Ball (BALL) 10-Q 2 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 31, 2018
Document and Entity Information
Entity Registrant Name	BALL CORP
Entity Central Index Key	9,389
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		339,191,207
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
Net sales	$ 2,946	$ 2,908	$ 8,832	$ 8,236
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(2,362)	(2,338)	(7,083)	(6,583)
Depreciation and amortization	(171)	(162)	(529)	(539)
Selling, general and administrative	(113)	(127)	(352)	(398)
Business consolidation and other activities	(32)	(157)	(131)	(253)
Total costs and expenses	(2,678)	(2,784)	(8,095)	(7,773)
Earnings before interest and taxes	268	124	737	463
Interest expense	(76)	(74)	(226)	(216)
Debt refinancing and other costs			(1)	(1)
Total interest expense	(76)	(74)	(227)	(217)
Earnings before taxes	192	50	510	246
Tax (provision) benefit	(140)	(4)	(220)	(48)
Equity in results of affiliates, net of tax	7	5	14	23
Net earnings	59	51	304	221
Net earnings attributable to noncontrolling interests		(3)	(1)	(6)
Net earnings attributable to Ball Corporation	$ 59	$ 48	$ 303	$ 215
Earnings per share:
Basic (in dollars per share)	$ 0.17	$ 0.14	$ 0.87	$ 0.61
Diluted (in dollars per share)	$ 0.17	$ 0.13	$ 0.86	$ 0.60
Weighted average shares outstanding (000s):
Basic (in shares)	342,982	350,327	347,113	350,481
Diluted (in shares)	349,709	358,556	353,755	358,492

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS)
Net earnings	$ 59	$ 51	$ 304	$ 221
Other comprehensive earnings (loss):
Foreign currency translation adjustment	(47)	3	(157)	16
Pension and other postretirement benefits	49	19	68	1
Effective financial derivatives	(28)	(7)	(48)	9
Total other comprehensive earnings (loss)	(26)	15	(137)	26
Income tax (provision) benefit	(7)	(20)	(7)	(9)
Total other comprehensive earnings (loss), net of tax	(33)	(5)	(144)	17
Total comprehensive earnings (loss)	26	46	160	238
Comprehensive (earnings) loss attributable to noncontrolling interests		(4)	(1)	(7)
Comprehensive earnings (loss) attributable to Ball Corporation	$ 26	$ 42	$ 159	$ 231

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2018	Jan. 02, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 598		$ 448	$ 556	$ 597
Receivables, net	1,872	$ 1,941	1,634
Inventories, net	1,243	1,285	1,526
Other current assets	147	146	150
Total current assets	3,860		3,758
Noncurrent assets
Property, plant and equipment, net	4,508		4,610
Goodwill	4,497		4,933
Intangible assets, net	2,247		2,462
Other assets	1,358		1,406
Total assets	16,470		17,169
Current liabilities
Short-term debt and current portion of long-term debt	150		453
Accounts payable	2,953		2,762
Accrued employee costs	260		352
Other current liabilities	450	557	540
Total current liabilities	3,813		4,107
Noncurrent liabilities
Long-term debt	6,523		6,518
Employee benefit obligations	1,421		1,463
Deferred taxes	672	702	695
Other liabilities	296		340
Total liabilities	12,725		13,123
Shareholders' equity
Common stock (672,699,3832 shares issued - 2018; 670,576,215 shares issued - 2017)	1,142		1,084
Retained earnings	5,224	5,024	4,987
Accumulated other comprehensive earnings (loss)	(800)	$ (655)	(656)
Treasury stock, at cost (332,017,564 shares - 2018; 320,694,598 shares - 2017)	(1,926)		(1,474)
Total Ball Corporation shareholders' equity	3,640		3,941
Noncontrolling interests	105		105
Total shareholders' equity	3,745		4,046
Total liabilities and shareholders' equity	$ 16,470		$ 17,169

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Sep. 30, 2018	Dec. 31, 2017
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, shares issued	672,699,383	670,576,215
Treasury stock, at cost	332,017,564	320,694,598

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash Flows from Operating Activities
Net earnings	$ 304	$ 221
Adjustments to reconcile net earnings to cash provided by (used in) continuing operating activities:
Depreciation and amortization	529	539
Business consolidation and other activities	131	253
Deferred tax provision (benefit)	103
Other, net	72	(229)
Changes in working capital components, net of dispositions	(112)	(40)
Cash provided by (used in) operating activities (a)	1,027	744
Cash Flows from Investing Activities
Capital expenditures	(616)	(404)
Business dispositions, net of cash sold	551	31
Other, net	50	3
Cash provided by (used in) investing activities	(15)	(370)
Cash Flows from Financing Activities
Long-term borrowings	1,475	440
Repayments of long-term borrowings	(1,531)	(909)
Net change in short-term borrowings	(189)	220
Proceeds from issuances of common stock, net of shares used for taxes	25	18
Acquisitions of treasury stock	(464)	(103)
Common stock dividends	(104)	(93)
Other, net	(13)	(2)
Cash provided by (used in) financing activities	(801)	(429)
Effect of exchange rate changes on cash	(59)	11
Cash and cash equivalents – beginning of year	448	597
Cash and cash equivalents – end of year	598	556
Change in cash, cash equivalents and restricted cash	152	(44)
Cash, cash equivalents and restricted cash - beginning of period	459	607
Cash, cash equivalents and restricted cash - end of period	$ 611	$ 563

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2018
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 the packaging segments and the variability of contract sales in the company’s aerospace segment. These unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and the notes thereto included in the company’s Current Report on Form 8-K filed on March 6, 2018, pursuant to the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2017 (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 sales 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 year amounts have been reclassified in order to conform to the current year presentation.

