of Decision (ROD) on December 2, 2014. Ball submitted its initial responses to the allocator’s questionnaire in March 2015, and after reviewing submissions from the PRPs alleging deficiencies in certain of Ball’s responses, the allocator denied certain of the allegations and directed the company to answer others, to which Ball responded during the fourth quarter of 2016. A group of de minimis PRPs, including Ball, have retained a technical consultant to assist with their positions vis-à-vis larger PRPs. Total site remediation costs of $342 million, to cover remediation of approximately 200 acres of river bottom, are expected according to the proposed remediation action plan, which does not include $100 million that has already been spent, and which will be allocated among the numerous PRPs in due course. Based on the information available to the company at this time, we do not believe that this matter will have a material adverse effect upon the liquidity, results of operations or financial condition of the company. In February 2012, Ball Metal Beverage Container Corp. (BMBCC) filed an action against Crown Packaging Technology, Inc. (Crown) in the U.S. District Court for the Southern District of Ohio seeking a declaratory judgment that the sale and use of certain ends by BMBCC and its customers do not infringe certain claims of Crown’s U.S. patents. Crown subsequently filed a counterclaim alleging infringement of certain claims in these patents seeking unspecified monetary damages, fees and declaratory and injunctive relief. The District Court issued a claim construction order at the end of December 2015 and held a scheduling conference on February 10, 2016, to determine the timeline for future steps in the litigation. The case was stayed by mutual agreement of the parties into the third quarter of 2016, during which Crown made preparations for its discovery with respect to certain ends previously produced by Rexam, and such discovery began during the first half of 2017. The parties attempted to mediate the case on August 1, 2017, but no progress was made, and the case continues as scheduled. Based on the information available to the company at the present time, the company does not believe that this matter will have a material adverse effect upon the liquidity, results of operations or financial condition of the company. On September 16, 1971, Rexham Corporation (Rexham) was incorporated as a wholly owned subsidiary of Riegel Paper Company (Riegel). On September 23, 1971, Riegel, Federal Paper Board Company (Federal), and Rexham entered into an Agreement and Plan of Reorganization (the 1971 Agreement) pursuant to which Riegel spun-off its packaging business into the newly formed Rexham. Federal retained Riegel’s paper group pursuant to a merger with Riegel. International Paper Company (International Paper) and Georgia Pacific Corporation (Georgia Pacific) are successors to Riegel. Image Products Group, LLC (IPG) is the successor to Rexham. Rexam Inc. (RI) sold IPG to Sun Coating Acquisition Corp. (Sun) in 2002 and agreed to indemnify Sun and IPG for certain environmental liabilities of Rexham. On November 4, 2011, International Paper and Georgia Pacific filed a complaint against RI and IPG alleging that pursuant to the 1971 Agreement, IPG and RI are liable for 50 percent of the clean-up costs at the Crown Vantage Landfill (the Site). The Site is an inactive industrial landfill on the Delaware River in Hunterdon County, New Jersey that was operated by Riegel and its successors from the 1930s to the 1970s. The EPA conducted an emergency clean up at the Site after a 2004 flood exposed drums and other waste. Georgia Pacific took over the clean-up at the Site. Georgia Pacific later sued International Paper as a successor to Riegel. Georgia Pacific and International Paper entered into a settlement agreement under which International Paper accepted responsibility for the Site. The litigation against IPG and RI centers on the interpretation of the 1971 Agreement and whether it allocated the Site liabilities to the paper group of Riegel, which merged with and into Federal, a predecessor of International Paper, or to the packaging group of Riegel, which was spun off to Rexham. Georgia Pacific and International Paper claim they have incurred past costs at the Site of approximately $14 million, and that Rexam’s share of these costs is approximately $7 million. Georgia Pacific and International Paper have also asserted that they have incurred $30 million in remediation costs at the Curtis Paper Superfund site, the former paper mill adjacent to the Site. In addition, Georgia Pacific, International Paper and the EPA have claimed that Rexam is responsible for certain other non-material amounts associated with the Curtis Paper and related sites. On October 17, 2016, representatives of Ball/Rexam and Georgia Pacific and International Paper participated in a court ordered mediation in New Jersey in an attempt to resolve this matter. No resolution was reached. During the second quarter of 2017, the court placed the case on administratively terminated status pending ongoing discussions among the parties, and we will continue to explore various ways to reach an acceptable result and otherwise mitigate the effect of the claims. Based on the information available to the company at this time, we do not believe that this matter will have a material adverse effect upon the liquidity, results of operations or financial condition of the company. A former Rexam Personal Care site in Annecy, France, was found in 2003 to be contaminated following a leak of chlorinated solvents (TCE) from an underground feedline. The site underwent extensive investigation and an active remediation treatment system was put in place during 2006. The business operating from the site was sold to Albea in 2013 and in turn to a French company CATIDOM (operating as Reboul). Reboul vacated the site in September 2014, and the site reverted back to Rexam during the first quarter of 2015. As part of the site closure regulatory requirements, a new regulatory permit (Prefectoral Order) was issued in June 2016, which includes requirements to undertake a cost-benefit analysis and pilot studies of further treatment for the known residual solvent contamination following the shutdown of the current on-site treatment system. A new management plan will be proposed to the French Environmental Authorities (DREAL) in 2017. Based on the information available to the company at this time, we do not believe that this matter will have a material adverse effect upon the liquidity, results of operations or financial condition of the company. The company’s operations in Brazil are involved in various governmental assessments, principally related to claims for taxes on the internal transfer of inventory, gross revenue taxes and indirect tax incentives. The company does not believe that the ultimate resolution of these matters will materially impact the company’s results of operations, financial position or cash flows. Under customary local regulations, the company’s Brazilian subsidiaries may need to post cash or other collateral if the process to challenge any administrative assessment proceeds to the Brazilian court system; however, the level of any potential cash or collateral required would not significantly impact the liquidity of those subsidiaries or Ball Corporation.

Indemnifications and Guarantees

Indemnifications and Guarantees	6 Months Ended
	Jun. 30, 2017
Indemnifications and Guarantees
Indemnifications and Guarantees	19. Indemnifications and Guarantees General Guarantees The company or its appropriate consolidated direct or indirect subsidiaries, including Rexam and its subsidiaries, have made certain indemnities, commitments and guarantees under which the specified entity may be required to make payments in relation to certain transactions. These indemnities, commitments and guarantees include indemnities to the customers of the subsidiaries in connection with the sales of their packaging and aerospace products and services; guarantees to suppliers of subsidiaries of the company guaranteeing the performance of the respective entity under a purchase agreement, construction contract or other commitment; guarantees in respect of certain foreign subsidiaries’ pension plans; indemnities for liabilities associated with the infringement of third party patents, trademarks or copyrights under various types of agreements; indemnities to various lessors in connection with facility, equipment, furniture and other personal property leases for certain claims arising from such leases; indemnities to governmental agencies in connection with the issuance of a permit or license to the company or a subsidiary; indemnities pursuant to agreements relating to certain joint ventures; indemnities in connection with the sale of businesses or substantially all of the assets and specified liabilities of businesses; and indemnities to directors, officers and employees of the company to the extent permitted under the laws of the State of Indiana and the United States of America. The duration of these indemnities, commitments and guarantees varies and, in certain cases, is indefinite. In addition, many of these indemnities, commitments and guarantees do not provide for any limitation on the maximum potential future payments the company could be obligated to make. As such, the company is unable to reasonably estimate its potential exposure under these items. Other than the indemnifications in connection with the sale of the Divestment Business, the company has not recorded any material liabilities for these indemnities, commitments and guarantees in the accompanying consolidated balance sheets. The company does, however, accrue for payments under promissory notes and other evidences of incurred indebtedness and for losses for any known contingent liability, including those that may arise from indemnifications, commitments and guarantees, when future payment is both reasonably estimable and probable. Finally, the company carries specific and general liability insurance policies and has obtained indemnities, commitments and guarantees from third party purchasers, sellers and other contracting parties, which the company believes would, in certain circumstances, provide recourse to any claims arising from these indemnifications, commitments and guarantees. Debt Guarantees The company’s and its subsidiaries’ obligations under the senior notes and senior credit facilities (or, in the case of U.S. domiciled foreign subsidiaries under the senior credit facilities, the obligations of foreign credit parties only) are guaranteed on a full, unconditional and joint and several basis by certain of the company’s domestic subsidiaries and the domestic subsidiary borrowers, and obligations of other guarantors and the subsidiary borrowers under the senior credit facilities are guaranteed by the company, in each case with certain exceptions and subject to grace periods. These guarantees are required in support of the senior notes and senior credit facilities referred to above, are co-terminous with the terms of the respective note indentures, senior notes and credit agreement and could be enforced by the holders of the obligations thereunder during the continuation of an event of default under the note indentures, the senior notes or the credit agreement or any other loan document in respect thereof. The maximum potential amounts which could be required to be paid under such guarantees are essentially equal to the then outstanding obligations under the respective senior notes or the credit agreement (or, in the case of U.S. domiciled foreign subsidiaries under the senior credit facilities, the obligations of foreign credit parties only), with certain exceptions. All obligations under the guarantees of the senior credit facilities are secured, with certain exceptions and subject to certain grace periods, by a valid first priority perfected lien or pledge on (i) 100 percent of the capital stock of each of the company's material wholly owned domestic subsidiaries directly owned by the company or any of its wholly owned domestic subsidiaries and (ii) 65 percent of the capital stock of each of the company's material wholly owned first-tier foreign subsidiaries directly owned by the company or any of its wholly owned domestic subsidiaries. In addition, the obligations of certain foreign borrowers and foreign pledgors under the loan documents will be secured, with certain exceptions and subject to certain grace periods, by a valid first priority perfected lien or pledge on 100 percent of the capital stock of certain of the company's material wholly owned foreign subsidiaries and material wholly owned U.S. domiciled foreign subsidiaries directly owned by the company or any of its wholly owned material subsidiaries. The company is not in default under the above senior notes or senior credit facilities. The unaudited condensed consolidating financial information for the guarantor and non-guarantor subsidiaries is presented in Note 20. Separate financial statements for the guarantor subsidiaries and the non-guarantor subsidiaries are not presented because management has determined that such financial statements are not required by the current regulations.