Accounting Pronouncements

Accounting Pronouncements	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements
Accounting Pronouncements	2. Accounting Pronouncements Recently Adopted Accounting Standards Revenue from Contracts with Customers On January 1, 2018, Ball adopted Accounting Standard Codification 606, “Revenue from Contracts with Customers,” and all related amendments (collectively, the new revenue standard) applying the modified retrospective method to all contracts that were not completed as of January 1, 2018. The cumulative effect of initially applying the new revenue standard was recognized as an adjustment to the company’s retained earnings balance as of January 1, 2018. Comparative periods have not been restated and continue to be reported under the accounting standards in effect for those periods. The cumulative effect of the changes made to the consolidated January 1, 2018, balance sheet for the adoption of the new revenue standard is as follows: ($ in millions) Balance at December 31, 2017 Adjustments Due to Adoption Balance at January 1, 2018 Assets Receivables, net $ 1,634 $ 307 $ 1,941 Inventories, net 1,526 (241) 1,285 Other current assets 150 (4) 146 Liabilities Other current liabilities 540 17 557 Deferred taxes 695 7 702 Shareholders' equity Retained earnings 4,987 37 5,024 Accumulated other comprehensive earnings (loss) (656) 1 (655) In accordance with the disclosure requirements of the new revenue standard, the impact of adoption on our consolidated statement of earnings and balance sheet was as follows: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 ($ in millions, except per share amounts) As Reported Balances Without Adoption Effect of Change Higher (Lower) As Reported Balances Without Adoption Effect of Change Higher (Lower) Net sales $ 2,946 $ 2,985 $ (39) $ 8,832 $ 8,880 $ (48) Cost of sales (excluding depreciation and amortization) (2,362) (2,393) 31 (7,083) (7,121) 38 Earnings before interest and taxes 268 276 (8) 737 747 (10) Tax (provision) benefit (140) (143) 3 (220) (222) 2 Net earnings attributable to Ball Corporation 59 64 (5) 303 311 (8) Basic earnings per share 0.17 0.19 (0.02) 0.87 0.90 (0.03) Diluted earnings per share 0.17 0.18 (0.01) 0.86 0.88 (0.02) September 30, 2018 ($ in millions) As Reported Balances Without Adoption Effect of Change Assets Receivables, net $ 1,872 $ 1,622 $ 250 Inventories, net 1,243 1,444 (201) Other current assets 147 153 (6) Liabilities Other current liabilities 450 442 8 Deferred taxes 672 667 5 Shareholders' equity Retained earnings 5,224 5,195 29 Accumulated other comprehensive earnings (loss) (800) (801) 1 The following summarizes the significant changes to the company’s unaudited condensed consolidated statement of earnings and consolidated balance sheet as a result of the new revenue standard adopted on January 1, 2018, compared to if the company had continued to recognize sales under the previous revenue recognition guidance: · For the metal beverage packaging segments and, to a lesser extent, in our non-reportable segment that manufactures aerosol packaging, the new revenue standard accelerated the recognition of certain sales to be over time such that a portion of sales was recognized prior to shipment or delivery of goods. The accelerated recognition of sales also caused the company’s inventory to decrease with an offsetting increase to unbilled receivables to the extent the amounts had not yet been invoiced to the customer and right to payment was unconditional. · For the aerospace segment, sales from the majority of the company’s contracts continue to be recognized over time under the “cost-to-cost” method based on the continuous transfer of control to the customer, which is consistent with how sales were recognized under previous revenue recognition guidance. Therefore, no cumulative adjustment was required to be made upon adoption. · Ball recognized a contract liability when the customer’s payment, or Ball’s unconditional right to that consideration, preceded the company’s performance. Share-Based Compensation In May 2017, amendments to existing accounting guidance were issued to provide clarity and reduce diversity in practice, cost and complexity when applying stock compensation accounting guidance 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 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. The guidance was applied prospectively on January 1, 2018, and it did not have an impact on the company’s unaudited condensed consolidated financial statements. Pension and Postretirement Benefit Costs In March 2017, amendments to existing accounting guidance were issued to change the presentation of net periodic pension cost and net periodic postretirement benefit cost. Employers are required 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 cost and net periodic postretirement 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 was adopted by the company on January 1, 2018, and the capitalization of the service cost component was applied on a prospective basis. Curtailment and settlement losses are reported by the company in business consolidation and other activities. All other non-service components are immaterial and are presented in selling, general and administrative (SG&A) expenses beginning in 2018. These non-service costs were reported in both cost of sales and SG&A in prior periods; however, due to immateriality in all prior periods presented, no retrospective adjustments were considered necessary. Such costs were $4 million and $16 million for the three and nine months ended September 30, 2017, respectively, and $21 million for the full year 2017. Sales of Nonfinancial Assets In February 2017, amendments to existing accounting guidance were issued to clarify the scope 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 guidance for consolidation, including instances in which the business is considered to be in substance real estate. This guidance was applied on January 1, 2018, using a modified retrospective approach and did not have a material impact on the company’s unaudited condensed consolidated financial statements. Definition of a Business 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 the new guidance for revenue recognition. The guidance was applied prospectively for Ball on January 1, 2018, and did not have an impact on the company’s unaudited condensed consolidated financial statements. Statement of Cash Flows In November 2016, accounting guidance was issued requiring the statement of cash flows to reconcile the change in the total of cash, cash equivalents and restricted cash or restricted cash equivalents. This guidance was applied retrospectively on January 1, 2018, and the impact on the 2017 statement of cash flow was not material. The impact on the 2016 statement of cash flows was material due to approximately $2 billion of restricted cash held by the company at December 31, 2015, in an acquisition escrow account. In July 2016, the funds in the escrow account were used to pay a portion of the cash component of the acquisition price of Rexam. The impact on the statement of cash flows for the nine months ended September 30, 2017, was a $3 million reduction in cash flows from operating activities. 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, for cash flows with aspects of more than one class which are not separately identifiable, classification based on the predominant source for those cash flows This guidance was applied retrospectively on January 1, 2018, and did not have a material impact on the company’s unaudited condensed consolidated statement of cash flows. Intra-Entity Transfers In October 2016, amendments to existing accounting guidance were issued that 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 to an unrelated third party. The amendments also eliminate the exception for an intra-entity transfer of an asset other than inventory. This guidance was applied on a modified retrospective basis on January 1, 2018, and did not have a material impact on the company’s unaudited condensed consolidated financial statements. Financial Assets and Liabilities 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. Subsequent guidance was issued in February 2018 to clarify certain aspects of the guidance issued in January 2016. The guidance modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities have to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any related changes in fair value in net income unless the investments qualify for the new practicality exception. An exception applies 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 was applied on January 1, 2018, and did not have a material impact on the company’s unaudited condensed consolidated financial statements . New Accounting Guidance Derivatives and Hedging In October 2018, amendments to existing accounting guidance were issued to permit use of the overnight index swap (OIS) rate based on the secured overnight finance rate (SOFR) as a U.S. benchmark interest rate for hedge accounting purposes. This guidance is effective for Ball on January 1, 2019, and is not expected to have a material effect on the company’s consolidated financial statements. Cloud Computing Arrangements In August 2018, amendments to existing accounting guidance were issued to clarify the accounting for implementation costs for cloud computing arrangements. The amendments specify that existing guidance for capitalizing implementation costs incurred to develop or obtain internal-use software applies to capitalizing implementation costs incurred in a hosting arrangement that is a service contract. The guidance is effective for Ball on January 1, 2020, and the company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements. Fair Value Measurements and Pension and Postretirement Benefit Costs In August 2018, amendments to existing accounting guidance were issued to simplify financial statement disclosures related to defined benefit plans and fair value measurements. This guidance is effective for Ball on January 1, 2020, and is not expected to have a material effect on the company’s consolidated financial statements. Share Based Payments In June 2018, amendments to existing accounting guidance were issued to simplify share-based payment transactions for acquiring goods and services from nonemployees. The amendments specify that existing guidance for share-based payment transactions with employees applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that existing guidance does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of revenue contracts. The guidance is effective for Ball on January 1, 2019, and is not expected to have a material effect on the company’s consolidated financial statements. Stranded Tax Effects In February 2018, accounting guidance was issued to permit the reclassification from accumulated other comprehensive income to retained earnings of stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act signed into law in December 2017. The guidance is effective for Ball on January 1, 2019, and the company is currently assessing whether or not to early adopt the new guidance. Financial Assets In June 2016, amendments to existing guidance were issued 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 when 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. Lease Accounting 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, on 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. In July 2018, targeted improvements were issued to provide an additional optional transition method that would allow entities to apply the new leases standard upon adoption by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. This option is in addition to the existing modified retrospective transition method that requires entities to apply the new standard at the beginning of the earliest period presented in the financial statements. Ball is electing this additional transition approach and will apply the new standard as of January 1, 2019 rather than the earliest comparative period presented. Additionally, the amendments included a lessor-specific practical expedient, by underlying asset class, to not separate nonlease components from the associated lease components, similar to the practical expedient already made available by the standard to lessees. The lessor practical expedient is limited to circumstances in which the nonlease component or components otherwise would be accounted for under the new revenue guidance and both of the following are true: (1) the timing and pattern of transfer are the same for the nonlease component(s) and associated lease component and (2) the lease component, if accounted for separately, would be classified as an operating lease. Codification improvements were also were issued on a variety of topics within the new leases standard, which represent minor corrections or improvements and are not expected to have a significant impact on accounting practices. We have established a cross-functional implementation team, which includes representatives from all of our business segments. We are utilizing a bottoms-up approach to analyze the impact of the new standard by reviewing our current lease population, including completeness, to identify potential accounting, data and other operational changes that might be required under the new guidance. In addition, we are implementing the required changes to our business processes, systems and controls to support recognition and disclosure upon adoption. This includes enhancing processes and controls for identifying leases, centralizing the accounting for leases, and implementing a system to calculate the accounting impact for the lease standard. The guidance will be effective for Ball on January 1, 2019, and it is expected that a material amount of lease assets and liabilities will be recorded on our consolidated balance sheet.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2018
Business Segment Information
Business Segment Information	3. Business Segment Information Ball’s operations are organized and reviewed by management along its product lines and geographical areas and presented in the four 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 throughout those countries. Beverage packaging, South America : Consists of operations in Brazil, Argentina and Chile that manufacture and sell metal beverage containers throughout most of South America. Beverage packaging, Europe : Consists of operations in numerous countries in Europe, including Russia, that manufacture and sell metal beverage containers throughout most of Europe. 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. As presented in the table below, Other consists of non-reportable segments located in Africa, Middle East and Asia (beverage packaging, AMEA) and Asia Pacific (beverage packaging, Asia) that manufacture and sell metal beverage containers; a non-reportable segment that manufactures and sells aerosol containers, extruded aluminum aerosol containers and aluminum slugs (aerosol packaging); 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. On July 31, 2018, Ball sold its U.S. steel food and steel aerosol packaging business and formed a joint venture, Ball Metalpack. After the sale, Ball’s 49 percent ownership of Ball Metalpack's financial results is reported in equity in results of affiliates, net of tax, within Ball's consolidated statements of earnings. The financial results of Ball’s remaining non-reportable aerosol packaging segment are reported within Other in the table below. As a result of the sale of the U.S. steel food and steel aerosol business, the results of operations for 2018 and prior year comparative periods of the entire former food and aerosol packaging reportable segment are included as a non-reportable segment within Other in the segment table below. Summary of Business by Segment Three Months Ended September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Net sales Beverage packaging, North and Central America $ 1,237 $ 1,080 $ 3,513 $ 3,180 Beverage packaging, South America 391 425 1,229 1,145 Beverage packaging, Europe 683 651 1,995 1,824 Aerospace 283 241 837 734 Reportable segment sales 2,594 2,397 7,574 6,883 Other 352 511 1,258 1,353 Net sales $ 2,946 $ 2,908 $ 8,832 $ 8,236 Comparable operating earnings Beverage packaging, North and Central America $ 153 $ 121 $ 423 $ 400 Beverage packaging, South America 71 78 235 205 Beverage packaging, Europe 84 74 219 184 Aerospace 26 23 75 70 Reportable segment comparable operating earnings 334 296 952 859 Reconciling items Other (a) 6 17 40 11 Business consolidation and other activities (32) (157) (131) (253) Amortization of acquired Rexam intangibles (40) (37) (124) (120) Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation — 5 — (34) Earnings before interest and taxes 268 124 737 463 Interest expense (76) (74) (226) (216) Debt refinancing and other costs — — (1) (1) Total interest expense (76) (74) (227) (217) Earnings before taxes $ 192 $ 50 $ 510 $ 246 (a) Includes undistributed corporate expenses, net, of $21 million and $29 million for the three months ended September 30, 2018 and 2017, respectively, and $64 million and $106 million for the nine months ended September 30, 2018 and 2017, respectively. 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	9 Months Ended
	Sep. 30, 2018
Acquisitions and Dispositions
Acquisitions and Dispositions	4. Acquisitions and Dispositions On July 31, 2018, Ball sold its U.S. steel food and steel aerosol packaging business and formed a joint venture, Ball Metalpack. In exchange for the sale of this business, Ball received approximately $600 million of cash proceeds, subject to customary closing adjustments, as well as a 49 percent ownership interest in Ball Metalpack, which is reported in other assets as an equity method investment on Ball’s unaudited condensed consolidated balance sheets. This transaction enhances our ability to return additional value to shareholders via share repurchases. Ball recorded a loss of $38 million upon completion of the sale. This loss was recorded in business consolidation and other activities in the unaudited condensed consolidated statement of earnings. The assets sold included nine plants that manufacture and sell steel food and steel aerosol containers. The manufacturing plants were located in Canton and Columbus, Ohio; Milwaukee and Deforest, Wisconsin; Chestnut Hill, Tennessee; Horsham, Pennsylvania; Springdale, Arkansas; and Oakdale, California. In connection with the sale of the U.S. steel food and steel aerosol business, the company entered into an agreement to supply metal to Ball Metalpack through December 31, 2018, and agreements to provide transition and other services to Ball Metalpack. During the three and nine months ended September 30, 2018, Ball Metalpack purchased $62 million of metal from Ball, which was equivalent to Ball’s cost; as such, the arrangement generated no profit for Ball, and Ball’s metal sales to Ball Metalpack are netted against the cost of Ball’s related metal purchases in the company’s unaudited condensed consolidated statements of earnings. At September 30, 2018, Ball is owed $78 million related to the above agreements, which is reported in receivables, net on Ball’s unaudited condensed consolidated balance sheets.

Revenue from Contracts With Cus

Revenue from Contracts With Customers	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	5. Revenue from Contracts with Customers Disaggregation of Sales The company disaggregates net sales by reportable segments as disclosed in Note 3, and based on the timing of transfer of control for goods and services as explained below. The transfer of control for goods and services may occur at a point in time or over time; in other words, sales may be recognized over the course of the underlying contract, or they may occur at a single point in time based upon the transfer of control. This distinction is discussed in further detail below. The company determined that disaggregating sales into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of sales and cash flows are affected by economic factors. As disclosed in Note 3, the company’s business consists of four reportable segments, which encompass disaggregated product lines and geographical areas: (1) beverage packaging, North and Central America; (2) beverage packaging, South America; (3) beverage packaging, Europe; and (4) aerospace. The following table disaggregates the company’s net sales based on the timing of transfer of control: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 ($ in millions) Point in Time Over Time Total Point in Time Over Time Total Total net sales $ 665 $ 2,281 $ 2,946 $ 2,082 $ 6,750 $ 8,832 Contract Balances The company enters into contracts to sell beverage packaging, aerosol packaging, and aerospace products. The payment terms and conditions in customer contracts vary. Those customers that prepay are represented by the contract liabilities below until the performance obligations are satisfied. Contract assets would exist when sales have been recorded (i.e., control of the goods or services has been transferred to the customer) but customer payment is contingent on a future event beyond the passage of time (i.e., satisfaction of additional performance obligations). The company did not have any contract assets at either September 30, 2018, or December 31, 2017. Unbilled receivables, which are not classified as contract assets, represent arrangements in which sales have been recorded prior to billing and right to payment is unconditional. The opening and closing balances of the company’s current and noncurrent contract liabilities are as follows: Contracts Contract Liabilities Liabilities ($ in millions) (Current) (Noncurrent) Balance at December 31, 2017 $ 45 $ — Increase 22 8 Balance at September 30, 2018 $ 67 $ 8 During the nine months ended September 30, 2018, contract liabilities increased by $30 million, which is net of cash received of $176 million and amounts recognized as sales of $146 million, all of which related to current contract liabilities. The amount of sales recognized in the nine months ended September 30, 2018, that were included in the opening contract liabilities balances was $45 million, all of which related to current contract liabilities. The difference between the opening and closing balances of the company’s contract liabilities primarily results from the timing difference between the company’s performance and the customer’s payment. Current contract liabilities are classified within other current liabilities on the unaudited condensed consolidated balance sheet and noncurrent contract liabilities are classified within other liabilities. The company also recognized sales of $3 million and $8 million in the three and nine month periods ended September 30, 2018, respectively, from performance obligations satisfied (or partially satisfied) in prior periods. These sales amounts are the result of changes in the transaction price of the company’s contracts with customers. Contract Costs The company has determined there are no material costs that meet the capitalization criteria for costs to obtain or fulfill a contract. Practical Expedients For the company’s contracts that have an original duration of one year or less, the company elected the practical expedient applicable to such contracts and has not disclosed the transaction price for the future performance obligations as of the end of each reporting period or when the company expects to recognize sales. The company has elected the sales tax practical expedient; therefore, sales and other taxes assessed by a governmental authority that are collected concurrent with revenue-producing activities are excluded from the transaction price. For shipping and handling activities performed after a customer obtains control of the goods, the company has elected to account for these costs as activities to fulfill the promise to transfer the goods; therefore, these activities are not assessed as separate performance obligations. The company has also elected the significant financing component practical expedient which allows the company to not assess whether the contract has a significant financing component if, at contract inception, the expectation is that the contract duration is less than one year. Beverage and Aerosol Packaging Performance Obligations At contract inception, the company assesses the goods and services promised in its contracts with customers and identifies a performance obligation for each promise to transfer goods or services to the customer. The performance obligation may be represented by a good or service (or a series of goods or services) that is distinct, or by a series of distinct goods or services that are substantially the same and have the same pattern of transfer to the customer. In each instance, the company treats the promise to transfer the customer goods or services as a single performance obligation. To identify its performance obligations, the company considers all of the goods or services promised in the contract, regardless of whether they are explicitly stated or are implied by customary business practices. The company has determined that the following distinct goods and services represent separate performance obligations: · Manufacture of beverage cans, which may be generic or unique; · Manufacture of aerosol containers, which may be generic or unique; and · Manufacture of beverage and aerosol lids and ends, which may be generic or unique. Performance obligations for products with no alternative use are recognized over time, when the company has manufactured a unique item and has an enforceable right to payment. Conversely, generic products with alternative use are recognized at a point in time. Contracts may be short-term or long-term, with varying payment terms. Ball’s payment terms vary by the type and location of the customer and the products or services offered. Customers pay in accordance with negotiated terms, which are typically triggered upon ownership transfer. All payment terms are less than one year. For these contracts, the transaction price is determined upon establishment of the contract that contains the final terms of the sale, including the description, quantity, and price of each product or service purchased. Transaction Price Allocated to Remaining Performance Obligations In the context of the revenue recognition standard, enforceable contracts are those that have an enforceable right to payment, which Ball typically has once a binding forecast or purchase order (or similar evidence) is in place and Ball produces under the contract. Within Ball’s packaging segments, enforceable contracts as defined all have a duration of less than one year. Contracts that have an original duration of less than one year are excluded from the requirement to disclose remaining performance obligations based on the company’s election to use the practical expedient. The nature of the remaining performance obligations within these contracts, as well as the nature of the variability and how it will be resolved, are described in the section below. Significant Judgments Timing of Recognition Within the beverage and aerosol operations, performance obligations are recognized both over time and at a point in time. The determination that sales should be recognized at a point in time most often results from the existence of an alternative use for the product. Cans and ends that are not customized prior to delivery are considered to have alternative use and sales are recognized at the point of control transfer. Determining when control transfer occurs requires management to make judgments that affect the timing of when sales are recognized. The new revenue accounting standard provides five indicators that a customer has obtained control of an asset: 1) present right to payment; 2) transfer of legal title; 3) physical possession; 4) significant risks and rewards of ownership; and 5) customer acceptance. The company considers control to have transferred for these products upon shipment or delivery, depending on the legal terms of the contract, because the company has a present right to payment at that time, the customer has legal title to the asset, the company has transferred physical possession of the asset or the customer has significant risks and rewards of ownership of the asset. The company determines that control transfers to a customer as described above and provides a faithful depiction of the transfer of goods. For performance obligations related to products that are specialized with no alternative use (e.g., specialized sizes or customer-specific materials, or labeled with customer-specific artwork), the company transfers control and records sales over time. The recognition of sales occurs over time as goods are manufactured and Ball has an enforceable right to payment for those goods, which is an output method. Determining a measure of progress requires management to make judgments that impact the timing of when sales are recognized. The company has determined the above provides a faithful depiction of the transfer of goods to the customer. The number of units manufactured that have an enforceable right to payment is the best measure of depicting the company’s performance as control is transferred. The customer obtains value as each unit is produced against a binding contract. The enforceable right to payment may be explicit or implied in the contract. If the enforceable right to payment is not explicit in the contract, Ball must consider if there is an implied right based on customer relationships or previous business practices and applicable law. Typically, Ball has an enforceable right to payment of costs plus a reasonable margin once a binding forecast or purchase order (or similar evidence) is in place and Ball produces under the contract. Determining the Transaction Price including Variable Consideration In making its determination of stand-alone selling price, Ball maximizes its use of observable inputs. Stand-alone selling price is then used to allocate total consideration proportionally to the various performance obligations within a contract. To estimate variable consideration, we may apply both the “expected value” method and “most likely amount” method based on the form of variable consideration, according to which method would provide the best prediction of consideration to be received from our customers. The expected value method involves a probability-weighted determination of the expected amount, whereas the most likely amount method identifies the single most likely outcome in a range of possible amounts. In certain cases, both methods may be used within a single contract if multiple forms of variable consideration exist. However, once a method has been applied to one form of variable consideration, it is applied consistently throughout the contract term. The primary types of variable consideration present in the company’s contracts are per-unit price changes, volume discounts and rebates. Once variable consideration has been estimated, it will be constrained if a significant reversal of the cumulative amounts of sales is probable in the context of the contract. Aerospace Performance Obligations At contract inception, the company assesses the goods and services promised in its contracts with customers and identifies a performance obligation for each promise to transfer goods or services to the customer. The performance obligation may be represented by a good or service (or a series of goods or services) that is distinct, or by a series of distinct goods or services that are substantially the same and have the same pattern of transfer to the customer. In each of these scenarios, the company treats the promise to transfer the customer goods or services as a single performance obligation. To identify its performance obligations, the company considers all of the goods or services promised in the contract, regardless of whether they are explicitly stated or are implied by customary business practices. The company has determined that the following distinct goods and services represent separate performance obligations: · Manufacture and delivery of distinct spacecraft and/or hardware components; · Research reports, for contracts under which such reports are the sole or primary deliverables; · Design, add-on, or special studies for contracts under which such studies have stand-alone value or for which a material right exists due to discounted pricing; and · Warranty and performance guarantees beyond standard repair/replacement. Performance obligations with no alternative use are recognized over time, when the company has an enforceable right to payment for efforts completed to-date. Because of sales contract payment schedules, limitations on funding, and contract terms, our sales and accounts receivable generally include amounts that have been earned but not yet billed. Our payment terms vary by the type and location of our customer and the products or services offered. All payment terms are less than one year. Contracts are often modified to account for changes in contract specifications and requirements. We consider contract modifications to exist when the modification either creates new or revised enforceable rights and obligations. Most of our contract modifications are for goods or services that are not distinct from the existing contract due to the significant integration service provided in the context of the contract, and such contract modifications are accounted for as if they were part of that existing contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to sales (either as an increase or reduction of sales) on a cumulative catch-up basis. Transaction Price Allocated to Remaining Performance Obligations The table below discloses: (1) the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period for contracts with an original duration of greater than one year, and (2) when the company expects to record sales on these multi-year contracts. ($ in millions) Next Twelve Months Thereafter Total Sales expected to be recognized on multi-year contracts in place as of September 30, 2018 $ 849 $ 866 $ 1,715 The contracts with an original duration of less than one year, which are excluded from the table above based on the company’s election of the practical expedient, are primarily related to contracts where control will be fully transferred to the customers in less than one year. The nature of the remaining performance obligations within these contracts, as well as the nature of the variability and how it will be resolved, are described in the section below. Significant Judgments Timing of Recognition Within the aerospace segment, performance obligations are recognized over time. Aerospace contracts involve specialized and unique products that are tailored to the specific needs of the customer, such as a spacecraft or other hardware conforming to the specifications required by the customer, and as such, no alternative use exists. When there is an enforceable right to payment at cost plus reasonable margin for performance completed to date, the sales are recorded over time as the goods are manufactured or services are performed. Determining a measure of progress requires management to make judgments that affect the timing of recording sales. Sales under long-term contracts in the aerospace segment are primarily recognized using percentage-of-completion under the cost-to-cost method of accounting, which is an input method. Under this method, the extent of progress towards completion is measured based on the ratio of costs incurred to date versus the total estimated costs upon completion of the performance obligation. The cost-to-cost method best depicts the transfer of assets to the customer as we incur costs on our contracts. The two primary types of long-term sales contracts utilized are cost-type contracts, which are agreements to perform for cost plus an agreed-upon profit component, and fixed price sales contracts, which are completed for a fixed price. Cost-type sales contracts can have different types of fee arrangements, including fixed-fee, cost, milestone and performance incentive fees, award fees or a combination thereof. At the inception of contract performance, we estimate sales associated with base, incentive and other fees exclusive of any constraint. In other words, we estimate sales to the extent that it is not probable a significant reversal would occur over the period of contract performance. The company has determined that the above provides a faithful depiction of the transfer of goods to the customer and is the best measure of depicting the company’s performance as control is transferred to customers. Determining the Transaction Price including Variable Consideration Due to the unique and customized nature of deliverables within aerospace contracts, a readily observable selling price for a similar good is not typically available; therefore, in making its determination of stand-alone selling price, the company generally applies the “expected cost plus a margin” approach (whereby the transaction price is allocated based on the relative amount of costs plus an appropriate margin). Use of the expected cost plus a margin approach requires Ball to determine the expected costs for each performance obligation, as well as an appropriate margin (i.e., cost to cost percentage of completion). The calculation is made at contract inception to determine the allocation of consideration. Uncertainty as to the total amount that will be paid by the customer (such as the exact amount of costs that will be incurred and fees that will be earned by Ball Aerospace to satisfy the contractual requirements) gives rise to variable consideration. To estimate variable consideration, we typically apply the “most likely amount” method or the “expected value” method depending on the nature of the variable consideration. The most likely amount method identifies the single most likely outcome in a range of possible amounts, while the expected value method involves a probability-weighted determination of the expected amount. The most likely amount method is used primarily when the possible outcomes are binary (i.e., either the cost/fee will be incurred or it will not). In certain cases, both methods may be used within a single contract if multiple forms of variable consideration exist. However, once a method has been applied to one form of variable consideration, it is applied consistently throughout the contract term. The primary types of variable consideration present in the company’s contracts are cost reimbursements, performance award fees, incremental funding and finalization of government rates. These types of arrangements are most commonly (though not exclusively) estimated based on the “most likely” method. Once variable consideration has been estimated, it will be constrained if a significant reversal of the cumulative amount of sales is probable in the context of the contract.