Subsidiary Guarantees of Debt

Subsidiary Guarantees of Debt	6 Months Ended
	Jun. 30, 2017
Subsidiary Guarantees of Debt
Subsidiary Guarantee of Debt	20. Subsidiary Guarantees of Debt The following condensed consolidating financial information is presented in accordance with SEC Regulations S‑X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered, and comprises two separate and distinct presentations. Amounts for the three and six months ended June 30, 2017, have been revised for the adjustments identified and recorded as of December 31, 2016. Refer to Note 1for further detail. For purposes of each presentation of condensed consolidating financial information, the subsidiaries of the company providing the guarantees are referred to as the guarantor subsidiaries, and subsidiaries of the company other than the guarantor subsidiaries are referred to as the non-guarantor subsidiaries. The eliminating adjustments substantively consist of intercompany transactions and the elimination of equity investments and earnings of subsidiaries. Separate financial statements for the guarantor subsidiaries and the non-guarantor subsidiaries are not presented because management has determined that such financial statements are not required. Guarantees Relating to Shelf Registration Statement The first presentation of condensed consolidating financial information relates to the Registration Statement on Form S-3 registering debt securities of the company and the full and unconditional, joint and several guarantees of such debt securities by certain 100 percent owned domestic subsidiaries of the company. The following is unaudited condensed consolidating financial information for the company, segregating the guarantor subsidiaries and non-guarantor subsidiaries, as of June 30, 2017, and December 31, 2016, and for the three and six months ended June 30, 2017 and 2016. The condensed consolidating financial information presented below is not necessarily indicative of the financial position, results of operations, earnings or cash flows of the company or any of the company’s subsidiaries on a stand-alone basis. Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,273 $ 1,631 $ (49) $ 2,855 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,066) (1,253) 49 (2,270) Depreciation and amortization (2) (37) (190) — (229) Selling, general and administrative (55) (37) (36) — (128) Business consolidation and other activities (14) (8) (19) — (41) Equity in results of subsidiaries 148 2 — (150) — Intercompany 81 (45) (36) — — 158 (1,191) (1,534) (101) (2,668) Earnings (loss) before interest and taxes 158 82 97 (150) 187 Interest expense (68) 1 (7) — (74) Debt refinancing and other costs — — (1) — (1) Total interest expense (68) 1 (8) — (75) Earnings (loss) before taxes 90 83 89 (150) 112 Tax (provision) benefit 9 (27) (4) — (22) Equity in results of affiliates, net of tax — 1 9 — 10 Net earnings (loss) 99 57 94 (150) 100 Less net earnings attributable to noncontrolling interests — — (1) — (1) Net earnings (loss) attributable to Ball Corporation $ 99 $ 57 $ 93 $ (150) $ 99 Comprehensive earnings (loss) attributable to Ball Corporation $ (7) $ (45) $ (12) $ 57 $ (7) Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,206 $ 882 $ (58) $ 2,030 Cost and expenses Cost of sales (excluding depreciation and amortization) — (975) (679) 58 (1,596) Depreciation and amortization (1) (36) (41) — (78) Selling, general and administrative (13) (42) (50) — (105) Business consolidation and other activities 770 (6) (736) — 28 Equity in results of subsidiaries (481) 286 1 194 — Intercompany 60 (44) (16) — — 335 (817) (1,521) 252 (1,751) Earnings (loss) before interest and taxes 335 389 (639) 194 279 Interest expense (38) (1) (2) — (41) Debt refinancing and other costs (36) — (10) — (46) Total interest expense (74) (1) (12) — (87) Earnings (loss) before taxes 261 388 (651) 194 192 Tax (provision) benefit 46 (32) 100 — 114 Equity in results of affiliates, net of tax — 1 — — 1 Net earnings (loss) 307 357 (551) 194 307 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to $ 307 $ 357 $ (551) $ 194 $ 307 Ball Corporation Comprehensive earnings (loss) attributable to Ball Corporation $ 323 $ 385 $ (543) $ 158 $ 323 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,388 $ 3,004 $ (64) $ 5,328 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,969) (2,340) 64 (4,245) Depreciation and amortization (3) (73) (301) — (377) Selling, general and administrative (100) (79) (92) — (271) Business consolidation and other activities (64) (4) (28) — (96) Equity in results of subsidiaries 270 7 — (277) — Intercompany 162 (87) (75) — — 265 (2,205) (2,836) (213) (4,989) Earnings (loss) before interest and taxes 265 183 168 (277) 339 Interest expense (134) 3 (11) — (142) Debt refinancing and other costs — — (1) — (1) Total interest expense (134) 3 (12) — (143) Earnings (loss) before taxes 131 186 156 (277) 196 Tax (provision) benefit 36 (64) (16) — (44) Equity in results of affiliates, net of tax — 1 17 — 18 Net earnings 167 123 157 (277) 170 Less net earnings attributable to noncontrolling interests — — (3) — (3) Net earnings attributable to Ball Corporation $ 167 $ 123 $ 154 $ (277) $ 167 Comprehensive earnings (loss) attributable to Ball Corporation $ 189 $ 115 $ 134 $ (249) $ 189 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,281 $ 1,587 $ (83) $ 3,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,862) (1,233) 83 (3,012) Depreciation and amortization (2) (71) (80) — (153) Selling, general and administrative (32) (82) (99) — (213) Business consolidation and other activities 510 (23) (726) — (239) Equity in results of subsidiaries (396) 322 — 74 — Intercompany 110 (87) (23) — — 190 (1,803) (2,161) 157 (3,617) Earnings (loss) before interest and taxes 190 478 (574) 74 168 Interest expense (75) (1) (3) — (79) Debt refinancing and other costs (96) — (10) — (106) Total interest expense (171) (1) (13) — (185) Earnings (loss) before taxes 19 477 (587) 74 (17) Tax (provision) benefit 161 (51) 87 — 197 Equity in results of affiliates, net of tax — — — — — Net earnings 180 426 (500) 74 180 Less net earnings attributable to noncontrolling interests — — — — — Net earnings attributable to Ball Corporation $ 180 $ 426 $ (500) $ 74 $ 180 Comprehensive earnings (loss) attributable to Ball Corporation $ 227 $ 483 $ (474) $ (9) $ 227 Unaudited Condensed Consolidating Balance Sheet June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 428 $ — $ 433 Receivables, net 67 402 1,168 — 1,637 Intercompany receivables 43 116 959 (1,118) — Inventories, net — 550 974 — 1,524 Other current assets 31 34 106 — 171 Total current assets 146 1,102 3,635 (1,118) 3,765 Noncurrent assets Property, plant and equipment, net 34 1,138 3,252 — 4,424 Investment in subsidiaries 8,079 2,276 79 (10,434) — Goodwill 3 981 3,874 — 4,858 Intangible assets, net 17 71 2,424 — 2,512 Other assets 80 19 1,063 — 1,162 Total assets $ 8,359 $ 5,587 $ 14,327 $ (11,552) $ 16,721 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 273 $ — $ 49 $ — $ 322 Accounts payable 11 787 1,348 — 2,146 Intercompany payables 1,014 79 59 (1,152) — Accrued employee costs 18 120 153 — 291 Other current liabilities 289 70 232 — 591 Total current liabilities 1,605 1,056 1,841 (1,152) 3,350 Noncurrent liabilities Long-term debt 6,409 — 817 — 7,226 Employee benefit obligations 346 362 721 — 1,429 Intercompany long-term notes (3,394) 115 3,245 34 — Deferred taxes (353) 207 779 — 633 Other liabilities 142 15 216 — 373 Total liabilities 4,755 1,755 7,619 (1,118) 13,011 Common stock 1,060 635 4,426 (5,061) 1,060 Preferred stock — — 5 (5) — Retained earnings 4,849 4,018 2,743 (6,761) 4,849 Accumulated other comprehensive earnings (loss) (919) (821) (572) 1,393 (919) Treasury stock, at cost (1,386) — — — (1,386) Total Ball Corporation shareholders' equity 3,604 3,832 6,602 (10,434) 3,604 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,604 3,832 6,708 (10,434) 3,710 Total liabilities and shareholders' equity $ 8,359 $ 5,587 $ 14,327 $ (11,552) $ 16,721 Unaudited Condensed Consolidating Balance Sheet December 31, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 2 $ (11) $ 606 $ — $ 597 Receivables, net 96 450 945 — 1,491 Intercompany receivables 39 125 963 (1,127) — Inventories, net — 516 897 — 1,413 Other current assets 40 33 79 — 152 Total current assets 177 1,113 3,490 (1,127) 3,653 Noncurrent assets Property, plant and equipment, net 23 1,087 3,277 — 4,387 Investment in subsidiaries 7,815 2,289 79 (10,183) — Goodwill — 990 4,105 — 5,095 Intangible assets, net 18 76 1,840 — 1,934 Other assets 94 20 990 — 1,104 Total assets $ 8,127 $ 5,575 $ 13,781 $ (11,310) $ 16,173 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 141 $ — $ 81 $ — $ 222 Accounts payable 18 771 1,244 — 2,033 Intercompany payables 1,010 52 65 (1,127) — Accrued employee costs 25 135 155 — 315 Other current liabilities 138 65 196 — 399 Total current liabilities 1,332 1,023 1,741 (1,127) 2,969 Noncurrent liabilities Long-term debt 6,337 — 973 — 7,310 Employee benefit obligations 347 440 710 — 1,497 Intercompany long-term notes (3,142) 178 2,964 — — Deferred taxes (308) 198 549 — 439 Other liabilities 127 20 270 — 417 Total liabilities 4,693 1,859 7,207 (1,127) 12,632 Common stock 1,038 635 4,426 (5,061) 1,038 Preferred stock — — 5 (5) — Retained earnings 4,739 3,893 2,589 (6,482) 4,739 Accumulated other comprehensive earnings (loss) (942) (812) (552) 1,365 (941) Treasury stock, at cost (1,401) — — — (1,401) Total Ball Corporation shareholders' equity 3,434 3,716 6,468 (10,183) 3,435 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,434 3,716 6,574 (10,183) 3,541 Total liabilities and shareholders' equity $ 8,127 $ 5,575 $ 13,781 $ (11,310) $ 16,173 Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 219 $ 123 $ (79) $ 263 Cash flows from investing activities capital expenditures (15) (138) (87) (240) Business dispositions, net of cash sold — 31 — 31 Other, net 2 26 (26) 2 Cash provided by (used in) investing activities (13) (81) (113) (207) Cash flows from financing activities Long-term borrowings 290 — — 290 Repayments of long-term borrowings (325) — (236) (561) Net change in short-term borrowings 131 — (40) 91 Proceeds from issuances of common stock, net of shares used for taxes 14 — — 14 Acquisitions of treasury stock (3) — — (3) Common stock dividends (58) — — (58) Intercompany (252) (30) 282 — Other, net — (1) — (1) Cash provided by (used in) financing activities (203) (31) 6 (228) Effect of exchange rate changes on cash — — 8 8 Change in cash and cash equivalents 3 11 (178) (164) Cash and cash equivalents – beginning of period 2 (11) 606 597 Cash and cash equivalents – end of period $ 5 $ — $ 428 $ 433 Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (23) $ 158 $ (99) $ 36 Cash flows from investing activities capital expenditures (6) (97) (170) (273) Business acquisition, net of cash acquired 4,506 (36) (4,057) 413 Proceeds from dispositions, net of cash sold 884 — 1,931 2,815 Other, net (91) 6 (1) (86) Cash provided by (used in) investing activities 5,293 (127) (2,297) 2,869 Cash flows from financing activities Long-term borrowings 2,195 — 1,629 3,824 Repayments of long-term borrowings (590) — (31) (621) Net change in short-term borrowings 200 — 50 250 Proceeds from issuances of common stock, net of shares used for taxes 23 — — 23 Acquisitions of treasury stock (98) — — (98) Common stock dividends (37) — — (37) Intercompany (4,827) (29) 4,856 — Other, net (11) (1) (9) (21) Cash provided by (used in) financing activities (3,145) (30) 6,495 3,320 Effect of exchange rate changes on cash 5 — (55) (50) Change in cash and cash equivalents 2,130 1 4,044 6,175 Cash and cash equivalents – beginning of period 5 — 219 224 Cash and cash equivalents – end of period $ 2,135 $ 1 $ 4,263 $ 6,399 Guarantees Relating to Senior Notes The second presentation of condensed consolidating financial information relates to the existing senior notes issued by the company and the full and unconditional guarantee of such senior notes on a joint and several basis by certain domestic subsidiaries of the company. Each of the guarantor subsidiaries is 100 percent owned by the company. As described in the supplemental indentures governing the company’s existing senior notes, the senior notes are to be guaranteed by any of the company’s domestic subsidiaries that guarantee any other indebtedness of the company. The following is unaudited condensed consolidating financial information for the company, segregating the guarantor subsidiaries and non-guarantor subsidiaries, as of June 30, 2017, and December 31, 2016, and for the three and six months ended June 30, 2017 and 2016. The condensed consolidating financial information presented below is not necessarily indicative of the financial position, results of operations, earnings or cash flows of the company or any of the company’s subsidiaries on a stand-alone basis. Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,273 $ 1,631 $ (49) $ 2,855 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,066) (1,253) 49 (2,270) Depreciation and amortization (2) (37) (190) — (229) Selling, general and administrative (55) (16) (57) — (128) Business consolidation and other activities (14) (9) (18) — (41) Equity in results of subsidiaries 148 13 6 (167) — Intercompany 81 (43) (38) — — 158 (1,158) (1,550) (118) (2,668) Earnings (loss) before interest and taxes 158 115 81 (167) 187 Interest expense (68) 1 (7) — (74) Debt refinancing and other costs — — (1) — (1) Total interest expense (68) 1 (8) — (75) Earnings (loss) before taxes 90 116 73 (167) 112 Tax (provision) benefit 9 (26) (5) — (22) Equity in results of affiliates, net of tax — 1 9 — 10 Net earnings (loss) 99 91 77 (167) 100 Less net earnings attributable to noncontrolling interests — — (1) — (1) Net earnings (loss) attributable to Ball Corporation $ 99 $ 91 $ 76 $ (167) $ 99 Comprehensive earnings (loss) attributable to Ball Corporation $ (7) $ (15) $ (30) $ 45 $ (7) Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,206 $ 882 $ (58) $ 2,030 Cost and expenses Cost of sales (excluding depreciation and amortization) — (975) (679) 58 (1,596) Depreciation and amortization (1) (36) (41) — (78) Selling, general and administrative (13) (42) (50) — (105) Business consolidation and other activities 770 (19) (723) — 28 Equity in results of subsidiaries (481) (541) (810) 1,832 — Intercompany 60 (43) (17) — — 335 (1,656) (2,320) 1,890 (1,751) Earnings (loss) before interest and taxes 335 (450) (1,438) 1,832 279 Interest expense (38) (1) (2) — (41) Debt refinancing and other costs (36) — (10) — (46) Total interest expense (74) (1) (12) — (87) Earnings (loss) before taxes 261 (451) (1,450) 1,832 192 Tax (provision) benefit 46 (32) 100 — 114 Equity in results of affiliates, net of tax — 1 — — 1 Net earnings (loss) 307 (482) (1,350) 1,832 307 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to $ 307 $ (482) $ (1,350) $ 1,832 $ 307 Ball Corporation Comprehensive earnings (loss) attributable to Ball Corporation $ 323 $ (461) $ (1,342) $ 1,803 $ 323 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,388 $ 3,004 $ (64) $ 5,328 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,969) (2,340) 64 (4,245) Depreciation and amortization (3) (73) (301) — (377) Selling, general and administrative (100) (58) (113) — (271) Business consolidation and other activities (64) (5) (27) — (96) Equity in results of subsidiaries 270 17 (1) (286) — Intercompany 162 (83) (79) — — 265 (2,171) (2,861) (222) (4,989) Earnings (loss) before interest and taxes 265 217 143 (286) 339 Interest expense (134) 3 (11) — (142) Debt refinancing and other costs — — (1) — (1) Total interest expense (134) 3 (12) — (143) Earnings (loss) before taxes 131 220 131 (286) 196 Tax (provision) benefit 36 (64) (16) — (44) Equity in results of affiliates, net of tax — 1 17 — 18 Net earnings 167 157 132 (286) 170 Less net earnings attributable to noncontrolling interests — — (3) — (3) Net earnings attributable to Ball Corporation $ 167 $ 157 $ 129 $ (286) $ 167 Comprehensive earnings (loss) attributable to Ball Corporation $ 189 $ 154 $ 114 $ (268) $ 189 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,281 $ 1,587 $ (83) $ 3,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,862) (1,233) 83 (3,012) Depreciation and amortization (2) (71) (80) — (153) Selling, general and administrative (32) (82) (99) — (213) Business consolidation and other activities 510 (23) (726) — (239) Equity in results of subsidiaries (396) (505) (811) 1,712 — Intercompany 110 (84) (26) — — 190 (2,627) (2,975) 1,795 (3,617) Earnings (loss) before interest and taxes 190 (346) (1,388) 1,712 168 Interest expense (75) (1) (3) — (79) Debt refinancing and other costs (96) — (10) — (106) Total interest expense (171) (1) (13) — (185) Earnings (loss) before taxes 19 (347) (1,401) 1,712 (17) Tax (provision) benefit 161 (51) 87 — 197 Equity in results of affiliates, net of tax — — — — — Net earnings 180 (398) (1,314) 1,712 180 Less net earnings attributable to noncontrolling interests — — — — — Net earnings attributable to Ball Corporation $ 180 $ (398) $ (1,314) $ 1,712 $ 180 Comprehensive earnings (loss) attributable to Ball Corporation $ 227 $ (348) $ (1,288) $ 1,636 $ 227 Unaudited Condensed Consolidating Balance Sheet June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 428 $ — $ 433 Receivables, net 67 404 1,166 — 1,637 Intercompany receivables 43 491 959 (1,493) — Inventories, net — 550 974 — 1,524 Other current assets 31 40 100 — 171 Total current assets 146 1,485 3,627 (1,493) 3,765 Noncurrent assets Property, plant and equipment, net 34 1,139 3,251 — 4,424 Investment in subsidiaries 8,079 4,291 426 (12,796) — Goodwill 3 981 3,874 — 4,858 Intangible assets, net 17 71 2,424 — 2,512 Other assets 80 300 782 — 1,162 Total assets $ 8,359 $ 8,267 $ 14,384 $ (14,289) $ 16,721 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 273 $ — $ 49 $ — $ 322 Accounts payable 11 787 1,348 — 2,146 Intercompany payables 1,014 79 434 (1,527) — Accrued employee costs 18 133 140 — 291 Other current liabilities 289 75 227 — 591 Total current liabilities 1,605 1,074 2,198 (1,527) 3,350 Noncurrent liabilities Long-term debt 6,409 — 817 — 7,226 Employee benefit obligations 346 669 414 — 1,429 Intercompany long-term notes (3,394) 1,978 1,382 34 — Deferred taxes (353) 241 745 — 633 Other liabilities 142 31 200 — 373 Total liabilities 4,755 3,993 5,756 (1,493) 13,011 Common stock 1,060 1,127 6,294 (7,421) 1,060 Preferred stock — — 5 (5) — Retained earnings 4,849 3,988 2,790 (6,778) 4,849 Accumulated other comprehensive earnings (loss) (919) (841) (567) 1,408 (919) Treasury stock, at cost (1,386) — — — (1,386) Total Ball Corporation shareholders' equity 3,604 4,274 8,522 (12,796) 3,604 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,604 4,274 8,628 (12,796) 3,710 Total liabilities and shareholders' equity $ 8,359 $ 8,267 $ 14,384 $ (14,289) $ 16,721 Unaudited Condensed Consolidating Balance Sheet December 31, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 2 $ (11) $ 606 $ — $ 597 Receivables, net 96 450 945 — 1,491 Intercompany receivables 39 467 963 (1,469) — Inventories, net — 516 897 — 1,413 Other current assets 40 39 73 — 152 Total current assets 177 1,461 3,484 (1,469) 3,653 Noncurrent assets Property, plant and equipment, net 23 1,087 3,277 — 4,387 Investment in subsidiaries 7,815 4,291 423 (12,529) — Goodwill — 985 4,110 — 5,095 Intangible assets, net 18 76 1,840 — 1,934 Other assets 94 306 704 — 1,104 Total assets $ 8,127 $ 8,206 $ 13,838 $ (13,998) $ 16,173 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 141 $ — $ 81 $ — $ 222 Accounts payable 18 772 1,243 — 2,033 Intercompany payables 1,010 53 408 (1,471) — Accrued employee costs 25 152 138 — 315 Other current liabilities 138 69 192 — 399 Total current liabilities 1,332 1,046 2,062 (1,471) 2,969 Noncurrent liabilities Long-term debt 6,337 — 973 — 7,310 Employee benefit obligations 347 760 390 — 1,497 Intercompany long-term notes (3,142) 2,018 1,122 2 — Deferred taxes (308) 232 515 — 439 Other liabilities 127 35 255 — 417 Total liabilities 4,693 4,091 5,317 (1,469) 12,632 Common stock 1,038 1,120 6,301 (7,421) 1,038 Preferred stock — — 5 (5) — Retained earnings 4,739 3,832 2,661 (6,493) 4,739 Accumulated other comprehensive earnings (loss) (942) (837) (552) 1,390 (941) Treasury stock, at cost (1,401) — — — (1,401) Total Ball Corporation shareholders' equity 3,434 4,115 8,415 (12,529) 3,435 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,434 4,115 8,521 (12,529) 3,541 Total liabilities and shareholders' equity $ 8,127 $ 8,206 $ 13,838 $ (13,998) $ 16,173 Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 219 $ 127 $ (83) $ 263 Cash flows from investing activities capital expenditures (15) (138) (87) (240) Proceeds from dispositions, net of cash sold — 31 — 31 Other, net 2 31 (31) 2 Cash provided by (used in) investing activities (13) (76) (118) (207) Cash flows from financing activities Long-term borrowings 290 — — 290 Repayments of long-term borrowings (325) — (236) (561) Net change in short-term borrowings 131 — (40) 91 Proceeds from issuances of common stock, net of shares used for taxes 14 — — 14 Acquisitions of treasury stock (3) — — (3) Common stock dividends (58) — — (58) Intercompany (252) (39) 291 — Other, net — (1) — (1) Cash provided by (used in) financing activities (203) (40) 15 (228) Effect of exchange rate changes on cash — — 8 8 Change in cash and cash equivalents 3 11 (178) (164) Cash and cash equivalents – beginning of period 2 (11) 606 597 Cash and cash equivalents – end of period $ 5 $ — $ 428 $ 433 Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (23) $ 162 $ (103) $ 36 Cash flows from investing activities capital expenditures (6) (97) (170) (273) Business acquisition, net of cash acquired 4,506 (1,890) (2,203) 413 Proceeds from dispositions, net of cash sold 884 — 1,931 2,815 Other, net (91) 6 (1) (86) Cash provided by (used in) investing activities 5,293 (1,981) (443) 2,869 Cash flows from financing activities Long-term borrowings 2,195 — 1,629 3,824 Repayments of long-term borrowings (590) — (31) (621) Net change in short-term borrowings 200 — 50 250 Proceeds from issuances of common stock, net of shares used for taxes 23 — — 23 Acquisitions of treasury stock (98) — — (98) Common stock dividends (37) — — (37) Intercompany (4,827) 1,820 3,007 — Other, net (11) (1) (9) (21) Cash provided by (used in) financing activities (3,145) 1,819 4,646 3,320 Effect of exchange rate changes on cash 5 3 (58) (50) Change in cash and cash equivalents 2,130 3 4,042 6,175 Cash and cash equivalents – beginning of period 5 — 219 224 Cash and cash equivalents – end of period $ 2,135 $ 3 $ 4,261 $ 6,399