Business Consolidation and Othe

Business Consolidation and Other Activities	9 Months Ended
	Sep. 30, 2018
Business Consolidation and Other Activities
Business Consolidation and Other Activities	6. 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 September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Beverage packaging, North and Central America $ (14) $ (34) $ (16) $ (45) Beverage packaging, South America 12 (4) 11 (4) Beverage packaging, Europe (3) (62) (17) (69) Other (27) (57) (109) (135) $ (32) $ (157) $ (131) $ (253) 2018 Beverage Packaging, North and Central America During the three months ended September 30, 2018, the company recorded $9 million of expense for employee severance and benefits, facility shutdown costs, asset impairment, accelerated depreciation and other costs in connection with the previously announced closures of its beverage can manufacturing facilities in Chatsworth, California, and Longview, Texas, and its beverage end manufacturing facility in Birmingham, Alabama. Expense for the nine months ended September 30, 2018, included the same costs and was partially offset by the reversal of $5 million of expense for revised estimates of charges recorded in prior periods. The Birmingham plant ceased production during the second quarter of 2018, and the Chatsworth and Longview plants ceased production during the third quarter of 2018. During the nine months ended September 30, 2018, the company recorded charges of $2 million related to the closure of its Reidsville, North Carolina, plant, which ceased production in 2017. Other income and charges in the three and nine months ended September 30, 2018, included $5 million of expense and $10 million of expense, respectively, for individually insignificant activities. Beverage Packaging, South America During the third quarter of 2018, the company recorded a $16 million gain related to indirect tax contingencies in Brazil as these amounts have been realized. Our Brazilian subsidiaries filed lawsuits in 2014 and 2015 to challenge the Brazilian tax authorities regarding the computation of certain indirect taxes, claiming amounts were overpaid to the tax authorities as a result of a tax on a tax being charged. As these cases are resolved and the amounts claimed become realizable, the company will record gains, which may result in material reimbursements to the company and cannot be estimated at this time. Charges in the three and nine months ended September 30, 2018, included $4 million and $5 million of expense, respectively, for individually insignificant activities. Beverage Packaging, Europe During the three and nine months ended September 30, 2018, the company recorded charges of $2 million and $15 million, respectively, for employee benefits, severance, facility shutdown costs and other costs in connection with the closure of its Recklinghausen, Germany, plant which ceased production during the third quarter of 2017. The majority of the closure costs are expected to be paid by the end of 2018. Other charges in the three and nine months ended September 30, 2018, included $1 million and $2 million of expense, respectively, for individually insignificant activities. Other During the three months ended September 30, 2018, the company recorded the following amounts: · A settlement loss of $14 million primarily related to the purchase of non-participating group annuity contracts to settle a portion of the projected pension benefit obligations in certain Ball U.S. defined benefit pension plans which triggered settlement accounting. The settlement loss primarily represented a pro rata portion of the aggregate unamortized actuarial loss in these pension plans. · A $3 million reduction to the estimated loss recorded as of June 30, 2018, related to the sale of the U.S. steel food and steel aerosol packaging business. · Expense of $4 million for long-term incentive and other compensation arrangements associated with the Rexam acquisition. · Expense of $6 million for professional services and other costs associated with the sale of the U.S. steel food and steel aerosol packaging business. · Expense of $6 million for individually insignificant activities. During the nine months ended September 30, 2018, the company recorded the following amounts: · A settlement loss of $14 million primarily related to the purchase of non-participating group annuity contracts to settle a portion of the projected pension benefit obligations in certain Ball U.S. defined benefit pension plans which triggered settlement accounting. The settlement loss primarily represented a pro rata portion of the aggregate unamortized actuarial loss in these pension plans. · A $38 million loss on the sale of the U.S. steel food and steel aerosol packaging business. · Expense of $19 million for long-term incentive and other compensation arrangements associated with the Rexam acquisition. · Expense of $4 million for employee severance and benefits, accelerated depreciation and inventory impairment related to manufacturing cost rationalization in the former food and aerosol packaging segment. · Expense of $10 million for professional services and other costs associated with the sale of the U.S. steel food and steel aerosol packaging business. · Expense of $24 million for individually insignificant activities. 2017 Beverage Packaging, North and Central America During the third quarter of 2017, the company recorded charges of $29 million for employee severance and benefits and $4 million for facility shutdown costs, asset impairment, accelerated depreciation and other costs in connection with the previously announced closures of its beverage can manufacturing facilities in Chatsworth, California, and Longview, Texas, and its beverage end manufacturing facility in Birmingham, Alabama. During the nine months ended September 30, 2017, the company recorded charges of $7 million for employee severance and benefits, facility shutdown costs, asset impairment, accelerated depreciation and other costs related to the closure of its Reidsville, North Carolina, plant. Other charges in the three and nine months ended September 30, 2017, included $1 million and $5 million, respectively, of individually insignificant activities. Beverage Packaging, South America Other charges in both the three and nine months ended September 30, 2017, included expense of $4 million for individually insignificant activities. Beverage Packaging, Europe During the third quarter of 2017, the company recorded charges of $55 million for employee severance and benefits and $7 million for facility shutdown costs, asset impairment, accelerated depreciation and other costs in connection with the closure of its Recklinghausen, Germany, plant which ceased production during the third quarter of 2017. During the nine months ended September 30, 2017, the company recorded charges of $2 million for professional services and other costs associated with the 2016 Rexam acquisition. Other charges in the nine months ended September 30, 2017, included expense of $5 million, for individually insignificant activities. Other During the three months ended September 30, 2017, the company recorded the following amounts: · A settlement loss of $41 million primarily related to the purchase of non-participating group annuity contracts to settle a portion of the projected pension benefit obligations in certain Ball U.S. defined benefit pension plans which triggered settlement accounting. The settlement loss primarily represented a pro rata portion of the aggregate unamortized actuarial loss in these pension plans. · Expense of $5 million for long-term incentive and other compensation arrangements associated with the Rexam acquisition. · Expense of $11 million for individually insignificant activities. During the nine months ended September 30, 2017, the company recorded the following amounts: · A settlement loss of $41 million primarily related to the purchase of non-participating group annuity contracts to settle a portion of the projected pension benefit obligations in certain Ball U.S. defined benefit pension plans which triggered settlement accounting. The settlement loss primarily represented a pro rata portion of the aggregate unamortized actuarial loss in these pension plans. · 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 $22 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 $12 million for professional services and other costs associated with the acquisition of Rexam. · Expense of $6 million for facility shutdown costs and accelerated depreciation for the closure of its food and aerosol packaging plant located in Weirton, West Virginia, which ceased production during the second quarter of 2017. · Gain of $15 million related to the sale of its food and aerosol packaging paint and general line can plant in Hubbard, Ohio during the first quarter of 2017. · Expense of $21 million for individually insignificant activities. The following is a summary by segment of restructuring liabilities recorded in connection with business consolidation activities, which are included in other current liabilities in the company’s unaudited condensed consolidated balance sheets: ($ in millions) Beverage Packaging, North & Central America Beverage Packaging, Europe Other Total Balance at December 31, 2017 $ 26 $ 41 $ 1 $ 68 Charges (credits) in earnings (6) 14 2 10 Cash payments and other activity (9) (49) (1) (59) Balance at September 30, 2018 $ 11 $ 6 $ 2 $ 19

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	9 Months Ended
	Sep. 30, 2018
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	7. September 30, ($ in millions) 2018 2017 Beginning of period: Cash and cash equivalents $ 448 $ 597 Current restricted cash (included in other current assets) 10 9 Noncurrent restricted cash (included in other assets) 1 1 Total cash, cash equivalents and restricted cash $ 459 $ 607 End of period: Cash and cash equivalents $ 598 $ 556 Current restricted cash (included in other current assets) 13 6 Noncurrent restricted cash (included in other assets) — 1 Total cash, cash equivalents and restricted cash $ 611 $ 563 The company’s restricted cash is primarily related to receivables factoring programs and represents amounts collected from customers but not yet remitted to the banks as of the end of the reporting period. Noncash investing activities include the acquisition of property, plant and equipment (PP&E) for which payment has not been made. These noncash capital expenditures are excluded from the statement of cash flows. The PP&E acquired but not yet paid for amounted to $98 million at September 30, 2018, and $124 million at December 31, 2017. In connection with the sale of a business associated with the June 2016 acquisition of Rexam, the company provided indemnifications for uncertain tax positions associated with the business. During the nine months ended September 30, 2018, the company made payments of $45 million in relation to these liabilities and reported them within investing activities in the unaudited condensed consolidated statement of cash flows.

Receivables, Net

Receivables, Net	9 Months Ended
	Sep. 30, 2018
Receivables
Receivables	8. Receivables, Net September 30, December 31, ($ in millions) 2018 2017 Trade accounts receivable $ 1,052 $ 1,206 Unbilled receivables 359 147 Less allowance for doubtful accounts (11) (10) Net trade accounts receivable 1,400 1,343 Other receivables 472 291 $ 1,872 $ 1,634 Unbilled receivables at September 30, 2018, include the effect of adopting new revenue recognition accounting guidance as of January 1, 2018. Further details of the new guidance and its adoption are included in Notes 2 and 5. The company has entered into several regional committed and uncommitted accounts receivable factoring programs with various financial institutions for certain of its receivables. The programs are accounted for as true sales of the receivables, without recourse to Ball, and had combined limits of approximately $1.15 billion and $1.0 billion at September 30, 2018, and December 31, 2017, respectively. A total of $208 million and $439 million were available for sale under these programs as of September 30, 2018, and December 31, 2017, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2018
Inventories
Inventories	9. Inventories, Net September 30, December 31, ($ in millions) 2018 2017 Raw materials and supplies $ 694 $ 691 Work-in-process and finished goods 617 902 Less inventory reserves (68) (67) $ 1,243 $ 1,526 Finished goods inventory at September 30, 2018, includes the effect of adopting new revenue recognition accounting guidance as of January 1, 2018. Further details of the new guidance and its adoption are included in Notes 2 and 5.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment
Property, Plant and Equipment	10. Property, Plant and Equipment, Net September 30, December 31, ($ in millions) 2018 2017 Land $ 171 $ 172 Buildings 1,324 1,390 Machinery and equipment 5,120 5,282 Construction-in-progress 567 542 7,182 7,386 Accumulated depreciation (2,674) (2,776) $ 4,508 $ 4,610 Property, plant and equipment are stated at historical or acquired cost. Depreciation expense amounted to $121 million and $375 million for the three and nine months ended September 30, 2018, respectively, and $113 million and $373 million for the comparable periods in 2017, respectively. During the first nine months of 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 $19 million, all of which related to the last six months of 2016.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets
Goodwill	11. Goodwill ($ in millions) Beverage Beverage Beverage Aerospace Other Total Balance at December 31, 2017 $ 1,275 $ 1,299 $ 1,531 $ 40 $ 788 $ 4,933 Business dispositions — — — — (354) (354) Effects of currency exchange — — (75) — (7) (82) Balance at September 30, 2018 $ 1,275 $ 1,299 $ 1,456 $ 40 $ 427 $ 4,497 The company’s annual goodwill impairment test completed in the fourth quarter of 2017 indicated the fair value of the beverage packaging, Asia (Beverage Asia), reporting unit exceeded its carrying amount by approximately 24 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, which is included in Other in the above table. 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 September 30, 2018.

Intangible Assets ,net

Intangible Assets ,net	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets
Intangible Assets, net	12. Intangible Assets, Net September 30, December 31, ($ in millions) 2018 2017 Acquired Rexam intangibles (net of accumulated amortization of $362 million at September 30, 2018, and $246 million at December 31, 2017) $ 2,129 $ 2,303 Capitalized software (net of accumulated amortization of $142 million at September 30, 2018, and $129 million at December 31, 2017) 81 84 Other intangibles (net of accumulated amortization of $135 million at September 30, 2018, and $163 million at December 31, 2017) 37 75 $ 2,247 $ 2,462 Total amortization expense of intangible assets amounted to $50 million and $154 million for the three and nine months ended September 30, 2018, respectively, and $49 million and $166 million for the comparable periods in 2017, respectively. During the first nine months of 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 $15 million, all of which related to the last six months of 2016.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2018
Other Assets..
Other Assets.	13. Other Assets September 30, December 31, ($ in millions) 2018 2017 Long-term deferred tax assets $ 202 $ 325 Long-term pension assets 508 504 Investments in affiliates 314 274 Company and trust-owned life insurance 176 160 Other 158 143 $ 1,358 $ 1,406

Debt and Interest Costs

Debt and Interest Costs	9 Months Ended
	Sep. 30, 2018
Debt and Interest Costs
Debt and Interest Costs	14. Debt and Interest Costs Long-term debt consisted of the following: September 30, December 31, ($ in millions) 2018 2017 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 812 840 5.00% due March 2022 750 750 4.875% due March 2026 750 — 3.50%, euro denominated, due December 2020 464 480 Senior Credit Facilities, due March 2021 (at variable rates) Term A loan, due June 2021 798 1,313 Multi-currency, U.S. dollar revolver, due March 2021 — 285 Other (including debt issuance costs) (43) (37) 6,531 6,631 Less: Current portion of long-term debt (8) (113) $ 6,523 $ 6,518 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 September 30, 2018, taking into account outstanding letters of credit, approximately $1.47 billion was available under existing long-term, revolving credit facilities. In addition to these facilities, the company had approximately $1 billion of short-term uncommitted credit facilities available at September 30, 2018, of which $142 million was outstanding and due on demand. At December 31, 2017, the company had $340 million outstanding under short-term uncommitted credit facilities. In March 2018, Ball issued $750 million of 4.875 percent senior notes and used the proceeds to repay $315 million of its Term A loan and outstanding multi-currency revolver and short-term credit facility borrowings. The fair value of long-term debt was estimated to be $6.7 billion at September 30, 2018, and $7.0 billion at December 31, 2017. 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 $28 million at September 30, 2018, and $33 million at December 31, 2017. 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 coterminous with the terms of the respective note indentures and would require performance upon certain events of default referred to in the respective guarantees. See Note 21 for further details about the company’s debt guarantees and Note 22 for the company’s required unaudited condensed consolidating financial information, which segregate guarantor subsidiaries and non-guarantor subsidiaries as defined in our 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 leverage ratio (as defined) of no greater than 4.25 times at September 30, 2018. The company was in compliance with all loan agreements and debt covenants at September 30, 2018, and December 31, 2017, and has met all debt payment obligations.