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2017
Subsequent events
Subsequent events	21. Subsequent Events On July 31, 2017, the company ceased production at its Recklinghausen, Germany, facilities. Additionally, an agreement with the facilities' Works Council(s) was reached allowing for the permanent closures of the Recklinghausen beverage container and end production facilities, which employ approximately 360 individuals at the time of the closures. As a result of the closures, an after-tax charge of approximately €62 million is expected to be recorded in the company's results. Approximately 80 percent of the charge will be for employee severance, placement, pension and other employee benefit costs, approximately 10 percent will be for equipment removal and cleanup costs and approximately 10 percent will be for accelerated depreciation and write-downs to net realizable value of certain fixed assets, related spare parts and inventory. All charges are expected to be incurred through the end of the second quarter of 2018. On August 7, 2017, Ball entered into a privately negotiated accelerated share repurchase agreement to purchase approximately $100 million of its common shares using cash on hand and available borrowings. The transaction is expected to reduce Ball's outstanding common shares by approximately 2.5 million shares, subject to certain conditions and a market price adjustment provision at the conclusion of the transaction.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2017
Basis of Presentation
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	($ in millions, except per share amounts) Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 2016 As Previously Reported Adjustments (a) As Revised As Previously Reported Adjustments (a) As Revised Business consolidation and other activities $ 27 $ 1 $ 28 $ (240) $ 1 $ (239) Earnings before interest and taxes 278 1 279 167 1 168 Earnings (loss) before taxes 191 1 192 (18) 1 (17) Tax (provision) benefit 146 (32) 114 229 (32) 197 Net earnings 338 (31) 307 211 (31) 180 Net earnings attributable to Ball Corporation 338 (31) 307 211 (31) 180 Basic earnings per share (b) 1.19 (0.11) 1.08 0.74 (0.11) 0.63 Diluted earnings per share (b) 1.17 (0.11) 1.06 0.73 (0.11) 0.62 (a) The company revised the amounts originally reported for the second quarter of 2016 for the following items: · Recorded $13 million of expense in business consolidation and other activities for payroll tax obligations associated with compensation arrangements for the Rexam acquisition that should have been accrued upon the change of control in the second quarter of 2016. The company identified this error during the third quarter of 2016, and recorded and disclosed the correction in the third quarter of 2016 as an out-of-period adjustment. · Recorded $14 million of additional net gain on the sale of the Divestment Business in business consolidation and other activities for assets received by the buyer that should have been included in the amount owed to the company and liabilities that should have been derecognized by the company at the date of sale, as well as other insignificant items. · Recorded $30 million of tax expense associated with using an incorrect tax basis for the gain on the sale of the Divestment Business and an additional $2 million of tax expense associated with the tax effects of the adjustments noted above. (b) Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Business Segment Information
Summary of business by segment	Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Net sales Beverage packaging, North and Central America $ 1,151 $ 844 $ 2,100 $ 1,577 Beverage packaging, South America 349 133 720 258 Beverage packaging, Europe 665 479 1,173 835 Food and aerosol packaging 274 298 546 583 Aerospace 257 193 493 373 Reportable segment sales 2,696 1,947 5,032 3,626 Other 159 83 296 159 Net sales $ 2,855 $ 2,030 $ 5,328 $ 3,785 Comparable operating earnings Beverage packaging, North and Central America (b) $ 156 $ 118 $ 279 $ 211 Beverage packaging, South America (b) 69 22 127 39 Beverage packaging, Europe (b) 63 74 110 113 Food and aerosol packaging 25 33 46 53 Aerospace 26 19 47 37 Reportable segment comparable operating earnings 339 266 609 453 Reconciling items Other (a) (b) (21) (15) (52) (46) Business consolidation and other activities (41) 28 (96) (239) Amortization of acquired Rexam intangibles (51) — (83) — Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation (39) — (39) — Earnings before interest and taxes 187 279 339 168 Interest expense (74) (41) (142) (79) Debt refinancing and other costs (1) (46) (1) (106) Total interest expense (75) (87) (143) (185) Earnings (loss) before taxes 112 192 196 (17) Tax (provision) benefit (22) 114 (44) 197 Equity in results of affiliates, net of tax 10 1 18 — Net earnings 100 307 170 180 Net earnings attributable to noncontrolling interests (1) — (3) — Net earnings attributable to Ball Corporation $ 99 $ 307 $ 167 $ 180 (a) Includes undistributed corporate expenses, net, of $32 million and $12 million for the three months ended June 30, 2017 and 2016, respectively, and $77 million and $35 million for the six months ended June 30, 2017 and 2016, respectively. (b) The three months ended June 30, 2017, includes catch-up depreciation for the three months ended March 31, 2017, from the finalization of fair values and useful lives for the Rexam acquisition associated with the following segments: $8 million for beverage packaging, Europe; $1 million for beverage packaging, North and Central America; $1 million for beverage packaging, South America; and $1 million for other.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2017
Acquisitions and Dispositions
Summary of divestment business	Three Months Ended Six Months Ended ($ in millions) June 30, 2016 June 30, 2016 Earnings before taxes $ 67 $ 104 Earnings before taxes attributable to Ball Corporation 67 104
Summary of net assets acquired	June 30, ($ in millions) 2016 Cash $ 450 Receivables, net 778 Inventories, net 782 Other current assets 165 Assets held for sale (sold to Ardagh on June 30, 2016) 911 Total current assets 3,086 Property, plant and equipment 2,301 Goodwill 3,415 Intangible assets 2,478 Restricted cash 174 Other assets 490 Total assets acquired 11,944 Short-term debt and current portion of long-term debt 2,792 Accounts payable 858 Accrued employee costs 135 Liabilities held for sale (sold to Ardagh on June 30, 2016) 7 Other current liabilities 373 Total current liabilities 4,165 Long-term debt 28 Employee benefit obligations 508 Deferred taxes and other liabilities 993 Total liabilities assumed 5,694 Net assets acquired 6,250 Noncontrolling interests (90) Aggregate value of consideration paid $ 6,160
Summary of certain intangible assets	($ in millions) Fair Value Weighted- Customer relationships $ 2,437 17 Trademarks 41 3 $ 2,478
Summary of unaudited pro forma consolidated results of operations	Three Months Ended Six Months Ended ($ in millions, except per share amounts) June 30, 2016 June 30, 2016 Net sales (1) $ 2,761 $ 5,179 Net earnings attributable to Ball Corporation (2) 28 26 Basic earnings per share 0.08 0.07 Diluted earnings per share 0.08 0.07 (1) Net sales were adjusted to include net sales of Rexam. The company also excluded the net sales attributable to the Divestment Business. (2) Pro forma adjustments to net earnings attributable to Ball Corporation were adjusted as follows: · Excludes acquisition-related transaction costs and debt refinancing costs incurred in the three and six months ended June 30, 2016. · Includes interest expense associated with the new debt utilized to finance the acquisition. · Includes depreciation and amortization expense based on the increased fair value of property, plant and equipment and amortizable intangible assets acquired. · Excludes net earnings attributable to the Divestment Business for the three and six months ended June 30, 2016. · Excludes the gain on sale of the Divestment Business in the three and six months ended June 30, 2016.

Business Consolidation and Ot31

Business Consolidation and Other Activities (Tables)	6 Months Ended
	Jun. 30, 2017
Business Consolidation and Other Activities
Summary of business consolidation and other activity (charges) / income included in the condensed consolidated statements of earnings	Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Beverage packaging, North and Central America $ (7) $ (3) $ (11) $ (6) Beverage packaging, South America (3) (9) — (9) Beverage packaging, Europe (4) (5) (7) (9) Food and aerosol packaging (1) (3) 9 (17) Other (26) 48 (87) (198) $ (41) $ 28 $ (96) $ (239)

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Jun. 30, 2017
Receivables
Schedule of receivables	June 30, December 31, ($ in millions) 2017 2016 Trade accounts receivable $ 1,342 $ 1,169 Less allowance for doubtful accounts (10) (11) Net trade accounts receivable 1,332 1,158 Other receivables 305 333 $ 1,637 $ 1,491

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2017
Inventories
Schedule of inventories	June 30, December 31, ($ in millions) 2017 2016 Raw materials and supplies $ 665 $ 607 Work-in-process and finished goods 896 839 Less inventory reserves (37) (33) $ 1,524 $ 1,413

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment
Schedule of property, plant and equipment	June 30, December 31, ($ in millions) 2017 2016 Land $ 171 $ 105 Buildings 1,357 1,301 Machinery and equipment 4,986 4,723 Construction-in-progress 432 503 6,946 6,632 Accumulated depreciation (2,522) (2,245) $ 4,424 $ 4,387

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets
Schedule of goodwill	($ in millions) Beverage Beverage Beverage Food Aerospace Other Total Balance at December 31, 2016 $ 1,614 $ 970 $ 1,632 $ 599 $ 40 $ 240 $ 5,095 Opening balance sheet adjustments (340) 328 (276) — — (68) (356) Business dispositions — — — (9) — — (9) Effects of currency exchange rates — — 106 12 — 10 128 Balance at June 30, 2017 $ 1,274 $ 1,298 $ 1,462 $ 602 $ 40 $ 182 $ 4,858

Intangible Assets,net (Tables)

Intangible Assets,net (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets
Schedule of Finite-Lived Intangible Assets	June 30, December 31, ($ in millions) 2017 2016 Acquired Rexam intangibles (net of accumulated amortization of $160 million at June 30, 2017, and $62 million at December 31, 2016) $ 2,340 $ 1,766 Capitalized software (net of accumulated amortization of $112 million at June 30, 2017, and $87 million at December 31, 2016) 86 79 Other intangibles (net of accumulated amortization of $155 million at June 30, 2017, and $143 million at December 31, 2016) 86 89 $ 2,512 $ 1,934

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Other Assets..
Schedule of other assets	June 30, December 31, ($ in millions) 2017 2016 Long-term deferred tax assets $ 447 $ 443 Long-term pension asset 163 147 Investments in affiliates 252 204 Company and trust-owned life insurance 166 146 Other 134 164 $ 1,162 $ 1,104

Debt and Interest Costs (Tables

Debt and Interest Costs (Tables)	6 Months Ended
	Jun. 30, 2017
Debt and Interest Costs
Schedule of long-term debt	June 30, December 31, ($ in millions) 2017 2016 Senior Notes 5.25% due July 2025 $ 1,000 $ 1,000 4.375% due December 2020 1,000 1,000 4.00% due November 2023 1,000 1,000 4.375%, euro denominated, due December 2023 800 736 5.00% due March 2022 750 750 3.50%, euro denominated, due December 2020 457 421 Senior Credit Facilities, due March 2021 (at variable rates) Term A loan, due June 2021 1,348 1,383 Term A loan, euro denominated, due June 2021 801 954 Multi-currency, U.S. dollar revolver, due March 2021 190 190 Other (including debt issuance costs) (42) (45) 7,304 7,389 Less: Current portion of long-term debt (78) (79) $ 7,226 $ 7,310
Schedule of Debt Refinancing and Other Costs	Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Debt Refinancing and Other Costs: Interest expense on 3.5% and 4.375% senior notes $ — $ (25) $ — $ (49) Refinancing of bridge and revolving credit facilities — (17) — (30) Economic hedge - interest rate risk — (4) — (20) Amortization of unsecured, committed bridge facility financing fees — — — (7) Individually insignificant items (1) — (1) — $ (1) $ (46) $ (1) $ (106)

Employee Benefit Obligations (T

Employee Benefit Obligations (Tables)	6 Months Ended
	Jun. 30, 2017
Employee Benefit Obligations
Schedule of employee benefit obligations	June 30, December 31, ($ in millions) 2017 2016 Underfunded defined benefit pension liabilities $ 897 $ 963 Less: Current portion (26) (25) Long-term defined benefit pension liabilities 871 938 Retiree medical and other postemployment benefits 217 226 Deferred compensation plans 280 272 Other 61 61 $ 1,429 $ 1,497
Components of net periodic benefit cost	Three Months Ended June 30, 2017 2016 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 12 $ 4 $ 16 $ 12 $ 3 $ 15 Interest cost 33 22 55 15 5 20 Expected return on plan assets (33) (26) (59) (18) (5) (23) Recognized net actuarial loss 9 1 10 8 1 9 Curtailment and settlement losses (gains) including special termination benefits — — — — 80 (a) 80 Net periodic benefit cost for Ball sponsored plans 21 1 22 17 84 101 Net periodic benefit cost for multi-employer plans 1 — 1 — — — Total net periodic benefit cost $ 22 $ 1 $ 23 $ 17 $ 84 $ 101 (a) Amount relates to plans transferred to the Divestment Business. Six Months Ended June 30, 2017 2016 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 24 $ 8 $ 32 $ 24 $ 6 $ 30 Interest cost 66 44 110 30 9 39 Expected return on plan assets (66) (52) (118) (36) (9) (45) Recognized net actuarial loss 18 2 20 15 3 18 Curtailment and settlement losses (gains) including special termination benefits — — — — 80 (a) 80 Net periodic benefit cost for Ball sponsored plans 42 2 44 33 89 122 Net periodic benefit cost for multi-employer plans 2 — 2 1 — 1 Total net periodic benefit cost $ 44 $ 2 $ 46 $ 34 $ 89 $ 123 (a) Amount relates to plans transferred to the Divestment Business.

Shareholders_ Equity and Comp40

Shareholders’ Equity and Comprehensive Earnings (Tables)	6 Months Ended
	Jun. 30, 2017
Shareholders’ Equity
Schedule of activity related to accumulated other comprehensive earnings (loss)	($ in millions) Foreign Currency Translation (Net of Tax) Pension and Other Postretirement Benefits (Net of Tax) Effective Derivatives (Net of Tax) Accumulated Other Comprehensive Earnings (Loss) Balance at December 31, 2016 $ (329) $ (590) $ (22) $ (941) Other comprehensive earnings (loss) before reclassifications (3) (23) (25) (51) Amounts reclassified from accumulated other comprehensive earnings (loss) — 11 62 73 Balance at June 30, 2017 $ (332) $ (602) $ 15 $ (919)
Information related to amounts recognized into net earnings from accumulated other comprehensive earnings (loss)	Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ — $ — $ (3) $ 3 Commodity contracts recorded in cost of sales 9 (3) 17 (10) Currency exchange contracts recorded in selling, general and administrative — (1) — (1) Cross-currency swaps recorded in selling, general and administrative (71) 1 (84) 1 Cross-currency swaps recorded in interest expense 5 — 10 — Commodity and currency exchange contracts attributable to the divestment business recorded in business consolidation and other activities — (4) — (4) Total before tax effect (57) (7) (60) (11) Tax benefit (expense) on amounts reclassified into earnings 13 — (2) (2) Recognized gain (loss) $ (44) $ (7) $ (62) $ (13) Amortization of pension and other postretirement benefits: (a) Prior service income (expense) $ — $ 2 $ — $ 2 Actuarial gains (losses) (8) (90) (17) (99) Total before tax effect (8) (88) (17) (97) Tax benefit (expense) on amounts reclassified into earnings 3 23 6 26 Recognized gain (loss) $ (5) $ (65) $ (11) $ (71) (a) The pension components are included in the computation of net periodic benefit cost included in Note 13.

Stock-Based Compensation Prog41

Stock-Based Compensation Programs (Tables)	6 Months Ended
	Jun. 30, 2017
Stock-Based Compensation Programs
Schedule of weighted average assumptions used for estimating fair values of options	April 2017 January 2017 July 2016 January 2016 Expected dividend yield 1.06 % 0.68 % 0.73 % 0.79 % Expected stock price volatility 18.89 % 20.49 % 24.14 % 29.25 % Risk-free interest rate 1.95 % 2.07 % 1.22 % 1.57 % Expected life of options (in years) 5.94 years 5.94 years 6.10 years 5.94 years

Earnings and Dividends Per Sh42

Earnings and Dividends Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share
Schedule of earnings per share	Three Months Ended June 30, Six Months Ended June 30, ($ in millions, except per share amounts; shares in thousands) 2017 2016 2017 2016 Net earnings attributable to Ball Corporation $ 99 $ 307 $ 167 $ 180 Basic weighted average common shares (a) 351,066 284,076 350,560 283,832 Effect of dilutive securities (a) 7,913 6,378 7,946 6,498 Weighted average shares applicable to diluted earnings per share (a) 358,979 290,454 358,506 290,330 Per basic share (a) $ 0.28 $ 1.08 $ 0.48 $ 0.63 Per diluted share (a) $ 0.28 $ 1.06 $ 0.47 $ 0.62 (a) Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

Financial Instruments and Ris43

Financial Instruments and Risk Management (Tables)	6 Months Ended
	Jun. 30, 2017
Financial Instruments and Risk Management
Schedule of fair value of derivative instruments	June 30, 2017 December 31, 2016 ($ in millions) Derivatives Derivatives not Total Derivatives Derivatives not Total Assets: Commodity contracts $ 29 $ 2 $ 31 $ 17 $ 1 $ 18 Foreign currency contracts 2 9 11 1 — 1 Interest rate and other contracts — 3 3 — 21 21 Total current derivative contracts $ 31 $ 14 $ 45 $ 18 $ 22 $ 40 Commodity contracts $ 6 $ — $ 6 $ 7 $ — $ 7 Interest rate and other contracts — — — 39 — 39 Total noncurrent derivative contracts $ 6 $ — $ 6 $ 46 $ — $ 46 Liabilities: Commodity contracts $ 6 $ 2 $ 8 $ 3 $ — $ 3 Foreign currency contracts — 31 31 — 22 22 Total current derivative contracts $ 6 $ 33 $ 39 $ 3 $ 22 $ 25 Commodity contracts $ 1 $ — $ 1 $ — $ — $ — Foreign currency contracts 39 — 39 — — — Total noncurrent derivative contracts $ 40 $ — $ 40 $ — $ — $ —
Schedule of impact on earnings from derivative instruments	Three Months Ended June 30, 2017 2016 ($ in millions) Location of Gain (Loss) Cash Flow Gain (Loss) on Cash Flow Gain (Loss) on Commodity contracts - manage exposure to supplier pricing Cost of sales $ 9 $ (4) $ (3) $ — Interest rate contracts - manage exposure for forecasted Rexam financing Debt refinancing and other costs — — — (4) Foreign currency contracts - manage general exposure with the business Selling, general and administrative — (14) (1) 36 Foreign currency contracts - manage exposure for proposed acquisition of Rexam Business consolidation and other activities — — — 1 Cross-currency swaps - manage exposure for proposed acquisition of Rexam Business consolidation and other activities — — — 32 Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative (71) — 1 — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 5 — — — Commodity contracts and currency exchange contracts - attributed to the divestment business Business consolidation and other activities — — (4) — Equity and inflation contracts Selling, general and administrative — 13 — 1 Total $ (57) $ (5) $ (7) $ 66 Six Months Ended June 30, 2017 2016 ($ in millions) Location of Gain (Loss) Cash Flow Gain (Loss) on Cash Flow Gain (Loss) on Commodity contracts - manage exposure to customer pricing Net sales $ (3) $ (2) $ 3 $ — Commodity contracts - manage exposure to supplier pricing Cost of sales 17 (3) (10) — Interest rate contracts - manage exposure for forecasted Rexam financing Debt refinancing and other costs — — — (20) Foreign currency contracts - manage general exposure with the business Selling, general and administrative — (29) (1) 36 Foreign currency contracts - manage exposure for acquisition of Rexam Business consolidation and other activities — — — (87) Cross-currency swaps - manage exposure for acquisition of Rexam Business consolidation and other activities — — — (4) Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative (84) — 1 — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 10 — — — Commodity contracts and currency exchange contracts - attributed to the Divestment Business Business consolidation and other activities — — (4) — Equity contracts Selling, general and administrative — 10 — (1) Total $ (60) $ (24) $ (11) $ (76)
Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives	Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2017 2016 2017 2016 Amounts reclassified into earnings: Commodity contracts $ (9) $ 3 $ (14) $ 7 Cross-currency swap contracts 66 (1) 74 (1) Commodity and currency exchange contracts attributed to the divestment business — 4 — 4 Currency exchange contracts — 1 — 1 Change in fair value of cash flow hedges: Commodity contracts (28) 13 23 6 Interest rate contracts 1 1 — Cross-currency swap contracts (66) (6) (69) (6) Currency exchange contracts 2 (3) 1 1 Foreign currency and tax impacts 15 (2) 21 (2) $ (20) $ 10 $ 37 $ 10