Taxes on Income

Taxes on Income	9 Months Ended
	Sep. 30, 2018
Taxes on Income
Taxes on Income	15. Taxes on Income The company’s effective tax rate for the three and nine months ended September 30, 2018, was significantly impacted by the sale of the U.S. steel food and steel aerosol packaging business. The effective tax rate for these periods was increased by 37.7 percentage points and 14.2 percentage points, respectively, as a result of the write off of goodwill for which no tax deduction was available. On December 22, 2017, the U.S. Tax Cuts and Jobs Act (the Act) was signed into law. In the fourth quarter of 2017, the company recorded tax expense of $83 million for the estimated impact of the mandatory deemed repatriation of its foreign earnings and revaluation of its U.S. deferred tax assets and liabilities. The company’s review of the implications of the Act will be ongoing throughout 2018, and as such, adjustments to any of the previously recorded provisional estimates of the Act’s impact may be required. These provisional estimates recorded are as follows: · Reduction of U.S. federal corporate tax rate: The company recorded a provisional increase to tax expense of $52 million in 2017 for the estimated impact of revaluing its net deferred tax asset position in the U.S. at the new 21 percent corporate tax rate. While this remains a reasonable estimate, it may be impacted by other analyses related to the Act, including the calculation of the transition tax; · Transition tax: The company recorded a provisional increase to tax expense of $31 million in 2017 to reflect the impact of the tax on accumulated untaxed earnings and profits (E&P) of certain foreign affiliates. To determine the amount of the transition tax, the amount of the post-1986 E&P and the amount of non-U.S. income taxes paid on such earnings must be calculated for all relevant foreign affiliates. While this estimated impact is reasonable, additional information is being gathered and analyzed in order to more precisely calculate the final impact of the transition tax; · Valuation allowances: The company must assess the impact of the various aspects of the Act on its valuation allowance analyses, including the transition tax. As the company has recorded provisional estimates in 2017 with respect to certain aspects of the Act, any corresponding impacts from changes in valuation allowances are also provisional estimates; · Cost recovery: The company made a provisional estimate in 2017 of the impact on its current tax expense and deferred tax liabilities associated with the new immediate expensing provisions for certain qualifying expenditures made after September 27, 2017. This estimate will be refined as the necessary computations are completed with respect to the full inventory of all qualifying 2017 expenditures; · Global intangible low-tax income (GILTI): The company has included an increase in its annual effective tax rate for the current year impact of the new tax on GILTI. Any subsequent adjustments to this amount will be reflected on a current basis when determined; and · Foreign derived intangible income (FDII): The company has included a decrease in its annual effective tax rate for the current year impact of the new federal income tax deduction with respect to FDII. Any subsequent adjustments to this amount will be reflected on a current basis when determined. Based on a detailed analysis of its global income and other tax attributes that was concluded in the second quarter of 2018, the company made an accounting policy election in that reporting period to treat taxes due for GILTI and the base erosion anti-abuse tax (BEAT) as a current-period expense as incurred. With the introduction of a modified territorial tax system in the Act, the company is continuing the review of its previously stated intent to indefinitely reinvest the undistributed earnings of certain of its foreign subsidiaries. As the company does not believe a reasonable estimate of the impact of the Act on its indefinite reinvestment assertion can currently be determined, no provisional estimate has been recorded as allowed by applicable accounting standards. The final determination will be made, and the impact, if any, will be recorded in the fourth quarter of 2018. Due to the timing of the enactment and the complexity involved in applying the provisions of the Act, the company made reasonable estimates of the various effects and recorded provisional amounts in its financial statements. As the company collects and prepares necessary data, and continues to interpret the Act based on any additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service, and other standard-setting bodies, adjustments may be required to the provisional amounts that could materially affect the company’s financial position and results of operations as well as its effective tax rate in the fourth quarter of 2018 when the final required adjustments, if any, are recorded.

Employee Benefit Obligations

Employee Benefit Obligations	9 Months Ended
	Sep. 30, 2018
Employee Benefit Obligations
Employee Benefit Obligations	16. Employee Benefit Obligations September 30, December 31, ($ in millions) 2018 2017 Underfunded defined benefit pension liabilities $ 885 $ 945 Less: Current portion (25) (27) Long-term defined benefit pension liabilities 860 918 Long-term retiree medical liabilities 191 196 Deferred compensation plans 293 275 Other 77 74 $ 1,421 $ 1,463 Components of net periodic benefit cost associated with the company’s defined benefit pension plans were: Three Months Ended September 30, 2018 2017 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 13 $ 3 $ 16 $ 13 $ 4 $ 17 Interest cost 25 18 43 29 22 51 Expected return on plan assets (27) (27) (54) (31) (26) (57) Amortization of prior service cost — — — 1 — 1 Recognized net actuarial loss 9 2 11 8 1 9 Curtailment and settlement losses including special termination benefits 14 (a) — 14 43 (a) — 43 Total net periodic benefit cost $ 34 $ (4) $ 30 $ 63 $ 1 $ 64 (a) Includes settlement losses related to the purchase of non-participating annuities, plant shutdown benefits and other settlements that occur in the normal course of business, which have been recorded in business consolidation and other activities. Nine Months Ended September 30, 2018 2017 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 40 $ 11 $ 51 $ 37 $ 12 $ 49 Interest cost 73 54 127 95 66 161 Expected return on plan assets (82) (81) (163) (97) (78) (175) Amortization of prior service cost 1 — 1 1 — 1 Recognized net actuarial loss 28 4 32 26 3 29 Curtailment and settlement losses including special termination benefits 14 (a) — 14 43 (a) — 43 Net periodic benefit cost for Ball sponsored plans 74 (12) 62 105 3 108 Net periodic benefit cost for multi-employer plans 1 — 1 2 — 2 Total net periodic benefit cost $ 75 $ (12) $ 63 $ 107 $ 3 $ 110 (a) Includes settlement losses related to the purchase of non-participating annuities, plant shutdown benefits and other settlements that occur in the normal course of business, which have been recorded in business consolidation and other activities. In September 2018 and August 2017, Ball completed the purchase of non-participating group annuity contracts that were transferred to an insurance company for the company’s U.S. pension benefit obligations totaling approximately $176 million and $224 million, respectively. The purchase of the annuity contracts triggered settlement accounting in each year. Regular lump sums paid in the normal course of plan operations are also included in the total settlement amounts. These transactions resulted in the recognition of settlement losses recorded in business consolidation and other activities of $14 million in 2018 and $41 million in 2017. The company’s pension obligations were remeasured during the third quarter of 2018 and 2017 for the impacted plans. Non-service pension income totaling $3 million for the nine months ended September 30, 2018, is included in selling, general, and administrative (SG&A) expenses. Non-service pension costs totaling $4 million and $16 million for the three and nine months ended September 30, 2017, respectively, are included in cost of sales and SG&A and, due to immateriality, were not retrospectively adjusted as required by the newly adopted accounting standard for pension and postretirement benefit costs as described in Note 2. Contributions to the company’s defined benefit pension plans were $53 million in the first nine months of 2018 compared to $201 million in the first nine months of 2017, and such contributions are expected to be in the range of $66 million for the full year of 2018. This estimate may change based on changes to the U.S. Pension Protection Act and actual plan asset performance, among other factors.

Shareholders_ Equity and Compre

Shareholders’ Equity and Comprehensive Earnings	9 Months Ended
	Sep. 30, 2018
Shareholders’ Equity and Comprehensive Earnings
Shareholders’ Equity and Comprehensive Earnings	17. Shareholders’ Equity and Comprehensive Earnings Under its ongoing share repurchase program, the company repurchased $439 million of its shares, net of issuances, during the nine months ended September 30, 2018, and an additional $89 million was repurchased during October 2018. Share repurchases, net of issuances, totaled $85 million for the first nine months of 2017. The company expects net share repurchases for the full year 2018 to exceed $700 million. In August 2017, in a privately negotiated transaction, Ball entered into an accelerated share repurchase agreement to buy $100 million of its common shares using cash on hand and available borrowings, and the company received 2.5 million shares. Accumulated Other Comprehensive Earnings (Loss) The activity related to accumulated other comprehensive earnings (loss) was as follows: ($ 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, 2017 $ (307) $ (362) $ 13 $ (656) Other comprehensive earnings (loss) before reclassifications (156) 24 35 (97) Amounts reclassified from accumulated other comprehensive earnings (loss) — 25 (72) (47) Balance at September 30, 2018 $ (463) $ (313) $ (24) $ (800) The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive earnings (loss): Three Months Ended September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ 2 $ — $ (2) $ (3) Commodity contracts recorded in cost of sales 19 12 47 34 Currency exchange contracts recorded in selling, general and administrative — 1 1 (2) Currency exchange contracts recorded in business consolidation and other activities — (3) — — Cross-currency swaps recorded in selling, general and administrative 7 (35) 37 (119) Cross-currency swaps recorded in interest expense 4 3 10 13 Total before tax effect 32 (22) 93 (77) Tax benefit (expense) on amounts reclassified into earnings (8) 15 (21) 12 Recognized gain (loss), net of tax $ 24 $ (7) $ 72 $ (65) Amortization of pension and other postretirement benefits: (a) Prior service income (expense) $ — $ (1) $ — $ (1) Actuarial gains (losses) (b) (15) (48) (34) (65) Total before tax effect (15) (49) (34) (66) Tax benefit (expense) on amounts reclassified into earnings 4 19 9 25 Recognized gain (loss), net of tax $ (11) $ (30) $ (25) $ (41) (a) The pension components are included in the computation of net periodic benefit cost disclosed in Note 16. (b) Includes curtailment and settlement losses. Refer to Note 16 for further details.

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	9 Months Ended
	Sep. 30, 2018
Earnings and Dividends Per Share
Earnings and Dividends Per Share	18. Earnings and Dividends Per Share Three Months Ended September 30, Nine Months Ended September 30, ($ in millions, except per share amounts; shares in thousands) 2018 2017 2018 2017 Net earnings attributable to Ball Corporation $ 59 $ 48 $ 303 $ 215 Basic weighted average common shares 342,982 350,327 347,113 350,481 Effect of dilutive securities 6,727 8,229 6,642 8,011 Weighted average shares applicable to diluted earnings per share 349,709 358,556 353,755 358,492 Per basic share $ 0.17 $ 0.14 $ 0.87 $ 0.61 Per diluted share $ 0.17 $ 0.13 $ 0.86 $ 0.60 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 4 million for both the three and nine months ended September 30, 2018. The options excluded totaled 3 million and 5 million for the three and nine months ended September 30, 2017, respectively. The company declared and paid dividends of $0.10 per share in each of the first three quarters of 2018. The company declared and paid dividends of $0.065 per share in the first quarter of 2017 and $0.10 per share in each of the second and third quarters of 2017.

Financial Instruments and Risk

Financial Instruments and Risk Management	9 Months Ended
	Sep. 30, 2018
Financial Instruments and Risk Management
Financial Instruments and Risk Management	19. 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 which 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, including 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 September 30, 2018, the company had aluminum contracts limiting its aluminum exposure with notional amounts of approximately $1.13 billion, of which $998 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 two years. Included in shareholders’ equity at September 30, 2018, within accumulated other comprehensive earnings (loss), is a net after-tax gain of $3 million associated with these contracts. A net after-tax gain of $4 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. 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. At September 30, 2018, the company had outstanding interest rate swap and option contracts with notional amounts of approximately $935 million paying fixed rates expiring within the next two years. 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 September 30, 2018, the company had outstanding exchange rate forward and option contracts with notional amounts totaling approximately $2.1 billion. Approximately $1 million of net after-tax gain related to these contracts is included in accumulated other comprehensive earnings at September 30, 2018, the majority of which is expected to be recognized in the unaudited condensed consolidated statement of earnings during the next 12 months. The contracts outstanding at September 30, 2018, 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 2016. Approximately $28 million of net after-tax loss related to this contract is included in accumulated other comprehensive earnings at September 30, 2018, of which the amount expected to be recognized during the next 12 months is dependent upon changes in currency exchange rates. The contract expires within the next three years. 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 through November 2019 and have a combined notional value of 2.6 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. Collateral Calls The company’s agreements with its financial counterparties require the posting of 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, if any, are shown within the investing section of the company’s consolidated statements of cash flows. As of September 30, 2018, and December 31, 2017, the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position was $8 million and $27 million, respectively, and no collateral was required to be posted. Fair Value Measurements The company has classified all applicable financial derivative assets and liabilities as Level 2 within the fair value hierarchy as of September 30, 2018, and December 31, 2017, and presented those values in the tables below. The company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. September 30, 2018 ($ in millions) Balance Sheet Location Derivatives Derivatives not Total Assets: Commodity contracts $ 18 $ 2 $ 20 Foreign currency contracts 1 18 19 Cross-currency and other contracts — 2 2 Total current derivative contracts Other current assets $ 19 $ 22 $ 41 Commodity contracts $ 1 $ — $ 1 Total noncurrent derivative contracts Other noncurrent assets $ 1 $ — $ 1 Liabilities: Commodity contracts $ 13 $ 5 $ 18 Foreign currency contracts — 4 4 Cross-currency and other contracts — 1 1 Total current derivative contracts Other current liabilities $ 13 $ 10 $ 23 Commodity contracts $ 1 $ — $ 1 Cross-currency and other contracts 86 — 86 Total noncurrent derivative contracts Other noncurrent liabilities $ 87 $ — $ 87 December 31, 2017 Derivatives Derivatives not Total Assets: Commodity contracts $ 46 $ 3 $ 49 Foreign currency contracts 5 10 15 Total current derivative contracts Other current assets $ 51 $ 13 $ 64 Commodity contracts $ 6 $ — $ 6 Total noncurrent derivative contracts Other noncurrent assets $ 6 $ — $ 6 Liabilities: Commodity contracts $ 4 $ 4 $ 8 Foreign currency contracts — 21 21 Cross-currency and other contracts — 2 2 Total current derivative contracts Other current liabilities $ 4 $ 27 $ 31 Cross-currency and other contracts $ 117 $ 3 $ 120 Total noncurrent derivative contracts Other noncurrent liabilities $ 117 $ 3 $ 120 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 a12-month LIBOR rate. Ball performs validations of its 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 September 30, 2018, has not identified any circumstances requiring the reported values of its financial instruments to 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 September 30, 2018 2017 ($ 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 $ 2 $ — $ — $ (1) Commodity contracts - manage exposure to supplier pricing Cost of sales 19 2 12 (2) Foreign currency contracts - manage general exposure with the business Selling, general and administrative — 16 1 (34) Foreign currency contracts - manage exposure for acquisition of Rexam Business consolidation and other activities — — (3) — Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative 7 — (35) — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 4 — 3 — Equity contracts Selling, general and administrative — 21 — (3) Total $ 32 $ 39 $ (22) $ (40) Nine Months Ended September 30, 2018 2017 ($ 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 $ (2) $ 1 $ (3) $ (3) Commodity contracts - manage exposure to supplier pricing Cost of sales 47 6 34 (5) Foreign currency contracts - manage general exposure with the business Selling, general and administrative 1 73 (2) (63) Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative 37 — (119) — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 10 — 13 — Equity contracts Selling, general and administrative — 14 — 8 Total $ 93 $ 94 $ (77) $ (63) The changes in accumulated other comprehensive earnings (loss) for effective derivatives were as follows: Three Months Ended September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Amounts reclassified into earnings: Commodity contracts $ (21) $ (12) $ (45) $ (31) Cross-currency swap contracts (11) 32 (47) 106 Currency exchange contracts — 2 (1) 2 Change in fair value of cash flow hedges: Commodity contracts (11) 14 1 43 Interest rate contracts — — — 1 Cross-currency swap contracts 13 (47) 45 (116) Currency exchange contracts 1 3 (2) 4 Foreign currency and tax impacts 6 (2) 12 18 $ (23) $ (10) $ (37) $ 27