Subsidiary Guarantees of Debt (

Subsidiary Guarantees of Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of Condensed Consolidating Statement of Earnings	Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,273 $ 1,631 $ (49) $ 2,855 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,066) (1,253) 49 (2,270) Depreciation and amortization (2) (37) (190) — (229) Selling, general and administrative (55) (37) (36) — (128) Business consolidation and other activities (14) (8) (19) — (41) Equity in results of subsidiaries 148 2 — (150) — Intercompany 81 (45) (36) — — 158 (1,191) (1,534) (101) (2,668) Earnings (loss) before interest and taxes 158 82 97 (150) 187 Interest expense (68) 1 (7) — (74) Debt refinancing and other costs — — (1) — (1) Total interest expense (68) 1 (8) — (75) Earnings (loss) before taxes 90 83 89 (150) 112 Tax (provision) benefit 9 (27) (4) — (22) Equity in results of affiliates, net of tax — 1 9 — 10 Net earnings (loss) 99 57 94 (150) 100 Less net earnings attributable to noncontrolling interests — — (1) — (1) Net earnings (loss) attributable to Ball Corporation $ 99 $ 57 $ 93 $ (150) $ 99 Comprehensive earnings (loss) attributable to Ball Corporation $ (7) $ (45) $ (12) $ 57 $ (7) Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,206 $ 882 $ (58) $ 2,030 Cost and expenses Cost of sales (excluding depreciation and amortization) — (975) (679) 58 (1,596) Depreciation and amortization (1) (36) (41) — (78) Selling, general and administrative (13) (42) (50) — (105) Business consolidation and other activities 770 (6) (736) — 28 Equity in results of subsidiaries (481) 286 1 194 — Intercompany 60 (44) (16) — — 335 (817) (1,521) 252 (1,751) Earnings (loss) before interest and taxes 335 389 (639) 194 279 Interest expense (38) (1) (2) — (41) Debt refinancing and other costs (36) — (10) — (46) Total interest expense (74) (1) (12) — (87) Earnings (loss) before taxes 261 388 (651) 194 192 Tax (provision) benefit 46 (32) 100 — 114 Equity in results of affiliates, net of tax — 1 — — 1 Net earnings (loss) 307 357 (551) 194 307 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to $ 307 $ 357 $ (551) $ 194 $ 307 Ball Corporation Comprehensive earnings (loss) attributable to Ball Corporation $ 323 $ 385 $ (543) $ 158 $ 323 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,388 $ 3,004 $ (64) $ 5,328 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,969) (2,340) 64 (4,245) Depreciation and amortization (3) (73) (301) — (377) Selling, general and administrative (100) (79) (92) — (271) Business consolidation and other activities (64) (4) (28) — (96) Equity in results of subsidiaries 270 7 — (277) — Intercompany 162 (87) (75) — — 265 (2,205) (2,836) (213) (4,989) Earnings (loss) before interest and taxes 265 183 168 (277) 339 Interest expense (134) 3 (11) — (142) Debt refinancing and other costs — — (1) — (1) Total interest expense (134) 3 (12) — (143) Earnings (loss) before taxes 131 186 156 (277) 196 Tax (provision) benefit 36 (64) (16) — (44) Equity in results of affiliates, net of tax — 1 17 — 18 Net earnings 167 123 157 (277) 170 Less net earnings attributable to noncontrolling interests — — (3) — (3) Net earnings attributable to Ball Corporation $ 167 $ 123 $ 154 $ (277) $ 167 Comprehensive earnings (loss) attributable to Ball Corporation $ 189 $ 115 $ 134 $ (249) $ 189 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,281 $ 1,587 $ (83) $ 3,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,862) (1,233) 83 (3,012) Depreciation and amortization (2) (71) (80) — (153) Selling, general and administrative (32) (82) (99) — (213) Business consolidation and other activities 510 (23) (726) — (239) Equity in results of subsidiaries (396) 322 — 74 — Intercompany 110 (87) (23) — — 190 (1,803) (2,161) 157 (3,617) Earnings (loss) before interest and taxes 190 478 (574) 74 168 Interest expense (75) (1) (3) — (79) Debt refinancing and other costs (96) — (10) — (106) Total interest expense (171) (1) (13) — (185) Earnings (loss) before taxes 19 477 (587) 74 (17) Tax (provision) benefit 161 (51) 87 — 197 Equity in results of affiliates, net of tax — — — — — Net earnings 180 426 (500) 74 180 Less net earnings attributable to noncontrolling interests — — — — — Net earnings attributable to Ball Corporation $ 180 $ 426 $ (500) $ 74 $ 180 Comprehensive earnings (loss) attributable to Ball Corporation $ 227 $ 483 $ (474) $ (9) $ 227
Schedule of Condensed Consolidating Balance Sheet	Unaudited Condensed Consolidating Balance Sheet June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 428 $ — $ 433 Receivables, net 67 402 1,168 — 1,637 Intercompany receivables 43 116 959 (1,118) — Inventories, net — 550 974 — 1,524 Other current assets 31 34 106 — 171 Total current assets 146 1,102 3,635 (1,118) 3,765 Noncurrent assets Property, plant and equipment, net 34 1,138 3,252 — 4,424 Investment in subsidiaries 8,079 2,276 79 (10,434) — Goodwill 3 981 3,874 — 4,858 Intangible assets, net 17 71 2,424 — 2,512 Other assets 80 19 1,063 — 1,162 Total assets $ 8,359 $ 5,587 $ 14,327 $ (11,552) $ 16,721 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 273 $ — $ 49 $ — $ 322 Accounts payable 11 787 1,348 — 2,146 Intercompany payables 1,014 79 59 (1,152) — Accrued employee costs 18 120 153 — 291 Other current liabilities 289 70 232 — 591 Total current liabilities 1,605 1,056 1,841 (1,152) 3,350 Noncurrent liabilities Long-term debt 6,409 — 817 — 7,226 Employee benefit obligations 346 362 721 — 1,429 Intercompany long-term notes (3,394) 115 3,245 34 — Deferred taxes (353) 207 779 — 633 Other liabilities 142 15 216 — 373 Total liabilities 4,755 1,755 7,619 (1,118) 13,011 Common stock 1,060 635 4,426 (5,061) 1,060 Preferred stock — — 5 (5) — Retained earnings 4,849 4,018 2,743 (6,761) 4,849 Accumulated other comprehensive earnings (loss) (919) (821) (572) 1,393 (919) Treasury stock, at cost (1,386) — — — (1,386) Total Ball Corporation shareholders' equity 3,604 3,832 6,602 (10,434) 3,604 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,604 3,832 6,708 (10,434) 3,710 Total liabilities and shareholders' equity $ 8,359 $ 5,587 $ 14,327 $ (11,552) $ 16,721 Unaudited Condensed Consolidating Balance Sheet December 31, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 2 $ (11) $ 606 $ — $ 597 Receivables, net 96 450 945 — 1,491 Intercompany receivables 39 125 963 (1,127) — Inventories, net — 516 897 — 1,413 Other current assets 40 33 79 — 152 Total current assets 177 1,113 3,490 (1,127) 3,653 Noncurrent assets Property, plant and equipment, net 23 1,087 3,277 — 4,387 Investment in subsidiaries 7,815 2,289 79 (10,183) — Goodwill — 990 4,105 — 5,095 Intangible assets, net 18 76 1,840 — 1,934 Other assets 94 20 990 — 1,104 Total assets $ 8,127 $ 5,575 $ 13,781 $ (11,310) $ 16,173 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 141 $ — $ 81 $ — $ 222 Accounts payable 18 771 1,244 — 2,033 Intercompany payables 1,010 52 65 (1,127) — Accrued employee costs 25 135 155 — 315 Other current liabilities 138 65 196 — 399 Total current liabilities 1,332 1,023 1,741 (1,127) 2,969 Noncurrent liabilities Long-term debt 6,337 — 973 — 7,310 Employee benefit obligations 347 440 710 — 1,497 Intercompany long-term notes (3,142) 178 2,964 — — Deferred taxes (308) 198 549 — 439 Other liabilities 127 20 270 — 417 Total liabilities 4,693 1,859 7,207 (1,127) 12,632 Common stock 1,038 635 4,426 (5,061) 1,038 Preferred stock — — 5 (5) — Retained earnings 4,739 3,893 2,589 (6,482) 4,739 Accumulated other comprehensive earnings (loss) (942) (812) (552) 1,365 (941) Treasury stock, at cost (1,401) — — — (1,401) Total Ball Corporation shareholders' equity 3,434 3,716 6,468 (10,183) 3,435 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,434 3,716 6,574 (10,183) 3,541 Total liabilities and shareholders' equity $ 8,127 $ 5,575 $ 13,781 $ (11,310) $ 16,173
Schedule of Condensed Consolidating Statement of Cash Flows	Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 219 $ 123 $ (79) $ 263 Cash flows from investing activities capital expenditures (15) (138) (87) (240) Business dispositions, net of cash sold — 31 — 31 Other, net 2 26 (26) 2 Cash provided by (used in) investing activities (13) (81) (113) (207) Cash flows from financing activities Long-term borrowings 290 — — 290 Repayments of long-term borrowings (325) — (236) (561) Net change in short-term borrowings 131 — (40) 91 Proceeds from issuances of common stock, net of shares used for taxes 14 — — 14 Acquisitions of treasury stock (3) — — (3) Common stock dividends (58) — — (58) Intercompany (252) (30) 282 — Other, net — (1) — (1) Cash provided by (used in) financing activities (203) (31) 6 (228) Effect of exchange rate changes on cash — — 8 8 Change in cash and cash equivalents 3 11 (178) (164) Cash and cash equivalents – beginning of period 2 (11) 606 597 Cash and cash equivalents – end of period $ 5 $ — $ 428 $ 433 Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (23) $ 158 $ (99) $ 36 Cash flows from investing activities capital expenditures (6) (97) (170) (273) Business acquisition, net of cash acquired 4,506 (36) (4,057) 413 Proceeds from dispositions, net of cash sold 884 — 1,931 2,815 Other, net (91) 6 (1) (86) Cash provided by (used in) investing activities 5,293 (127) (2,297) 2,869 Cash flows from financing activities Long-term borrowings 2,195 — 1,629 3,824 Repayments of long-term borrowings (590) — (31) (621) Net change in short-term borrowings 200 — 50 250 Proceeds from issuances of common stock, net of shares used for taxes 23 — — 23 Acquisitions of treasury stock (98) — — (98) Common stock dividends (37) — — (37) Intercompany (4,827) (29) 4,856 — Other, net (11) (1) (9) (21) Cash provided by (used in) financing activities (3,145) (30) 6,495 3,320 Effect of exchange rate changes on cash 5 — (55) (50) Change in cash and cash equivalents 2,130 1 4,044 6,175 Cash and cash equivalents – beginning of period 5 — 219 224 Cash and cash equivalents – end of period $ 2,135 $ 1 $ 4,263 $ 6,399
Guarantees Relating to Senior Notes
Schedule of Condensed Consolidating Statement of Earnings	Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,273 $ 1,631 $ (49) $ 2,855 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,066) (1,253) 49 (2,270) Depreciation and amortization (2) (37) (190) — (229) Selling, general and administrative (55) (16) (57) — (128) Business consolidation and other activities (14) (9) (18) — (41) Equity in results of subsidiaries 148 13 6 (167) — Intercompany 81 (43) (38) — — 158 (1,158) (1,550) (118) (2,668) Earnings (loss) before interest and taxes 158 115 81 (167) 187 Interest expense (68) 1 (7) — (74) Debt refinancing and other costs — — (1) — (1) Total interest expense (68) 1 (8) — (75) Earnings (loss) before taxes 90 116 73 (167) 112 Tax (provision) benefit 9 (26) (5) — (22) Equity in results of affiliates, net of tax — 1 9 — 10 Net earnings (loss) 99 91 77 (167) 100 Less net earnings attributable to noncontrolling interests — — (1) — (1) Net earnings (loss) attributable to Ball Corporation $ 99 $ 91 $ 76 $ (167) $ 99 Comprehensive earnings (loss) attributable to Ball Corporation $ (7) $ (15) $ (30) $ 45 $ (7) Unaudited Condensed Consolidating Statement of Earnings Three Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,206 $ 882 $ (58) $ 2,030 Cost and expenses Cost of sales (excluding depreciation and amortization) — (975) (679) 58 (1,596) Depreciation and amortization (1) (36) (41) — (78) Selling, general and administrative (13) (42) (50) — (105) Business consolidation and other activities 770 (19) (723) — 28 Equity in results of subsidiaries (481) (541) (810) 1,832 — Intercompany 60 (43) (17) — — 335 (1,656) (2,320) 1,890 (1,751) Earnings (loss) before interest and taxes 335 (450) (1,438) 1,832 279 Interest expense (38) (1) (2) — (41) Debt refinancing and other costs (36) — (10) — (46) Total interest expense (74) (1) (12) — (87) Earnings (loss) before taxes 261 (451) (1,450) 1,832 192 Tax (provision) benefit 46 (32) 100 — 114 Equity in results of affiliates, net of tax — 1 — — 1 Net earnings (loss) 307 (482) (1,350) 1,832 307 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to $ 307 $ (482) $ (1,350) $ 1,832 $ 307 Ball Corporation Comprehensive earnings (loss) attributable to Ball Corporation $ 323 $ (461) $ (1,342) $ 1,803 $ 323 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,388 $ 3,004 $ (64) $ 5,328 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,969) (2,340) 64 (4,245) Depreciation and amortization (3) (73) (301) — (377) Selling, general and administrative (100) (58) (113) — (271) Business consolidation and other activities (64) (5) (27) — (96) Equity in results of subsidiaries 270 17 (1) (286) — Intercompany 162 (83) (79) — — 265 (2,171) (2,861) (222) (4,989) Earnings (loss) before interest and taxes 265 217 143 (286) 339 Interest expense (134) 3 (11) — (142) Debt refinancing and other costs — — (1) — (1) Total interest expense (134) 3 (12) — (143) Earnings (loss) before taxes 131 220 131 (286) 196 Tax (provision) benefit 36 (64) (16) — (44) Equity in results of affiliates, net of tax — 1 17 — 18 Net earnings 167 157 132 (286) 170 Less net earnings attributable to noncontrolling interests — — (3) — (3) Net earnings attributable to Ball Corporation $ 167 $ 157 $ 129 $ (286) $ 167 Comprehensive earnings (loss) attributable to Ball Corporation $ 189 $ 154 $ 114 $ (268) $ 189 Unaudited Condensed Consolidating Statement of Earnings Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 2,281 $ 1,587 $ (83) $ 3,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,862) (1,233) 83 (3,012) Depreciation and amortization (2) (71) (80) — (153) Selling, general and administrative (32) (82) (99) — (213) Business consolidation and other activities 510 (23) (726) — (239) Equity in results of subsidiaries (396) (505) (811) 1,712 — Intercompany 110 (84) (26) — — 190 (2,627) (2,975) 1,795 (3,617) Earnings (loss) before interest and taxes 190 (346) (1,388) 1,712 168 Interest expense (75) (1) (3) — (79) Debt refinancing and other costs (96) — (10) — (106) Total interest expense (171) (1) (13) — (185) Earnings (loss) before taxes 19 (347) (1,401) 1,712 (17) Tax (provision) benefit 161 (51) 87 — 197 Equity in results of affiliates, net of tax — — — — — Net earnings 180 (398) (1,314) 1,712 180 Less net earnings attributable to noncontrolling interests — — — — — Net earnings attributable to Ball Corporation $ 180 $ (398) $ (1,314) $ 1,712 $ 180 Comprehensive earnings (loss) attributable to Ball Corporation $ 227 $ (348) $ (1,288) $ 1,636 $ 227
Schedule of Condensed Consolidating Balance Sheet	Unaudited Condensed Consolidating Balance Sheet June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 428 $ — $ 433 Receivables, net 67 404 1,166 — 1,637 Intercompany receivables 43 491 959 (1,493) — Inventories, net — 550 974 — 1,524 Other current assets 31 40 100 — 171 Total current assets 146 1,485 3,627 (1,493) 3,765 Noncurrent assets Property, plant and equipment, net 34 1,139 3,251 — 4,424 Investment in subsidiaries 8,079 4,291 426 (12,796) — Goodwill 3 981 3,874 — 4,858 Intangible assets, net 17 71 2,424 — 2,512 Other assets 80 300 782 — 1,162 Total assets $ 8,359 $ 8,267 $ 14,384 $ (14,289) $ 16,721 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 273 $ — $ 49 $ — $ 322 Accounts payable 11 787 1,348 — 2,146 Intercompany payables 1,014 79 434 (1,527) — Accrued employee costs 18 133 140 — 291 Other current liabilities 289 75 227 — 591 Total current liabilities 1,605 1,074 2,198 (1,527) 3,350 Noncurrent liabilities Long-term debt 6,409 — 817 — 7,226 Employee benefit obligations 346 669 414 — 1,429 Intercompany long-term notes (3,394) 1,978 1,382 34 — Deferred taxes (353) 241 745 — 633 Other liabilities 142 31 200 — 373 Total liabilities 4,755 3,993 5,756 (1,493) 13,011 Common stock 1,060 1,127 6,294 (7,421) 1,060 Preferred stock — — 5 (5) — Retained earnings 4,849 3,988 2,790 (6,778) 4,849 Accumulated other comprehensive earnings (loss) (919) (841) (567) 1,408 (919) Treasury stock, at cost (1,386) — — — (1,386) Total Ball Corporation shareholders' equity 3,604 4,274 8,522 (12,796) 3,604 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,604 4,274 8,628 (12,796) 3,710 Total liabilities and shareholders' equity $ 8,359 $ 8,267 $ 14,384 $ (14,289) $ 16,721 Unaudited Condensed Consolidating Balance Sheet December 31, 2016 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 2 $ (11) $ 606 $ — $ 597 Receivables, net 96 450 945 — 1,491 Intercompany receivables 39 467 963 (1,469) — Inventories, net — 516 897 — 1,413 Other current assets 40 39 73 — 152 Total current assets 177 1,461 3,484 (1,469) 3,653 Noncurrent assets Property, plant and equipment, net 23 1,087 3,277 — 4,387 Investment in subsidiaries 7,815 4,291 423 (12,529) — Goodwill — 985 4,110 — 5,095 Intangible assets, net 18 76 1,840 — 1,934 Other assets 94 306 704 — 1,104 Total assets $ 8,127 $ 8,206 $ 13,838 $ (13,998) $ 16,173 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 141 $ — $ 81 $ — $ 222 Accounts payable 18 772 1,243 — 2,033 Intercompany payables 1,010 53 408 (1,471) — Accrued employee costs 25 152 138 — 315 Other current liabilities 138 69 192 — 399 Total current liabilities 1,332 1,046 2,062 (1,471) 2,969 Noncurrent liabilities Long-term debt 6,337 — 973 — 7,310 Employee benefit obligations 347 760 390 — 1,497 Intercompany long-term notes (3,142) 2,018 1,122 2 — Deferred taxes (308) 232 515 — 439 Other liabilities 127 35 255 — 417 Total liabilities 4,693 4,091 5,317 (1,469) 12,632 Common stock 1,038 1,120 6,301 (7,421) 1,038 Preferred stock — — 5 (5) — Retained earnings 4,739 3,832 2,661 (6,493) 4,739 Accumulated other comprehensive earnings (loss) (942) (837) (552) 1,390 (941) Treasury stock, at cost (1,401) — — — (1,401) Total Ball Corporation shareholders' equity 3,434 4,115 8,415 (12,529) 3,435 Noncontrolling interests — — 106 — 106 Total shareholders' equity 3,434 4,115 8,521 (12,529) 3,541 Total liabilities and shareholders' equity $ 8,127 $ 8,206 $ 13,838 $ (13,998) $ 16,173
Schedule of Condensed Consolidating Statement of Cash Flows	Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 219 $ 127 $ (83) $ 263 Cash flows from investing activities capital expenditures (15) (138) (87) (240) Proceeds from dispositions, net of cash sold — 31 — 31 Other, net 2 31 (31) 2 Cash provided by (used in) investing activities (13) (76) (118) (207) Cash flows from financing activities Long-term borrowings 290 — — 290 Repayments of long-term borrowings (325) — (236) (561) Net change in short-term borrowings 131 — (40) 91 Proceeds from issuances of common stock, net of shares used for taxes 14 — — 14 Acquisitions of treasury stock (3) — — (3) Common stock dividends (58) — — (58) Intercompany (252) (39) 291 — Other, net — (1) — (1) Cash provided by (used in) financing activities (203) (40) 15 (228) Effect of exchange rate changes on cash — — 8 8 Change in cash and cash equivalents 3 11 (178) (164) Cash and cash equivalents – beginning of period 2 (11) 606 597 Cash and cash equivalents – end of period $ 5 $ — $ 428 $ 433 Unaudited Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (23) $ 162 $ (103) $ 36 Cash flows from investing activities capital expenditures (6) (97) (170) (273) Business acquisition, net of cash acquired 4,506 (1,890) (2,203) 413 Proceeds from dispositions, net of cash sold 884 — 1,931 2,815 Other, net (91) 6 (1) (86) Cash provided by (used in) investing activities 5,293 (1,981) (443) 2,869 Cash flows from financing activities Long-term borrowings 2,195 — 1,629 3,824 Repayments of long-term borrowings (590) — (31) (621) Net change in short-term borrowings 200 — 50 250 Proceeds from issuances of common stock, net of shares used for taxes 23 — — 23 Acquisitions of treasury stock (98) — — (98) Common stock dividends (37) — — (37) Intercompany (4,827) 1,820 3,007 — Other, net (11) (1) (9) (21) Cash provided by (used in) financing activities (3,145) 1,819 4,646 3,320 Effect of exchange rate changes on cash 5 3 (58) (50) Change in cash and cash equivalents 2,130 3 4,042 6,175 Cash and cash equivalents – beginning of period 5 — 219 224 Cash and cash equivalents – end of period $ 2,135 $ 3 $ 4,261 $ 6,399

Basis of Presentation (Details)

Basis of Presentation (Details) $ / shares in Units, $ in Millions		May 16, 2017	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Business consolidation and other activities			$ 41	$ (28)	$ 96	$ 239
Earnings (loss) before interest and taxes			187	279	339	168
Earnings (loss) before taxes			112	192	196	(17)
Tax (provision) benefit			(22)	114	(44)	197
Net earnings			100	307	170	180
Net earnings attributable to Ball Corporation			$ 99	$ 307	$ 167	$ 180
Basic earnings (loss) per share (in dollars per share) | $ / shares	[1]		$ 0.28	$ 1.08	$ 0.48	$ 0.63
Diluted earnings (loss) per share (in dollars per share) | $ / shares	[1]		$ 0.28	$ 1.06	$ 0.47	$ 0.62
Stock split ratio		2
Ball Corporation
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Business consolidation and other activities			$ 14	$ (770)	$ 64	$ (510)
Earnings (loss) before interest and taxes			158	335	265	190
Earnings (loss) before taxes			90	261	131	19
Tax (provision) benefit			9	46	36	161
Net earnings			99	307	167	180
Net earnings attributable to Ball Corporation			$ 99	307	$ 167	180
As Previously reported
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Business consolidation and other activities				(27)		240
Earnings (loss) before interest and taxes				278		167
Earnings (loss) before taxes				191		(18)
Tax (provision) benefit				146		229
Net earnings				338		211
Net earnings attributable to Ball Corporation				$ 338		$ 211
Basic earnings (loss) per share (in dollars per share) | $ / shares				$ 1.19		$ 0.74
Diluted earnings (loss) per share (in dollars per share) | $ / shares				$ 1.17		$ 0.73
Adjustments
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Business consolidation and other activities				$ (1)		$ (1)
Earnings (loss) before interest and taxes				1		1
Earnings (loss) before taxes				1		1
Tax (provision) benefit				(32)		(32)
Net earnings				(31)		(31)
Net earnings attributable to Ball Corporation				$ (31)		$ (31)
Basic earnings (loss) per share (in dollars per share) | $ / shares				$ (0.11)		$ (0.11)
Diluted earnings (loss) per share (in dollars per share) | $ / shares				$ (0.11)		$ (0.11)
Adjustments | Adjustment For Payroll Tax Obligations Associated With Compensation Arrangements For Rexam Acquisition [Member]
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Business consolidation and other activities				$ 13
Adjustments | Adjustment For Additional Net Gain On Sale Of Divestment Business [Member]
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Business consolidation and other activities				14
Adjustments | Adjustment For Correction Of Tax Basis For Gain On Sale Of Divestment Business [Member]
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Tax (provision) benefit				30
Adjustments | Adjustment For Tax Expense Associated With Tax Effects Of Other Adjustments [Member]
Revision of the Second Quarter 2016 Unaudited Condensed Consolidated Financial Statements
Tax (provision) benefit				$ 2
[1]	Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

Accounting Pronouncements (Deta

Accounting Pronouncements (Details)	Jun. 30, 2017USD ($)
New Accounting Pronouncements, Retrospective adjustments
Prior period adjustments due to new accounting principle	$ 0
Cumulative effect adjustment to opening retained earnings, after tax	$ 0

Business Segment Information (D

Business Segment Information (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2017USD ($)segment	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Business Segment Information
Number of reportable segments | segment	5
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	$ 2,855		$ 2,030	$ 5,328	$ 3,785
Reconciling items
Other	(21)		(15)	(52)	(46)
Business consolidation and other activities	(41)		28	(96)	(239)
Amortization of acquired Rexam intangibles	(76)		(10)	(117)	(20)
Earnings (loss) before interest and taxes	187		279	339	168
Interest expense	(74)		(41)	(142)	(79)
Debt refinancing and other costs	(1)		(46)	(1)	(106)
Total interest expense	(75)		(87)	(143)	(185)
Earnings (loss) before taxes	112		192	196	(17)
Tax (provision) benefit	(22)		114	(44)	197
Equity in results of affiliates, net of tax	10		1	18
Net earnings	100		307	170	180
Net earnings attributable to noncontrolling interests	(1)			(3)
Net earnings attributable to Ball Corporation	99		307	167	180
Undistributed corporate expenses	32		12	77	35
Beverage packaging, Europe
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	63		74	110	113
Other
Reconciling items
Business consolidation and other activities	(26)		48	(87)	(198)
Operating Segments
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	2,696		1,947	5,032	3,626
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	339		266	609	453
Operating Segments | Beverage packaging, North And Central America
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	1,151		844	2,100	1,577
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	156		118	279	211
Reconciling items
Business consolidation and other activities	(7)		(3)	(11)	(6)
Operating Segments | Beverage packaging, South America
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	349		133	720	258
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	69		22	127	39
Reconciling items
Business consolidation and other activities	(3)		(9)		(9)
Operating Segments | Beverage packaging, Europe
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	665		479	1,173	835
Reconciling items
Business consolidation and other activities	(4)		(5)	(7)	(9)
Operating Segments | Food and aerosol packaging
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	274		298	546	583
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	25		33	46	53
Reconciling items
Business consolidation and other activities	(1)		(3)	9	(17)
Operating Segments | Aerospace
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	257		193	493	373
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	26		19	47	37
Operating Segments | Other
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	159		$ 83	296	$ 159
Rexam
Reconciling items
Amortization of acquired Rexam intangibles	(51)			(83)
Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation	$ (39)			$ (39)
Catch up depreciation		$ 11
Rexam | Operating Segments | Beverage packaging, North And Central America
Reconciling items
Catch up depreciation		1
Rexam | Operating Segments | Beverage packaging, South America
Reconciling items
Catch up depreciation		1
Rexam | Operating Segments | Beverage packaging, Europe
Reconciling items
Catch up depreciation		8
Rexam | Corporate and other
Reconciling items
Catch up depreciation		$ 1

Acquisitions and Dispositions (

Acquisitions and Dispositions (Details) $ / shares in Units, € in Billions, £ in Billions	May 16, 2017	Jun. 30, 2016GBP (£)facility	Jun. 30, 2016USD ($)facility$ / sharesshares	Aug. 31, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)facility$ / sharesshares	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)facility$ / sharesshares	Mar. 31, 2016EUR (€)	Mar. 31, 2016USD ($)
Rexam
Purchase price, net of cash acquired								$ (413,000,000)
Stockholders' Equity Note, Stock Split, Conversion Ratio	2
Number of manufacturing facilities held at the end of the period | facility			75			75		75
Divestment Business
Business consolidation and other activities					$ 41,000,000	$ (28,000,000)	$ 96,000,000	$ 239,000,000
Earnings before taxes							104,000,000
Earnings before taxes attributable to Ball Corporation							104,000,000
Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Rexam
Number of manufacturing facilities sold | facility		22	22
Divestment Business
Divestiture consideration received			$ 3,420,000,000			3,420,000,000		3,420,000,000
Proceeds to be received under supply agreement			103,000,000
Earnings before taxes					67,000,000
Earnings before taxes attributable to Ball Corporation					67,000,000
Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Maximum
Divestment Business
Potential contingent payment required			$ 75,000,000
North America | Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Rexam
Number of manufacturing facilities sold | facility		8	8
Europe | Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Rexam
Number of manufacturing facilities sold | facility		12	12
Brazil | Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Rexam
Number of manufacturing facilities sold | facility		2	2
Ball Corporation
Rexam
Purchase price, net of cash acquired								(4,506,000,000)
Divestment Business
Business consolidation and other activities					14,000,000	$ (770,000,000)	64,000,000	$ (510,000,000)
Ball Corporation | Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Rexam
Number of manufacturing facilities sold | facility		12	12
Rexam | Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Rexam
Number of manufacturing facilities sold | facility		10	10
Rexam
Rexam
Percentage of shares acquired			100.00%			100.00%		100.00%
Purchase price, net of cash acquired		£ 2.9	$ 3,800,000,000
Share price | $ / shares			$ 71.39			$ 71.39		$ 71.39
Value of common shares issued			$ 2,300,000,000
Consideration for stock-based compensation			$ 24,000,000
Number of manufacturing facilities acquired | facility		54	54
Rexam debt assumed			$ 2,792,000,000			$ 2,792,000,000		$ 2,792,000,000
Rexam | North America
Rexam
Number of manufacturing facilities acquired | facility		17	17
Rexam | Europe
Rexam
Number of manufacturing facilities acquired | facility		20	20
Rexam | South America
Rexam
Number of manufacturing facilities acquired | facility		12	12
Rexam | AMEA
Rexam
Number of manufacturing facilities acquired | facility		5	5
Rexam | Ball Corporation
Rexam
Number of treasury shares issued | shares			32,250,000			32,250,000		32,250,000
Senior Notes 4.375 Percent, due December 2020
Rexam
Face amount of debt			$ 1,000,000,000			$ 1,000,000,000		$ 1,000,000,000
Rexam Long Term Debt Assumed (Member) | Rexam
Rexam
Rexam debt assumed			2,800,000,000			2,800,000,000		2,800,000,000
Assumed debt extinguished				$ 2,700,000,000
Term A Loan, due June 2021
Rexam
Face amount of debt										$ 1,400,000,000
Term A Loan, Euro denominated, due June 2021
Rexam
Face amount of debt | €									€ 1.1
Business consolidation and other activities
Rexam
Pre-tax transaction costs related to the acquisition			216,000,000			216,000,000		216,000,000
Business consolidation and other activities | Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestment Business
Pre-tax gain recorded in connection with sale			330,000,000
Business consolidation and other activities					7,000,000		34,000,000
Business consolidation and other activities | Current Liabilities | Divestment Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestment Business
Estimated value of the claims under this indemnity					$ 57,000,000		$ 57,000,000
Business consolidation and other activities | Rexam
Rexam
Pre-tax transaction costs related to the acquisition			$ 216,000,000			$ 216,000,000		$ 216,000,000

Acquisitions and Dispositions -

Acquisitions and Dispositions - Net assets acquired (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2016	Jun. 30, 2016
Assets and Liabilities Acquired
Goodwill	$ 4,858		$ 5,095	$ 5,095
Ball Corporation
Assets and Liabilities Acquired
Goodwill	3
Rexam
Acquisition adjustments to initial accounting
Increase (decrease) to intangible assets	590
Increase (decrease) to investments in affiliates	31
Increase (decrease) to goodwill	(384)
Increase (decrease) to long-term deferred tax liabilities	221
Amortization recorded as a result of changes to the initial accounting of intangible assets in business combination	23	$ 8		$ 15
Depreciation recorded as a result of changes to initial accounting of fixed assets in business combination	$ 35		$ 24
Catch up depreciation		$ 11
Assets and Liabilities Acquired
Cash					$ 450
Receivables, net					778
Inventories, net					782
Other current assets					165
Assets held for sale (sold to Ardagh on June 30, 2016)					911
Total current assets					3,086
Property, plant and equipment					2,301
Goodwill					3,415
Intangible assets					2,478
Restricted cash					174
Other Assets					490
Total assets acquired					11,944
Short-term debt and current portion of long-term debt					2,792
Accounts payable					858
Accrued employee costs					135
Liabilities held for sale					7
Other current liabilities					373
Total current liabilities					4,165
Long term debt					28
Employee benefit obligations					508
Deferred taxes and other liabilities					993
Total liabilities assumed					(5,694)
Net assets acquired					6,250
Noncontrolling interests					(90)
Aggregate value of consideration paid					$ 6,160

Acquisitions and Dispositions50

Acquisitions and Dispositions - Intangible assets (Details) - Rexam $ in Millions	Jun. 30, 2016USD ($)
Certain intangible assets
Fair Value	$ 2,478
Customer relationships
Certain intangible assets
Fair Value	$ 2,437
Weighted-Average Estimated Useful Life (in Years)	17 years
Trademarks
Certain intangible assets
Fair Value	$ 41
Weighted-Average Estimated Useful Life (in Years)	3 years

Acquisitions and Dispositions51

Acquisitions and Dispositions - Pro forma (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Acquisitions
Basic earnings per share	$ 0.08	$ 0.07
Diluted earnings per share	$ 0.08	$ 0.07
Rexam
Acquisitions
Net sales, proforma	$ 2,761	$ 5,179
Net earnings attributable to Ball Corporation	$ 28	$ 26
United Kingdom | Rexam
Acquisitions
Statutory tax rate used in pro forma adjustments	20.00%	20.00%
US | Rexam
Acquisitions
Tax rate used in recording tax impact of transaction costs already incurred		37.00%

Acquisitions and Dispositions52

Acquisitions and Dispositions - Others (Details) $ in Millions, £ in Billions	Jun. 30, 2016GBP (£)	Jun. 30, 2016USD ($)	Mar. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jan. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017
Acquisitions
Purchase price, net of cash acquired						$ (413)
Ball Corporation
Acquisitions
Purchase price, net of cash acquired						$ (4,506)
Wavefront
Acquisitions
Purchase price, net of cash acquired					$ 36
Rexam
Acquisitions
Purchase price, net of cash acquired	£ 2.9	$ 3,800
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Food And Aerosol Paint And General Line Plant | Hubbard, Ohio
Disposal of business facility
Price agreed upon for sale of plant			$ 32
Gain (loss) on dispositions			$ 15
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Food And Aerosol Specialty Tin Business | Baltimore, Maryland
Disposal of business facility
Price agreed upon for sale of plant				$ 24
Gain (loss) on dispositions				$ 9
Senior Notes 4.375 Percent, due December 2020
Acquisitions
Interest rate (as a percent)							4.375%
Senior Notes 3.50 Percent, euro denominated, due December 2020
Acquisitions
Interest rate (as a percent)							3.50%
Senior Notes 4.375 Percent, euro denominated, due December 2023
Acquisitions
Interest rate (as a percent)							4.375%

Business Consolidation and Ot53

Business Consolidation and Other Activities (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Business consolidation and other activities
Business consolidation and other activities	$ (41)		$ 28	$ (96)	$ (239)
Currency exchange contracts			1		1
Senior Notes 4.375 Percent, due December 2020
Business consolidation and other activities
Face amount of debt			1,000		1,000
Ball Corporation
Business consolidation and other activities
Business consolidation and other activities	(14)		770	(64)	510
Other
Business consolidation and other activities
Business consolidation and other activities	(26)		48	(87)	(198)
Operating Segments | Beverage packaging, North And Central America
Business consolidation and other activities
Business consolidation and other activities	(7)		(3)	(11)	(6)
Charges for insignificant items	3		3	4	6
Operating Segments | Beverage packaging, North And Central America | Reidsville North Carolina Plant
Business consolidation and other activities
Plant closure costs	4			7
Operating Segments | Beverage packaging, South America
Business consolidation and other activities
Business consolidation and other activities	(3)		(9)		(9)
Charges for insignificant items	1			2
Operating Segments | Beverage packaging, South America | Rexam
Business consolidation and other activities
Professional services and other costs	2		9	2
Operating Segments | Beverage packaging, Europe
Business consolidation and other activities
Business consolidation and other activities	(4)		(5)	(7)	(9)
Charges for insignificant items	4		2	5	2
Operating Segments | Beverage packaging, Europe | Rexam
Business consolidation and other activities
Professional services and other costs			3	2	7
Operating Segments | Food and aerosol packaging
Business consolidation and other activities
Business consolidation and other activities	(1)		(3)	9	(17)
Charges for insignificant items	1		1	1	6
Other income from insignificant activities	1			1
Operating Segments | Food and aerosol packaging | Weirton West Virginia Plant
Business consolidation and other activities
Plant closure costs comprised of employee severance, pension and other benefits, asset impairments and facility shut down and disposal costs			2		11
Operating Segments | Food and aerosol packaging | Weirton West Virginia Plant | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business consolidation and other activities
Facility shutdown costs and accelerated depreciation	2			5
Operating Segments | Food and aerosol packaging | Hubbard Ohio Plant
Business consolidation and other activities
Gain (loss) on dispositions		$ 15
Corporate and other
Business consolidation and other activities
Charges for insignificant items				12	3
Professional services and other costs			1
Foreign currency unrealized loss					4
Corporate and other | Rexam
Business consolidation and other activities
Professional services and other costs			53	10	77
Recognized gains (losses) associated with collar and option contracts			(91)		179
Compensation arrangement expense			71	17	71
Corporate and other | Cross-currency swap
Business consolidation and other activities
Foreign currency unrealized loss			32
Corporate and other | Senior Notes 4.375 Percent, due December 2020
Business consolidation and other activities
Face amount of debt			1		1
Corporate and other | Other
Business consolidation and other activities
Charges for insignificant items	6
Corporate and other | Other | Rexam
Business consolidation and other activities
Professional services and other costs	5
Compensation arrangement expense	8
Divestment Business | Corporate and other | Rexam
Business consolidation and other activities
Foreign currency translation losses			99		195
Divestment Business | Corporate and other | Ball Corporation | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business consolidation and other activities
Gain (loss) on dispositions			$ 331		$ 331
Expense of indemnifications of uncertain tax positions	$ 7			34
Adjustment to gain on sale of Divestment Business				$ (14)

Receivables (Details)

Receivables (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Receivables
Trade accounts receivable	$ 1,342	$ 1,169
Less allowances for doubtful accounts	(10)	(11)
Net trade accounts receivable	1,332	1,158
Other receivables	305	333
Receivables, net	1,637	1,491
Maximum available sale of the accounts receivables under factoring program	1,000
Amount of sale of receivables	$ 658	$ 596

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Inventories
Raw materials and supplies	$ 665	$ 607
Work-in-process and finished goods	896	839
Less inventory reserves	(37)	(33)
Inventories, net	$ 1,524	$ 1,413

Property, Plant and Equipment56

Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Property, plant and equipment
Property, plant and equipment, gross	$ 6,946			$ 6,946	$ 6,632
Accumulated depreciation	(2,522)			(2,522)	(2,245)
Net property, plant and equipment	4,424			4,424	4,387
Depreciation expense	153		$ 68	260		$ 133
Land
Property, plant and equipment
Property, plant and equipment, gross	171			171	105
Buildings
Property, plant and equipment
Property, plant and equipment, gross	1,357			1,357	1,301
Machinery and equipment
Property, plant and equipment
Property, plant and equipment, gross	4,986			4,986	4,723
Construction-in-progress
Property, plant and equipment
Property, plant and equipment, gross	432			$ 432	503
Rexam
Property, plant and equipment
Depreciation for changes in values and useful lives of fixed assets and business combination valuation	$ 35				$ 24
Catch up depreciation		$ 11

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Goodwill
Opening balance sheet adjustments	$ (356)
Business disposition	(9)
Effects of currency exchange rates	128
Balance at the end of the period	4,858
Goodwill	4,858	$ 5,095
Rexam
Goodwill
Goodwill			$ 3,415
Beverage packaging, North And Central America
Goodwill
Opening balance sheet adjustments	(340)
Balance at the end of the period	1,274
Goodwill	1,274	1,614
Beverage packaging, South America
Goodwill
Opening balance sheet adjustments	328
Balance at the end of the period	1,298
Goodwill	1,298	970
Beverage packaging, Europe
Goodwill
Opening balance sheet adjustments	(276)
Effects of currency exchange rates	106
Balance at the end of the period	1,462
Goodwill	1,462	1,632
Food and aerosol packaging
Goodwill
Business disposition	(9)
Effects of currency exchange rates	12
Balance at the end of the period	602
Goodwill	602	599
Aerospace
Goodwill
Balance at the end of the period	40
Goodwill	40	40
Other
Goodwill
Opening balance sheet adjustments	(68)
Effects of currency exchange rates	10
Balance at the end of the period	182
Goodwill	182	$ 240
Beverage packaging, Asia
Goodwill
Balance at the end of the period	78
Percentage of fair value exceeding carrying value		23.00%
Goodwill	$ 78

Intangibles Assets, net (Detail

Intangibles Assets, net (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Total annual intangible asset amortization expense
Finite-lived intangible assets (net of accumulated amortization)	$ 86			$ 86		$ 89
Accumulated amortization	155		$ 143	155	$ 143
Capitalized software (net of accumulated amortization)	86			86		79
Accumulated amortization - capitalized software	112			112		87
Total intangible assets, net	2,512			2,512		1,934
Amortization of Intangible Assets	76		$ 10	117	$ 20
Ball Corporation
Total annual intangible asset amortization expense
Total intangible assets, net	17			17		18
Rexam
Total annual intangible asset amortization expense
Finite-lived intangible assets (net of accumulated amortization)	2,340			2,340		1,766
Accumulated amortization	160			160		62
Amortization of Intangible Assets	51			$ 83
Amortization recorded as a result of changes to the initial accounting of intangible assets in business combination	$ 23	$ 8				$ 15

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Other assets
Long-term deferred tax assets	$ 447	$ 443
Long-term pension asset	163	147
Investments in affiliates	252	204
Company and trust-owned life insurance	166	146
Other	134	164
Other Assets	1,162	1,104
Ball Corporation
Other assets
Other Assets	$ 80	$ 94

Debt and Interest Costs - Long

Debt and Interest Costs - Long term debt (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Long-term debt
Other (including debt issuance costs)	$ (42)	$ (45)
Long-term debt, Total	7,304	7,389
Less: Current portion of long-term debt	(78)	(79)
Long-term debt excluding current maturities	7,226	7,310
Senior Notes 5.25 Percent, due July 2025
Long-term debt
Long-term Debt, Gross	$ 1,000	1,000
Interest rate (as a percent)	5.25%
Senior Notes 4.375 Percent, due December 2020
Long-term debt
Long-term Debt, Gross	$ 1,000	1,000
Interest rate (as a percent)	4.375%
Senior Notes 4.00 Percent, due November 2023
Long-term debt
Long-term Debt, Gross	$ 1,000	1,000
Interest rate (as a percent)	4.00%
Senior Notes 4.375 Percent, euro denominated, due December 2023
Long-term debt
Long-term Debt, Gross	$ 800	736
Interest rate (as a percent)	4.375%
Senior Notes 5.00 Percent, due March 2022
Long-term debt
Long-term Debt, Gross	$ 750	750
Interest rate (as a percent)	5.00%
Senior Notes 3.50 Percent, euro denominated, due December 2020
Long-term debt
Long-term Debt, Gross	$ 457	421
Interest rate (as a percent)	3.50%
Term A Loan, due June 2021
Long-term debt
Long-term Debt, Gross	$ 1,348	1,383
Term A Loan, Euro denominated, due June 2021
Long-term debt
Long-term Debt, Gross	801	954
Multi-currency U.S. dollar revolver, due March 2021
Long-term debt
Long-term Debt, Gross	$ 190	$ 190

Debt and Interest Costs - Debt

Debt and Interest Costs - Debt refinancing (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Debt Refinancing and Other Costs: (Abstract)
Economic hedge - interest rate risk		$ (4)		$ (20)
Individually insignificant items	$ (1)		$ (1)
Debt refinancing and other costs	$ (1)	(46)	$ (1)	(106)
Senior Notes 3.5 Percent And 4.375 Percent
Debt Refinancing and Other Costs: (Abstract)
Interest expense on 3.5% and 4.375% senior notes		(25)		(49)
Bridge And Revolving Credit Facilities
Debt Refinancing and Other Costs: (Abstract)
Refinance of bridge and revolving credit facilities		$ (17)		(30)
Bridge Facility
Debt Refinancing and Other Costs: (Abstract)
Amortization of unsecured, committed bridge facility financing fees				$ (7)

Debt and Interest Costs - Activ

Debt and Interest Costs - Activity (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)	Dec. 31, 2017	Dec. 31, 2016USD ($)
Revolving credit facility
Ownership interest in guarantor subsidiaries (as a percent)	100.00%
Maximum net debt to EBITDA ratio per debt covenant	5
Forecast
Revolving credit facility
Maximum net debt to EBITDA ratio per debt covenant		4
Letter of Credit
Revolving credit facility
Carrying value	$ 34		$ 32
Level 2
Revolving credit facility
Fair value of the long-term debt	7,600		7,700
2018 Revolver
Revolving credit facility
Maximum borrowing capacity of revolving credit facility	1,500
Committed multi-currency revolving credit facilities
Revolving credit facility
Available borrowing capacity under line of credit facility	1,300
Short-term uncommitted credit facilities
Revolving credit facility
Available borrowing capacity under line of credit facility	968
Amount of credit facility outstanding and due on demand	$ 244		$ 143

Employee Benefit Obligations -

Employee Benefit Obligations - Total (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Employee Benefit Obligations
Underfunded defined benefit pension liabilities	$ 897	$ 963
Less current portion	(26)	(25)
Long-term defined benefit pension liabilities	871	938
Retiree medical and other postemployment benefits	217	226
Deferred compensation plans	280	272
Other	61	61
Total non-current employee benefit obligations	1,429	1,497
Ball Corporation
Employee Benefit Obligations
Total non-current employee benefit obligations	$ 346	$ 347

Employee Benefit Obligations 64

Employee Benefit Obligations - Components of net periodic benefit cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2017
Defined Benefit Pension Plans
Ball-sponsored plans:
Service cost	$ 16	$ 15	$ 32	$ 30
Interest cost	55	20	110	39
Expected return on plan assets	(59)	(23)	(118)	(45)
Recognized net actuarial loss	10	9	20	18
Settlements/curtailments/special termination		80		80
Net periodic benefit cost	22	101	44	122
Multi-employer plans:
Net periodic benefit cost for multiemployer plans	1		2	1
Total net periodic benefit cost	23	101	46	123
Defined Benefit Pension Plan Not Including German Swedish And Certain U S Plans | unfunded plan
Multi-employer plans:
Contributions to pension plans			110	28
Defined Benefit Pension Plan Not Including German Swedish And Certain U S Plans | Forecast | unfunded plan
Multi-employer plans:
Expected contributions to pension plans for the full year					$ 190
U.S.
Ball-sponsored plans:
Service cost	12	12	24	24
Interest cost	33	15	66	30
Expected return on plan assets	(33)	(18)	(66)	(36)
Recognized net actuarial loss	9	8	18	15
Net periodic benefit cost	21	17	42	33
Multi-employer plans:
Net periodic benefit cost for multiemployer plans	1		2	1
Total net periodic benefit cost	22	17	44	34
Foreign Plans
Ball-sponsored plans:
Service cost	4	3	8	6
Interest cost	22	5	44	9
Expected return on plan assets	(26)	(5)	(52)	(9)
Recognized net actuarial loss	1	1	2	3
Settlements/curtailments/special termination		80
Net periodic benefit cost	1		2	89
Multi-employer plans:
Total net periodic benefit cost	$ 1	84	2	89
Defined Benefit German Swedish And Certain U S Plans | unfunded plan
Multi-employer plans:
Payments to participants			$ 12	9
Minimum | Defined Benefit German Swedish And Certain U S Plans | Forecast | unfunded plan
Multi-employer plans:
Expected benefit payments to plan participants for the full year					20
Maximum | Defined Benefit German Swedish And Certain U S Plans | Forecast | unfunded plan
Multi-employer plans:
Expected benefit payments to plan participants for the full year					$ 24
Divestment Business | Foreign Plans
Ball-sponsored plans:
Settlements/curtailments/special termination				$ 80
Net periodic benefit cost		$ 84

Shareholders' Equity and Compre

Shareholders' Equity and Comprehensive Earnings - AOCI Activity (Details) $ / shares in Units, $ in Millions	May 16, 2017	Apr. 30, 2017$ / shares	Jun. 30, 2017USD ($)
Stock split
Stock split ratio	2
Percent increase to quarterly dividends		54.00%
Post-split dividend amount per share | $ / shares		$ 10
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance			$ 3,435
Stockholders' Equity Attributable to Parent, Ending Balance			3,604
Foreign Currency Translation
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance			(329)
Other comprehensive earnings (loss) before reclassifications			(3)
Stockholders' Equity Attributable to Parent, Ending Balance			(332)
Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance			(590)
Other comprehensive earnings (loss) before reclassifications			(23)
Amounts reclassified from accumulated other comprehensive earnings (loss)			11
Stockholders' Equity Attributable to Parent, Ending Balance			(602)
Effective Derivatives
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance			(22)
Other comprehensive earnings (loss) before reclassifications			(25)
Amounts reclassified from accumulated other comprehensive earnings (loss)			62
Stockholders' Equity Attributable to Parent, Ending Balance			15
Accumulated Other Comprehensive Earnings (Loss)
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance			(941)
Other comprehensive earnings (loss) before reclassifications			(51)
Amounts reclassified from accumulated other comprehensive earnings (loss)			73
Stockholders' Equity Attributable to Parent, Ending Balance			$ (919)

Shareholders' Equity and Comp66

Shareholders' Equity and Comprehensive Earnings - AOCI Additional Details (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Gains (losses) on cash flow hedges
Net sales	$ 2,855	$ 2,030	$ 5,328	$ 3,785
Cost of sales (excluding depreciation and amortization)	(2,270)	(1,596)	(4,245)	(3,012)
Selling, general and administrative	(128)	(105)	(271)	(213)
Business consolidation and other activities	(41)	28	(96)	(239)
Earnings before taxes	112	192	196	(17)
Tax benefit (expense) on amounts reclassified into earnings	(22)	114	(44)	197
Net earnings	100	307	170	180
Effective Derivatives | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Gains (losses) on cash flow hedges
Earnings before taxes	(57)	(7)	(60)	(11)
Tax benefit (expense) on amounts reclassified into earnings	13		(2)	(2)
Net Income (Loss) Attributable to Parent, Total	(44)	(7)	(62)	(13)
Effective Derivatives | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Commodity contracts
Gains (losses) on cash flow hedges
Net sales			(3)	3
Cost of sales (excluding depreciation and amortization)	9	(3)	17	(10)
Effective Derivatives | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Commodity contract and currency exchange contracts
Gains (losses) on cash flow hedges
Business consolidation and other activities		(4)		(4)
Effective Derivatives | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Foreign currency contracts
Gains (losses) on cash flow hedges
Selling, general and administrative		(1)		(1)
Effective Derivatives | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Cross-currency swap
Gains (losses) on cash flow hedges
Selling, general and administrative	(71)	1	(84)	1
Interest expense	5		10
Pension and Other Postretirement Benefits
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect			(17)	(97)
Tax benefit (expense) on amounts reclassified into earnings			6	26
Recognized gain (loss)			(11)	(71)
Pension and Other Postretirement Benefits | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	(8)	(88)
Tax benefit (expense) on amounts reclassified into earnings	3	23
Recognized gain (loss)	(5)	(65)
Prior service income (expense)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect				2
Prior service income (expense) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect		2
Actuarial gains (losses)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect			$ (17)	$ (99)
Actuarial gains (losses) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	$ (8)	$ (90)

Stock-Based Compensation Prog67

Stock-Based Compensation Programs (Details) $ / shares in Units, $ in Millions	May 16, 2017	Jun. 30, 2016USD ($)	Apr. 30, 2017$ / sharesshares	Jan. 31, 2017$ / sharesshares	Jul. 31, 2016$ / shares	Jan. 31, 2016$ / shares	Jun. 30, 2017installment	Mar. 31, 2017shares	Mar. 31, 2016shares
Stock-Based Compensation Programs
Stock split ratio	2
Stock option and SSARs
Stock-Based Compensation Programs
Number of equal installments commencing one year from the date of grant | installment							4
Vesting period							1 year
Expiration period of options							10 years
Granted (in shares)			1,300,000	1,100,000
Weighted average fair value at grant date (in dollars per share) | $ / shares			$ 7.21	$ 8.54	$ 8.35	$ 9.29
Weighted average assumptions used in estimation of fair values of options
Expected dividend yield (as a percent)			1.06%	0.68%	0.73%	0.79%
Expected stock price volatility (as a percent)			18.89%	20.49%	24.14%	29.25%
Risk-free interest rate (as a percent)			1.95%	2.07%	1.22%	1.57%
Expected life of options			5 years 11 months 9 days	5 years 11 months 9 days	6 years 1 month 6 days	5 years 11 months 9 days
PCEQs
Stock-Based Compensation Programs
Vesting period							3 years
Weighted average assumptions used in estimation of fair values of options
Granted (in shares)								237,452	237,510
PCEQs | Minimum
Weighted average assumptions used in estimation of fair values of options
Percent of participant PCEQ award assigned that determines the number of shares available at vesting date								0.00%	0.00%
PCEQs | Maximum
Weighted average assumptions used in estimation of fair values of options
Percent of participant PCEQ award assigned that determines the number of shares available at vesting date								200.00%	200.00%
PCEQs | Special Acquisition Related Incentive Plan
Stock-Based Compensation Programs
Granted (in shares)								1,100,000
PCEQs | Special Acquisition Related Incentive Plan | Minimum
Weighted average assumptions used in estimation of fair values of options
Percent of participant PCEQ award assigned that determines the number of shares available at vesting date								0.00%
PCEQs | Special Acquisition Related Incentive Plan | Maximum
Weighted average assumptions used in estimation of fair values of options
Percent of participant PCEQ award assigned that determines the number of shares available at vesting date								200.00%
Rexam
Weighted average assumptions used in estimation of fair values of options
Cash paid to settle awards vested through date of acquisition that was included in consideration paid for the acquisition | $		$ 24

Earnings and Dividends Per Sh68

Earnings and Dividends Per Share (Details) $ / shares in Units, shares in Thousands, $ in Millions		May 16, 2017	Jun. 30, 2017USD ($)$ / sharesshares	Mar. 31, 2017$ / shares	Jun. 30, 2016USD ($)$ / sharesshares	Mar. 31, 2016$ / shares	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares
Earnings Per Share
Net earnings attributable to Ball Corporation | $			$ 99		$ 307		$ 167	$ 180
Basic weighted average common shares | shares	[1]		351,066		284,076		350,560	283,832
Effect of dilutive securities (in shares) | shares			7,913		6,378		7,946	6,498
Weighted average shares applicable to diluted earnings per share | shares	[1]		358,979		290,454		358,506	290,330
Basic (in dollars per share) | $ / shares	[1]		$ 0.28		$ 1.08		$ 0.48	$ 0.63
Diluted (in dollars per share) | $ / shares	[1]		$ 0.28		$ 1.06		$ 0.47	$ 0.62
Stock split ratio		2
Number of outstanding options excluded from computation of diluted earnings per share | shares			3,000		4,000		5,000	4,000
Dividends declared (in dollars per share) | $ / shares			$ 0.10	$ 0.065	$ 0.065	$ 0.065
Dividends paid (in dollars per share) | $ / shares			$ 0.10	$ 0.065	$ 0.065	$ 0.065
[1]	Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

Financial Instruments and Ris69

Financial Instruments and Risk Management - General (Details) $ / shares in Units, $ in Millions	Jun. 30, 2017USD ($)itemapproach	Jun. 30, 2017USD ($)itemapproach$ / shares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)itemapproach	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Financial Instruments and Risk Management
Costs associated with terminated interest rate contracts			$ 4		$ 20
Aggregate fair value of derivative instruments with credit-risk-related contingent features that were in a net liability position	$ 24	$ 24		$ 24		$ 44
Collateral amount posted for derivative instruments with credit-risk-related contingent features that were in a net liability position	$ 0	$ 0		$ 0		$ 0
Commodity contracts
Financial Instruments and Risk Management
Number of methods through which entity manages commodity price risk in connection with market price fluctuations of aluminum ingot | approach	2	2		2
Notional amount of derivatives	$ 985	$ 985		$ 985
Gain (loss) on derivatives included in accumulated other comprehensive earnings (loss), net of tax	23	23		23
Net gain expected to be recognized in the consolidated statement of earnings during the next 12 months				17
Commodity contracts | Derivatives Designated As Hedging Instruments | Cash Flow Hedging
Financial Instruments and Risk Management
Notional amount of derivatives	$ 922	$ 922		922
Commodity contracts | Maximum
Financial Instruments and Risk Management
Period within which derivative will expire		3 years
Interest rate swap agreements | Cash Flow Hedging
Financial Instruments and Risk Management
Net after-tax gain (loss) included in AOCI				$ 0
Number of contracts outstanding | item	0	0		0
Currency Exchange Rate Risk
Financial Instruments and Risk Management
Notional amount of derivatives	$ 2,000	$ 2,000		$ 2,000
Period within which derivative will expire				2 years
Net gain expected to be recognized in the consolidated statement of earnings during the next 12 months				$ 5
Net after-tax gain (loss) included in AOCI	5
Cross-currency swap
Financial Instruments and Risk Management
Gain (loss) on derivatives included in accumulated other comprehensive earnings (loss), net of tax	(13)	(13)		(13)
Amount of hedge contract			$ 1,000		$ 1,000
Fair value of swaps	$ (39)	$ (39)		$ (39)
Equity contracts
Financial Instruments and Risk Management
Change in company's stock price (in dollars per share) | $ / shares		$ 1
Notional value of the swap (in shares) | item	2,700,000	2,700,000		2,700,000
Fair value of swaps	$ 3.4	$ 3.4		$ 3.4

Financial Instruments and Ris70

Financial Instruments and Risk Management - Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Fair Value Measurements
Total current derivative contracts, assets	$ 45	$ 40
Total noncurrent derivative contracts, assets	6	46
Total current derivative contracts, liabilities	39	25
Total noncurrent derivative contracts, liabilities	40
Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	31	18
Total noncurrent derivative contracts, assets	6	7
Total current derivative contracts, liabilities	8	3
Total noncurrent derivative contracts, liabilities	1
Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	11	1
Total current derivative contracts, liabilities	31	22
Interest rate and other contracts
Fair Value Measurements
Total current derivative contracts, assets	3	21
Total noncurrent derivative contracts, assets		39
Total noncurrent derivative contracts, liabilities	39
Derivatives Designated As Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	31	18
Total noncurrent derivative contracts, assets	6	46
Total current derivative contracts, liabilities	6	3
Total noncurrent derivative contracts, liabilities	40
Derivatives Designated As Hedging Instruments | Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	29	17
Total noncurrent derivative contracts, assets	6	7
Total current derivative contracts, liabilities	6	3
Total noncurrent derivative contracts, liabilities	1
Derivatives Designated As Hedging Instruments | Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	2	1
Derivatives Designated As Hedging Instruments | Interest rate and other contracts
Fair Value Measurements
Total noncurrent derivative contracts, assets		39
Total noncurrent derivative contracts, liabilities	39
Derivatives Not Designated As Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	14	22
Total current derivative contracts, liabilities	33	22
Derivatives Not Designated As Hedging Instruments | Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	2	1
Total current derivative contracts, liabilities	2
Derivatives Not Designated As Hedging Instruments | Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	9
Total current derivative contracts, liabilities	31	22
Derivatives Not Designated As Hedging Instruments | Interest rate and other contracts
Fair Value Measurements
Total current derivative contracts, assets	$ 3	$ 21

Financial Instruments and Ris71

Financial Instruments and Risk Management - Impact on Earnings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)	$ (57)	$ (7)	$ (60)	$ (11)
Gain (Loss) on Derivatives not Designated as Hedge Instruments	(5)	66	(24)	(76)
Amounts reclassified into earnings:
Commodity contracts	(9)	3	(14)	7
Cross currency swap contracts	66	(1)	74	(1)
Commodity and currency exchange contracts attributed to the divestment business		4		4
Currency exchange contracts		1		1
Change in fair value of cash flow hedges:
Commodity contracts	(28)	13	23	6
Interest rate contracts		1	1
Cross currency swap contracts	(66)	(6)	(69)	(6)
Currency exchange contracts	2	(3)	1	1
Foreign Currency and tax impacts	15	(2)	21	(2)
Changes in accumulated other comprehensive earnings (loss) for effective derivatives	(20)	10	37	10
Commodity contracts | Net sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)			(3)	3
Gain (Loss) on Derivatives not Designated as Hedge Instruments			(2)
Commodity contracts | Cost of sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)	9	(3)	17	(10)
Gain (Loss) on Derivatives not Designated as Hedge Instruments	(4)		(3)
Interest rate contracts | Debt refinancing and other costs
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments		(4)		(20)
Foreign currency contracts | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)		(1)		(1)
Gain (Loss) on Derivatives not Designated as Hedge Instruments	(14)	36	(29)	36
Foreign currency contracts | Business consolidation and other activities
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments		1		(87)
Equity contracts | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments	13	1	10	(1)
Cross-currency swap | Interest expense.
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)	5		10
Cross-currency swap | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)	$ (71)	1	$ (84)	1
Cross-currency swap | Business consolidation and other activities
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments		32		(4)
Commodity Contracts And Currency Exchange Contracts | Business consolidation and other activities
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)		$ (4)
Divestment Business | Commodity Contracts And Currency Exchange Contracts | Business consolidation and other activities
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss)				$ (4)

Contingencies - Environmental (

Contingencies - Environmental (Details) $ in Millions	Nov. 04, 2011	Jan. 31, 2015USD ($)	Nov. 30, 2012item	Jun. 30, 2017USD ($)	Sep. 30, 2014item	Jun. 30, 2017USD ($)aaction	Dec. 31, 2003	Dec. 31, 1992USD ($)company
Other Current Liabilities And Other Noncurrent Liabilities
Environmental remediation
Estimated potential liability for all environmental matters				$ 45		$ 45
Waste Disposal Remediation | Lowry Landfill Site
Environmental remediation
Number of actions in which the company is actively involved | action						0
Waste Disposal Remediation | Lowry Landfill Site | Waste Management
Environmental remediation
Project costs to date		$ 140
Period before projected completion of project when response cost is expected to exceed minimum amount							3 years
Estimated additional cleanup costs				10		$ 10
Estimated additional site costs for the potentially responsible party (PRP) group				$ 1		1
Waste Disposal Remediation | Lowry Landfill Site | Waste Management | Minimum
Environmental remediation
Site contingency response cost								$ 319
Waste Disposal Remediation | Lowry Landfill Site | Denver And Waste Management Litigation
Environmental remediation
Loss Contingency, Number of Defendants | company								38
Waste Disposal Remediation | Lower Duwamish Site
Environmental remediation
Project costs to date						100
Potential period for data review				1 year
Number of additional potentially responsible parties (PRPs) | item					20
Total site remediation costs expected to cover river bottom area in excess of amount spent to date						$ 342
Area of river bottom to be remediated (in acres) | a						200
Waste Disposal Remediation | Lower Duwamish Site | Minimum
Environmental remediation
Number of potentially responsible parties (PRPs) | item			50
Number of industrial companies and governmental entities under review | item			30
Number of PRP groups discussing allocation proposals | item			2
Waste Disposal Remediation | Crown Vantage Landfill Site | Georgia Pacific and International Paper Claims
Environmental remediation
Project costs to date						$ 14
Amount of liability for site clean up by Rexam to successor (as a percentage)	50.00%
Waste Disposal Remediation | Curtis Paper Superfund Site | Georgia Pacific And International Paper
Environmental remediation
Project costs to date						30
Rexam | Waste Disposal Remediation | Crown Vantage Landfill Site | Georgia Pacific and International Paper Claims | Georgia Pacific And International Paper
Environmental remediation
Amount of liability for site clean up costs by Rexam to successor						$ 7

Indemnifications and Guarante73

Indemnifications and Guarantees (Details)	6 Months Ended
	Jun. 30, 2017
Material Wholly Owned Domestic Subsidiaries | Senior credit facilities
Guarantees
Percent of capital stock pledged	100.00%
Material Wholly Owned First Tier Foreign Subsidiaries | Senior credit facilities
Guarantees
Percent of capital stock pledged	65.00%
Material Wholly Owned Foreign Subsidiaries And Material Wholly Owned U S Domiciled Foreign Subsidiaries | Obligation of certain foreign borrowers and foreign pledgors
Guarantees
Percent of capital stock pledged	100.00%

Subsidiary Guarantees of Debt -

Subsidiary Guarantees of Debt - Condensed Consolidating Statement of Earnings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Subsidiary Guarantees of Debt
Ownership interest in guarantor subsidiaries (as a percent)			100.00%
Net sales	$ 2,855	$ 2,030	$ 5,328	$ 3,785
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(2,270)	(1,596)	(4,245)	(3,012)
Depreciation and amortization	(229)	(78)	(377)	(153)
Selling, general and administrative	(128)	(105)	(271)	(213)
Business consolidation and other activities	(41)	28	(96)	(239)
Total costs and expenses	(2,668)	(1,751)	(4,989)	(3,617)
Earnings (loss) before interest and taxes	187	279	339	168
Interest expense	(74)	(41)	(142)	(79)
Debt refinancing and other costs	(1)	(46)	(1)	(106)
Total interest expense	(75)	(87)	(143)	(185)
Earnings (loss) before taxes	112	192	196	(17)
Tax (provision) benefit	(22)	114	(44)	197
Equity in results of affiliates, net of tax	10	1	18
Net earnings	100	307	170	180
Net earnings attributable to noncontrolling interests	(1)		(3)
Net earnings attributable to Ball Corporation	99	307	167	180
Comprehensive earnings (loss) attributable to Ball Corporation	(7)	323	189	227
Eliminating Adjustments
Subsidiary Guarantees of Debt
Net sales	(49)	(58)	(64)	(83)
Costs and expenses
Cost of sales (excluding depreciation and amortization)	49	58	64	83
Equity in results of subsidiaries	(150)	194	(277)	74
Total costs and expenses	(101)	252	(213)	157
Earnings (loss) before interest and taxes	(150)	194	(277)	74
Earnings (loss) before taxes	(150)	194	(277)	74
Net earnings	(150)	194	(277)	74
Net earnings attributable to Ball Corporation	(150)	194	(277)	74
Comprehensive earnings (loss) attributable to Ball Corporation	57	158	(249)	(9)
Guarantees Relating to Senior Notes
Subsidiary Guarantees of Debt
Net sales	2,855	2,030	5,328	3,785
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(2,270)	(1,596)	(4,245)	(3,012)
Depreciation and amortization	(229)	(78)	(377)	(153)
Selling, general and administrative	(128)	(105)	(271)	(213)
Business consolidation and other activities	(41)	28	(96)	(239)
Total costs and expenses	(2,668)	(1,751)	(4,989)	(3,617)
Earnings (loss) before interest and taxes	187	279	339	168
Interest expense	(74)	(41)	(142)	(79)
Debt refinancing and other costs	(1)	(46)	(1)	(106)
Total interest expense	(75)	(87)	(143)	(185)
Earnings (loss) before taxes	112	192	196	(17)
Tax (provision) benefit	(22)	114	(44)	197
Equity in results of affiliates, net of tax	10	1	18
Net earnings	100	307	170	180
Net earnings attributable to noncontrolling interests	(1)		(3)
Net earnings attributable to Ball Corporation	99	307	167	180
Comprehensive earnings (loss) attributable to Ball Corporation	(7)	323	189	227
Guarantees Relating to Senior Notes | Eliminating Adjustments
Subsidiary Guarantees of Debt
Net sales	(49)	(58)	(64)	(83)
Costs and expenses
Cost of sales (excluding depreciation and amortization)	49	58	64	83
Equity in results of subsidiaries	(167)	1,832	(286)	1,712
Total costs and expenses	(118)	1,890	(222)	1,795
Earnings (loss) before interest and taxes	(167)	1,832	(286)	1,712
Earnings (loss) before taxes	(167)	1,832	(286)	1,712
Net earnings	(167)	1,832	(286)	1,712
Net earnings attributable to Ball Corporation	(167)	1,832	(286)	1,712
Comprehensive earnings (loss) attributable to Ball Corporation	45	1,803	(268)	1,636
Ball Corporation
Costs and expenses
Depreciation and amortization	(2)	(1)	(3)	(2)
Selling, general and administrative	(55)	(13)	(100)	(32)
Business consolidation and other activities	(14)	770	(64)	510
Equity in results of subsidiaries	148	(481)	270	(396)
Intercompany	81	60	162	110
Total costs and expenses	158	335	265	190
Earnings (loss) before interest and taxes	158	335	265	190
Interest expense	(68)	(38)	(134)	(75)
Debt refinancing and other costs		(36)		(96)
Total interest expense	(68)	(74)	(134)	(171)
Earnings (loss) before taxes	90	261	131	19
Tax (provision) benefit	9	46	36	161
Net earnings	99	307	167	180
Net earnings attributable to Ball Corporation	99	307	167	180
Comprehensive earnings (loss) attributable to Ball Corporation	(7)	323	189	227
Ball Corporation | Guarantees Relating to Senior Notes
Costs and expenses
Depreciation and amortization	(2)	(1)	(3)	(2)
Selling, general and administrative	(55)	(13)	(100)	(32)
Business consolidation and other activities	(14)	770	(64)	510
Equity in results of subsidiaries	148	(481)	270	(396)
Intercompany	81	60	162	110
Total costs and expenses	158	335	265	190
Earnings (loss) before interest and taxes	158	335	265	190
Interest expense	(68)	(38)	(134)	(75)
Debt refinancing and other costs		(36)		(96)
Total interest expense	(68)	(74)	(134)	(171)
Earnings (loss) before taxes	90	261	131	19
Tax (provision) benefit	9	46	36	161
Net earnings	99	307	167	180
Net earnings attributable to Ball Corporation	99	307	167	180
Comprehensive earnings (loss) attributable to Ball Corporation	(7)	323	189	227
Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Net sales	1,273	1,206	2,388	2,281
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(1,066)	(975)	(1,969)	(1,862)
Depreciation and amortization	(37)	(36)	(73)	(71)
Selling, general and administrative	(37)	(42)	(79)	(82)
Business consolidation and other activities	(8)	(6)	(4)	(23)
Equity in results of subsidiaries	2	286	7	322
Intercompany	(45)	(44)	(87)	(87)
Total costs and expenses	(1,191)	(817)	(2,205)	(1,803)
Earnings (loss) before interest and taxes	82	389	183	478
Interest expense	1	(1)	3	(1)
Total interest expense	1	(1)	3	(1)
Earnings (loss) before taxes	83	388	186	477
Tax (provision) benefit	(27)	(32)	(64)	(51)
Equity in results of affiliates, net of tax	1	1	1
Net earnings	57	357	123	426
Net earnings attributable to Ball Corporation	57	357	123	426
Comprehensive earnings (loss) attributable to Ball Corporation	(45)	385	115	483
Guarantor Subsidiaries | Guarantees Relating to Senior Notes
Subsidiary Guarantees of Debt
Net sales	1,273	1,206	2,388	2,281
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(1,066)	(975)	(1,969)	(1,862)
Depreciation and amortization	(37)	(36)	(73)	(71)
Selling, general and administrative	(16)	(42)	(58)	(82)
Business consolidation and other activities	(9)	(19)	(5)	(23)
Equity in results of subsidiaries	13	(541)	17	(505)
Intercompany	(43)	(43)	(83)	(84)
Total costs and expenses	(1,158)	(1,656)	(2,171)	(2,627)
Earnings (loss) before interest and taxes	115	(450)	217	(346)
Interest expense	1	(1)	3	(1)
Total interest expense	1	(1)	3	(1)
Earnings (loss) before taxes	116	(451)	220	(347)
Tax (provision) benefit	(26)	(32)	(64)	(51)
Equity in results of affiliates, net of tax	1	1	1
Net earnings	91	(482)	157	(398)
Net earnings attributable to Ball Corporation	91	(482)	157	(398)
Comprehensive earnings (loss) attributable to Ball Corporation	(15)	(461)	154	(348)
Non-Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Net sales	1,631	882	3,004	1,587
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(1,253)	(679)	(2,340)	(1,233)
Depreciation and amortization	(190)	(41)	(301)	(80)
Selling, general and administrative	(36)	(50)	(92)	(99)
Business consolidation and other activities	(19)	(736)	(28)	(726)
Equity in results of subsidiaries		1
Intercompany	(36)	(16)	(75)	(23)
Total costs and expenses	(1,534)	(1,521)	(2,836)	(2,161)
Earnings (loss) before interest and taxes	97	(639)	168	(574)
Interest expense	(7)	(2)	(11)	(3)
Debt refinancing and other costs	(1)	(10)	(1)	(10)
Total interest expense	(8)	(12)	(12)	(13)
Earnings (loss) before taxes	89	(651)	156	(587)
Tax (provision) benefit	(4)	100	(16)	87
Equity in results of affiliates, net of tax	9		17
Net earnings	94	(551)	157	(500)
Net earnings attributable to noncontrolling interests	(1)		(3)
Net earnings attributable to Ball Corporation	93	(551)	154	(500)
Comprehensive earnings (loss) attributable to Ball Corporation	(12)	(543)	134	(474)
Non-Guarantor Subsidiaries | Guarantees Relating to Senior Notes
Subsidiary Guarantees of Debt
Net sales	1,631	882	3,004	1,587
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(1,253)	(679)	(2,340)	(1,233)
Depreciation and amortization	(190)	(41)	(301)	(80)
Selling, general and administrative	(57)	(50)	(113)	(99)
Business consolidation and other activities	(18)	(723)	(27)	(726)
Equity in results of subsidiaries	6	(810)	(1)	(811)
Intercompany	(38)	(17)	(79)	(26)
Total costs and expenses	(1,550)	(2,320)	(2,861)	(2,975)
Earnings (loss) before interest and taxes	81	(1,438)	143	(1,388)
Interest expense	(7)	(2)	(11)	(3)
Debt refinancing and other costs	(1)	(10)	(1)	(10)
Total interest expense	(8)	(12)	(12)	(13)
Earnings (loss) before taxes	73	(1,450)	131	(1,401)
Tax (provision) benefit	(5)	100	(16)	87
Equity in results of affiliates, net of tax	9		17
Net earnings	77	(1,350)	132	(1,314)
Net earnings attributable to noncontrolling interests	(1)		(3)
Net earnings attributable to Ball Corporation	76	(1,350)	129	(1,314)
Comprehensive earnings (loss) attributable to Ball Corporation	$ (30)	$ (1,342)	$ 114	$ (1,288)

Subsidiary Guarantees of Debt75

Subsidiary Guarantees of Debt - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents		$ 433	$ 597	$ 6,399	$ 224
Receivables, net		1,637	1,491
Inventories, net		1,524	1,413
Other Assets, Current		171	152
Total current assets		3,765	3,653
Noncurrent assets
Property, plant and equipment, net		4,424	4,387
Goodwill		4,858	5,095
Intangible assets, net		2,512	1,934
Other assets		1,162	1,104
Total assets		16,721	16,173
Current liabilities
Short-term debt and current portion of long-term debt		322	222
Accounts payable		2,146	2,033
Accrued employee costs		291	315
Other current liabilities		591	399
Total current liabilities		3,350	2,969
Noncurrent liabilities
Long-term debt		7,226	7,310
Employee benefit obligations		1,429	1,497
Deferred taxes		633	439
Other liabilities		373	417
Total liabilities		13,011	12,632
Common stock	[1]	1,060	1,038
Retained earnings		4,849	4,739
Accumulated other comprehensive earnings (loss)		(919)	(941)
Treasury stock, at cost	[1]	(1,386)	(1,401)
Total Ball Corporation shareholders' equity		3,604	3,435
Noncontrolling interests		106	106
Total shareholders' equity		3,710	3,541
Total liabilities and shareholders' equity		16,721	16,173
Eliminating Adjustments
Current assets
Intercompany receivables		(1,118)	(1,127)
Total current assets		(1,118)	(1,127)
Noncurrent assets
Investment in subsidiaries		(10,434)	(10,183)
Total assets		(11,552)	(11,310)
Current liabilities
Intercompany payables		(1,152)	(1,127)
Total current liabilities		(1,152)	(1,127)
Noncurrent liabilities
Intercompany long-term notes		34
Total liabilities		(1,118)	(1,127)
Common stock		(5,061)	(5,061)
Preferred stock		(5)	(5)
Retained earnings		(6,761)	(6,482)
Accumulated other comprehensive earnings (loss)		1,393	1,365
Total Ball Corporation shareholders' equity		(10,434)	(10,183)
Total shareholders' equity		(10,434)	(10,183)
Total liabilities and shareholders' equity		(11,552)	(11,310)
Ball Corporation
Current assets
Cash and cash equivalents		5	2	2,135	5
Receivables, net		67	96
Intercompany receivables		43	39
Other Assets, Current		31	40
Total current assets		146	177
Noncurrent assets
Property, plant and equipment, net		34	23
Investment in subsidiaries		8,079	7,815
Goodwill		3
Intangible assets, net		17	18
Other assets		80	94
Total assets		8,359	8,127
Current liabilities
Short-term debt and current portion of long-term debt		273	141
Accounts payable		11	18
Intercompany payables		1,014	1,010
Accrued employee costs		18	25
Other current liabilities		289	138
Total current liabilities		1,605	1,332
Noncurrent liabilities
Long-term debt		6,409	6,337
Employee benefit obligations		346	347
Intercompany long-term notes		(3,394)	(3,142)
Deferred taxes		(353)	(308)
Other liabilities		142	127
Total liabilities		4,755	4,693
Common stock		1,060	1,038
Retained earnings		4,849	4,739
Accumulated other comprehensive earnings (loss)		(919)	(942)
Treasury stock, at cost		(1,386)	(1,401)
Total Ball Corporation shareholders' equity		3,604	3,434
Total shareholders' equity		3,604	3,434
Total liabilities and shareholders' equity		8,359	8,127
Guarantor Subsidiaries
Current assets
Cash and cash equivalents			(11)	1
Receivables, net		402	450
Intercompany receivables		116	125
Inventories, net		550	516
Other Assets, Current		34	33
Total current assets		1,102	1,113
Noncurrent assets
Property, plant and equipment, net		1,138	1,087
Investment in subsidiaries		2,276	2,289
Goodwill		981	990
Intangible assets, net		71	76
Other assets		19	20
Total assets		5,587	5,575
Current liabilities
Accounts payable		787	771
Intercompany payables		79	52
Accrued employee costs		120	135
Other current liabilities		70	65
Total current liabilities		1,056	1,023
Noncurrent liabilities
Employee benefit obligations		362	440
Intercompany long-term notes		115	178
Deferred taxes		207	198
Other liabilities		15	20
Total liabilities		1,755	1,859
Common stock		635	635
Retained earnings		4,018	3,893
Accumulated other comprehensive earnings (loss)		(821)	(812)
Total Ball Corporation shareholders' equity		3,832	3,716
Total shareholders' equity		3,832	3,716
Total liabilities and shareholders' equity		5,587	5,575
Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents		428	606	4,263	219
Receivables, net		1,168	945
Intercompany receivables		959	963
Inventories, net		974	897
Other Assets, Current		106	79
Total current assets		3,635	3,490
Noncurrent assets
Property, plant and equipment, net		3,252	3,277
Investment in subsidiaries		79	79
Goodwill		3,874	4,105
Intangible assets, net		2,424	1,840
Other assets		1,063	990
Total assets		14,327	13,781
Current liabilities
Short-term debt and current portion of long-term debt		49	81
Accounts payable		1,348	1,244
Intercompany payables		59	65
Accrued employee costs		153	155
Other current liabilities		232	196
Total current liabilities		1,841	1,741
Noncurrent liabilities
Long-term debt		817	973
Employee benefit obligations		721	710
Intercompany long-term notes		3,245	2,964
Deferred taxes		779	549
Other liabilities		216	270
Total liabilities		7,619	7,207
Common stock		4,426	4,426
Preferred stock		5	5
Retained earnings		2,743	2,589
Accumulated other comprehensive earnings (loss)		(572)	(552)
Total Ball Corporation shareholders' equity		6,602	6,468
Noncontrolling interests		106	106
Total shareholders' equity		6,708	6,574
Total liabilities and shareholders' equity		14,327	13,781
Guarantees Relating to Senior Notes
Current assets
Cash and cash equivalents		433	597	6,399	224
Receivables, net		1,637	1,491
Inventories, net		1,524	1,413
Other Assets, Current		171	152
Total current assets		3,765	3,653
Noncurrent assets
Property, plant and equipment, net		4,424	4,387
Goodwill		4,858	5,095
Intangible assets, net		2,512	1,934
Other assets		1,162	1,104
Total assets		16,721	16,173
Current liabilities
Short-term debt and current portion of long-term debt		322	222
Accounts payable		2,146	2,033
Accrued employee costs		291	315
Other current liabilities		591	399
Total current liabilities		3,350	2,969
Noncurrent liabilities
Long-term debt		7,226	7,310
Employee benefit obligations		1,429	1,497
Deferred taxes		633	439
Other liabilities		373	417
Total liabilities		13,011	12,632
Common stock		1,060	1,038
Retained earnings		4,849	4,739
Accumulated other comprehensive earnings (loss)		(919)	(941)
Treasury stock, at cost		(1,386)	(1,401)
Total Ball Corporation shareholders' equity		3,604	3,435
Noncontrolling interests		106	106
Total shareholders' equity		3,710	3,541
Total liabilities and shareholders' equity		16,721	16,173
Guarantees Relating to Senior Notes | Eliminating Adjustments
Current assets
Intercompany receivables		(1,493)	(1,469)
Total current assets		(1,493)	(1,469)
Noncurrent assets
Investment in subsidiaries		(12,796)	(12,529)
Total assets		(14,289)	(13,998)
Current liabilities
Intercompany payables		(1,527)	(1,471)
Total current liabilities		(1,527)	(1,471)
Noncurrent liabilities
Intercompany long-term notes		34	2
Total liabilities		(1,493)	(1,469)
Common stock		(7,421)	(7,421)
Preferred stock		(5)	(5)
Retained earnings		(6,778)	(6,493)
Accumulated other comprehensive earnings (loss)		1,408	1,390
Total Ball Corporation shareholders' equity		(12,796)	(12,529)
Total shareholders' equity		(12,796)	(12,529)
Total liabilities and shareholders' equity		(14,289)	(13,998)
Guarantees Relating to Senior Notes | Ball Corporation
Current assets
Cash and cash equivalents		5	2	2,135	5
Receivables, net		67	96
Intercompany receivables		43	39
Other Assets, Current		31	40
Total current assets		146	177
Noncurrent assets
Property, plant and equipment, net		34	23
Investment in subsidiaries		8,079	7,815
Goodwill		3
Intangible assets, net		17	18
Other assets		80	94
Total assets		8,359	8,127
Current liabilities
Short-term debt and current portion of long-term debt		273	141
Accounts payable		11	18
Intercompany payables		1,014	1,010
Accrued employee costs		18	25
Other current liabilities		289	138
Total current liabilities		1,605	1,332
Noncurrent liabilities
Long-term debt		6,409	6,337
Employee benefit obligations		346	347
Intercompany long-term notes		(3,394)	(3,142)
Deferred taxes		(353)	(308)
Other liabilities		142	127
Total liabilities		4,755	4,693
Common stock		1,060	1,038
Retained earnings		4,849	4,739
Accumulated other comprehensive earnings (loss)		(919)	(942)
Treasury stock, at cost		(1,386)	(1,401)
Total Ball Corporation shareholders' equity		3,604	3,434
Total shareholders' equity		3,604	3,434
Total liabilities and shareholders' equity		8,359	8,127
Guarantees Relating to Senior Notes | Guarantor Subsidiaries
Current assets
Cash and cash equivalents			(11)	3
Receivables, net		404	450
Intercompany receivables		491	467
Inventories, net		550	516
Other Assets, Current		40	39
Total current assets		1,485	1,461
Noncurrent assets
Property, plant and equipment, net		1,139	1,087
Investment in subsidiaries		4,291	4,291
Goodwill		981	985
Intangible assets, net		71	76
Other assets		300	306
Total assets		8,267	8,206
Current liabilities
Accounts payable		787	772
Intercompany payables		79	53
Accrued employee costs		133	152
Other current liabilities		75	69
Total current liabilities		1,074	1,046
Noncurrent liabilities
Employee benefit obligations		669	760
Intercompany long-term notes		1,978	2,018
Deferred taxes		241	232
Other liabilities		31	35
Total liabilities		3,993	4,091
Common stock		1,127	1,120
Retained earnings		3,988	3,832
Accumulated other comprehensive earnings (loss)		(841)	(837)
Total Ball Corporation shareholders' equity		4,274	4,115
Total shareholders' equity		4,274	4,115
Total liabilities and shareholders' equity		8,267	8,206
Guarantees Relating to Senior Notes | Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents		428	606	$ 4,261	$ 219
Receivables, net		1,166	945
Intercompany receivables		959	963
Inventories, net		974	897
Other Assets, Current		100	73
Total current assets		3,627	3,484
Noncurrent assets
Property, plant and equipment, net		3,251	3,277
Investment in subsidiaries		426	423
Goodwill		3,874	4,110
Intangible assets, net		2,424	1,840
Other assets		782	704
Total assets		14,384	13,838
Current liabilities
Short-term debt and current portion of long-term debt		49	81
Accounts payable		1,348	1,243
Intercompany payables		434	408
Accrued employee costs		140	138
Other current liabilities		227	192
Total current liabilities		2,198	2,062
Noncurrent liabilities
Long-term debt		817	973
Employee benefit obligations		414	390
Intercompany long-term notes		1,382	1,122
Deferred taxes		745	515
Other liabilities		200	255
Total liabilities		5,756	5,317
Common stock		6,294	6,301
Preferred stock		5	5
Retained earnings		2,790	2,661
Accumulated other comprehensive earnings (loss)		(567)	(552)
Total Ball Corporation shareholders' equity		8,522	8,415
Noncontrolling interests		106	106
Total shareholders' equity		8,628	8,521
Total liabilities and shareholders' equity		$ 14,384	$ 13,838
[1]	Amounts in 2016 have been retrospectively adjusted for the two-for-one stock split that was effective on May 16, 2017.

Subsidiary Guarantees of Debt76

Subsidiary Guarantees of Debt - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	$ 263	$ 36
Cash flows from investing activities
Capital expenditures	(240)	(273)
Business acquisition, net of cash acquired		413
Business dispositions, net of cash sold	31	2,815
Other, net	2	(86)
Cash provided by (used in) investing activities	(207)	2,869
Cash Flows from Financing Activities
Long-term borrowings	290	3,824
Repayments of long-term borrowings	(561)	(621)
Net change in short-term borrowings	91	250
Proceeds from issuances of common stock, net of shares used for taxes	14	23
Acquisitions of treasury stock	(3)	(98)
Common stock dividends	(58)	(37)
Other, net	(1)	(21)
Cash provided by (used in) financing activities	(228)	3,320
Effect of exchange rate changes on cash	8	(50)
Change in cash and cash equivalents	(164)	6,175
Cash and cash equivalents - beginning of period	597	224
Cash and cash equivalents - end of period	433	6,399
Ball Corporation
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	219	(23)
Cash flows from investing activities
Capital expenditures	(15)	(6)
Business acquisition, net of cash acquired		4,506
Business dispositions, net of cash sold		884
Other, net	2	(91)
Cash provided by (used in) investing activities	(13)	5,293
Cash Flows from Financing Activities
Long-term borrowings	290	2,195
Repayments of long-term borrowings	(325)	(590)
Net change in short-term borrowings	131	200
Proceeds from issuances of common stock, net of shares used for taxes	14	23
Acquisitions of treasury stock	(3)	(98)
Common stock dividends	(58)	(37)
Intercompany	(252)	(4,827)
Other, net		(11)
Cash provided by (used in) financing activities	(203)	(3,145)
Effect of exchange rate changes on cash		5
Change in cash and cash equivalents	3	2,130
Cash and cash equivalents - beginning of period	2	5
Cash and cash equivalents - end of period	5	2,135
Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	123	158
Cash flows from investing activities
Capital expenditures	(138)	(97)
Business acquisition, net of cash acquired		(36)
Business dispositions, net of cash sold	31
Other, net	26	6
Cash provided by (used in) investing activities	(81)	(127)
Cash Flows from Financing Activities
Intercompany	(30)	(29)
Other, net	(1)	(1)
Cash provided by (used in) financing activities	(31)	(30)
Change in cash and cash equivalents	11	1
Cash and cash equivalents - beginning of period	(11)
Cash and cash equivalents - end of period		1
Non-Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	(79)	(99)
Cash flows from investing activities
Capital expenditures	(87)	(170)
Business acquisition, net of cash acquired		(4,057)
Business dispositions, net of cash sold		1,931
Other, net	(26)	(1)
Cash provided by (used in) investing activities	(113)	(2,297)
Cash Flows from Financing Activities
Long-term borrowings		1,629
Repayments of long-term borrowings	(236)	(31)
Net change in short-term borrowings	(40)	50
Intercompany	282	4,856
Other, net		(9)
Cash provided by (used in) financing activities	6	6,495
Effect of exchange rate changes on cash	8	(55)
Change in cash and cash equivalents	(178)	4,044
Cash and cash equivalents - beginning of period	606	219
Cash and cash equivalents - end of period	428	4,263
Guarantees Relating to Senior Notes
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	263	36
Cash flows from investing activities
Capital expenditures	(240)	(273)
Business acquisition, net of cash acquired		413
Business dispositions, net of cash sold	31	2,815
Other, net	2	(86)
Cash provided by (used in) investing activities	(207)	2,869
Cash Flows from Financing Activities
Long-term borrowings	290	3,824
Repayments of long-term borrowings	(561)	(621)
Net change in short-term borrowings	91	250
Proceeds from issuances of common stock, net of shares used for taxes	14	23
Acquisitions of treasury stock	(3)	(98)
Common stock dividends	(58)	(37)
Other, net	(1)	(21)
Cash provided by (used in) financing activities	(228)	3,320
Effect of exchange rate changes on cash	8	(50)
Change in cash and cash equivalents	(164)	6,175
Cash and cash equivalents - beginning of period	597	224
Cash and cash equivalents - end of period	433	6,399
Guarantees Relating to Senior Notes | Ball Corporation
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	219	(23)
Cash flows from investing activities
Capital expenditures	(15)	(6)
Business acquisition, net of cash acquired		4,506
Business dispositions, net of cash sold		884
Other, net	2	(91)
Cash provided by (used in) investing activities	(13)	5,293
Cash Flows from Financing Activities
Long-term borrowings	290	2,195
Repayments of long-term borrowings	(325)	(590)
Net change in short-term borrowings	131	200
Proceeds from issuances of common stock, net of shares used for taxes	14	23
Acquisitions of treasury stock	(3)	(98)
Common stock dividends	(58)	(37)
Intercompany	(252)	(4,827)
Other, net		(11)
Cash provided by (used in) financing activities	(203)	(3,145)
Effect of exchange rate changes on cash		5
Change in cash and cash equivalents	3	2,130
Cash and cash equivalents - beginning of period	2	5
Cash and cash equivalents - end of period	5	2,135
Guarantees Relating to Senior Notes | Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	127	162
Cash flows from investing activities
Capital expenditures	(138)	(97)
Business acquisition, net of cash acquired		(1,890)
Business dispositions, net of cash sold	31
Other, net	31	6
Cash provided by (used in) investing activities	(76)	(1,981)
Cash Flows from Financing Activities
Intercompany	(39)	1,820
Other, net	(1)	(1)
Cash provided by (used in) financing activities	(40)	1,819
Effect of exchange rate changes on cash		3
Change in cash and cash equivalents	11	3
Cash and cash equivalents - beginning of period	(11)
Cash and cash equivalents - end of period		3
Guarantees Relating to Senior Notes | Non-Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	(83)	(103)
Cash flows from investing activities
Capital expenditures	(87)	(170)
Business acquisition, net of cash acquired		(2,203)
Business dispositions, net of cash sold		1,931
Other, net	(31)	(1)
Cash provided by (used in) investing activities	(118)	(443)
Cash Flows from Financing Activities
Long-term borrowings		1,629
Repayments of long-term borrowings	(236)	(31)
Net change in short-term borrowings	(40)	50
Intercompany	291	3,007
Other, net		(9)
Cash provided by (used in) financing activities	15	4,646
Effect of exchange rate changes on cash	8	(58)
Change in cash and cash equivalents	(178)	4,042
Cash and cash equivalents - beginning of period	606	219
Cash and cash equivalents - end of period	$ 428	$ 4,261

Subsequent events (Details)

Subsequent events (Details) - Subsequent Event. € in Millions, shares in Millions, $ in Millions	Aug. 07, 2017USD ($)shares	Jul. 31, 2017EUR (€)employee
Common shares
Subsequent events.
Stock Repurchase Program, Authorized Amount | $	$ 100
Common shares | Forecast
Subsequent events.
Expected reduction in number of common shares outstanding | shares	2.5
Recklinghausen, Germany | Recklinghausen beverage container and end production facilities | Disposal group, not discontinued operations
Subsequent events.
Number of employees | employee		360
Recklinghausen, Germany | Recklinghausen beverage container and end production facilities | Disposal group, not discontinued operations | Forecast
Subsequent events.
Business Exit Costs | €		€ 62
Severance costs (as a percent)		80.00%
Equipment removal and facility cleanup costs (as a percent)		10.00%
Accelerated depreciation and write-downs to net realizable value of certain fixed assets, related spare parts and inventory (as a percent)		10.00%