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2018
Contingencies
Contingencies	20. 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 $31 million in the aggregate, and such amounts have been included in other current liabilities and other noncurrent liabilities at September 30, 2018. 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 clean-up 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 February 2018, Waste Management reported that total project costs through 2016 were approximately $142 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 clean-up cost of approximately $10 million. This additional clean-up 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. A site was selected to begin data review on over 30 industrial companies and government entities and at least two PRP groups have been discussing various allocation proposals. The USEPA issued the site Record of Decision (ROD) in December 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, retained a technical consultant to assist with their positions vis-à-vis larger PRPs, and further presentations were made to the site allocator during the fourth quarter of 2017 and the first quarter of 2018. 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 manufacture, 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, with discovery expected to continue through the fourth quarter of 2018. 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. 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 in 2006. The business operating from the site was sold to Albea in 2013 and in turn to 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) during 2018. 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 sales 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. During the first quarter of 2017, the Brazilian Supreme Court (the Court) ruled against the Brazilian tax authorities in a leading case related to the computation of certain indirect taxes. The Court ruled that the indirect tax base should not include a value-added tax known as “ICMS.” By removing the ICMS from the tax base, the Court effectively eliminated a “tax on tax.” The Court decision, in principle, affects all applicable judicial proceedings in progress. However, after publication of the decision in October 2017, the Brazilian tax authorities filed an appeal seeking clarification of certain matters, including the amount of ICMS to which taxpayers would be entitled in order to reduce their indirect tax base (i.e., the gross rate or net rate). The appeal also requested a modulation of the decision’s effects, which may limit its impact on taxpayers. Our Brazilian subsidiaries paid to the Brazilian tax authorities the gross amounts of certain indirect taxes (which included ICMS in their tax base) and filed lawsuits in 2014 and 2015 in order to challenge the legality of tax on tax amounts. Pursuant to these lawsuits, we have requested reimbursement of prior excess tax payments and entitlement to retain amounts not remitted. During the third quarter of 2018, the company learned of a further decision of the Court indicating that lawsuits filed prior to the trial resulting in its 2017 decision, such as those filed by the company, would likely be upheld. The company has also noted that other Brazilian companies, including customers of its Brazilian subsidiaries, that timely filed equivalent lawsuits, have recorded income based on the applicable ICMS amounts retained. Accordingly, we now consider the portions of the ICMS-related cash collected and not remitted by our subsidiaries to be realizable and in the third quarter of 2018 we recorded $16 million of prior year collections in business consolidation and other activities within our condensed consolidated statement of earnings. We also recorded $8 million of net sales in the third quarter 2018 for ICMS-related collections during the first six months of 2018. The company is in the process of seeking reimbursement for ICMS-related amounts previously paid to the Brazilian government, which may result in material reimbursements in respect of prior periods; however, such amounts cannot be estimated at this time. The company will record income for these reimbursements once the amounts are realized or realizable.

Indemnifications and Guarantees

Indemnifications and Guarantees	9 Months Ended
	Sep. 30, 2018
Indemnifications and Guarantees
Indemnifications and Guarantees	21. 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 provided 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 coterminous 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 required condensed consolidating financial information for the guarantor and non-guarantor subsidiaries is presented in Note 22. 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 under the Securities and Exchange Commission (SEC) regulations.

Subsidiary Guarantees of Debt

Subsidiary Guarantees of Debt	9 Months Ended
	Sep. 30, 2018
Subsidiary Guarantees of Debt
Subsidiary Guarantee of Debt	22. Subsidiary Guarantees of Debt The following unaudited 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. For purposes of the presentation of unaudited 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 under SEC regulations. The company’s senior notes are guaranteed on a full and unconditional guarantee 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 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 September 30, 2018, and December 31, 2017, and for the three and nine months ended September 30, 2018 and 2017. The information for the three and nine months ended September 30, 2017, has been retrospectively adjusted to reflect the addition of three new subsidiary guarantors of the company’s debt obligations in March 2018, and for ownership transfers of group companies from a non-guarantor subsidiary to the parent. In addition, as a result of the July 31, 2018, sale of the U.S. steel food and steel aerosol business, certain guarantor subsidiaries ceased to be guarantors of Ball’s debt obligations. The unaudited 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 September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,666 $ 1,481 $ (201) $ 2,946 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,405) (1,158) 201 (2,362) Depreciation and amortization (1) (49) (121) — (171) Selling, general and administrative (244) 179 (48) — (113) Business consolidation and other activities (53) 13 8 — (32) Equity in results of subsidiaries 369 8 — (377) — Intercompany 52 (6) (46) — — 123 (1,260) (1,365) (176) (2,678) Earnings (loss) before interest and taxes 123 406 116 (377) 268 Interest expense (79) 3 — — (76) Debt refinancing and other costs — — — — — Total interest expense (79) 3 — — (76) Earnings (loss) before taxes 44 409 116 (377) 192 Tax (provision) benefit 15 (103) (52) — (140) Equity in results of affiliates, net of tax — 3 4 — 7 Net earnings (loss) 59 309 68 (377) 59 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Ball Corporation $ 59 $ 309 $ 68 $ (377) $ 59 Comprehensive earnings (loss) attributable to Ball Corporation $ 26 $ 313 $ 8 $ (321) $ 26 Unaudited Condensed Consolidating Statement of Earnings Three Months Ended September 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,448 $ 1,480 $ (20) $ 2,908 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,198) (1,160) 20 (2,338) Depreciation and amortization (1) (52) (109) — (162) Selling, general and administrative (41) (39) (47) — (127) Business consolidation and other activities (18) (70) (69) — (157) Equity in results of subsidiaries 72 (30) — (42) — Intercompany 79 (41) (38) — — 91 (1,430) (1,423) (22) (2,784) Earnings (loss) before interest and taxes 91 18 57 (42) 124 Interest expense (71) 2 (5) — (74) Debt refinancing and other costs — — — — — Total interest expense (71) 2 (5) — (74) Earnings (loss) before taxes 20 20 52 (42) 50 Tax (provision) benefit 28 (9) (23) — (4) Equity in results of affiliates, net of tax — 2 3 — 5 Net earnings (loss) 48 13 32 (42) 51 Less net earnings attributable to noncontrolling interests — — (3) — (3) Net earnings (loss) attributable to Ball Corporation $ 48 $ 13 $ 29 $ (42) $ 48 Comprehensive earnings (loss) attributable to Ball Corporation $ 42 $ 12 $ 21 $ (33) $ 42 Condensed Consolidating Statement of Earnings For the Nine Months Ended September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Subsidiaries Eliminating Consolidated Net sales $ — $ 5,003 $ 4,428 $ (599) $ 8,832 Cost and expenses Cost of sales (excluding depreciation and amortization) — (4,235) (3,447) 599 (7,083) Depreciation and amortization (4) (153) (372) — (529) Selling, general and administrative (278) 65 (139) — (352) Business consolidation and other activities (70) (41) (20) — (131) Equity in results of subsidiaries 634 61 — (695) — Intercompany 228 (158) (70) — — 510 (4,461) (4,048) (96) (8,095) Earnings (loss) before interest and taxes 510 542 380 (695) 737 Interest expense (235) 10 (1) — (226) Debt refinancing and other costs (1) — — — (1) Total interest expense (236) 10 (1) — (227) Earnings (loss) before taxes 274 552 379 (695) 510 Tax (provision) benefit 29 (135) (114) — (220) Equity in results of affiliates, net of tax — 1 13 — 14 Net earnings 303 418 278 (695) 304 Less net earnings attributable to noncontrolling interests — — (1) — (1) Net earnings attributable to Ball Corporation $ 303 $ 418 $ 277 $ (695) $ 303 Comprehensive earnings (loss) attributable to Ball Corporation $ 159 $ 309 $ 105 $ (414) $ 159 Condensed Consolidating Statement of Earnings For the Nine Months Ended September 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Subsidiaries Eliminating Consolidated Net sales $ — $ 4,227 $ 4,099 $ (90) $ 8,236 Cost and expenses Cost of sales (excluding depreciation and amortization) — (3,514) (3,159) 90 (6,583) Depreciation and amortization (5) (153) (381) — (539) Selling, general and administrative (141) (115) (142) — (398) Business consolidation and other activities (82) (76) (95) — (253) Equity in results of subsidiaries 343 (19) — (324) — Intercompany 241 (124) (117) — — 356 (4,001) (3,894) (234) (7,773) Earnings (loss) before interest and taxes 356 226 205 (324) 463 Interest expense (205) 4 (15) — (216) Debt refinancing and other costs — — (1) — (1) Total interest expense (205) 4 (16) — (217) Earnings (loss) before taxes 151 230 189 (324) 246 Tax (provision) benefit 64 (72) (40) — (48) Equity in results of affiliates, net of tax — 11 12 — 23 Net earnings 215 169 161 (324) 221 Less net earnings attributable to noncontrolling interests — — (6) — (6) Net earnings attributable to Ball Corporation $ 215 $ 169 $ 155 $ (324) $ 215 Comprehensive earnings (loss) attributable to Ball Corporation $ 231 $ 165 $ 122 $ (287) $ 231 Condensed Consolidating Balance Sheet September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 593 $ — $ 598 Receivables, net 23 522 1,327 — 1,872 Intercompany receivables 71 529 1,690 (2,290) — Inventories, net — 469 774 — 1,243 Other current assets 33 32 82 — 147 Total current assets 132 1,552 4,466 (2,290) 3,860 Noncurrent assets Property, plant and equipment, net 19 1,358 3,131 — 4,508 Investment in subsidiaries 10,917 3,772 (100) (14,589) — Goodwill — 1,190 3,307 — 4,497 Intangible assets, net 17 417 1,813 — 2,247 Other assets 186 216 956 — 1,358 Total assets $ 11,271 $ 8,505 $ 13,573 $ (16,879) $ 16,470 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 108 $ — $ 42 $ — $ 150 Accounts payable 48 1,000 1,905 — 2,953 Intercompany payables 2,314 86 495 (2,895) — Accrued employee costs 21 139 100 — 260 Other current liabilities 95 126 229 — 450 Total current liabilities 2,586 1,351 2,771 (2,895) 3,813 Noncurrent liabilities Long-term debt 6,515 — 8 — 6,523 Employee benefit obligations 654 468 299 — 1,421 Intercompany long-term notes (2,128) 41 1,481 606 — Deferred taxes (106) 108 670 — 672 Other liabilities 110 47 139 — 296 Total liabilities 7,631 2,015 5,368 (2,289) 12,725 Common stock 1,142 2,523 5,310 (7,833) 1,142 Preferred stock — — 5 (5) — Retained earnings 5,224 4,651 3,231 (7,882) 5,224 Accumulated other comprehensive earnings (loss) (800) (684) (446) 1,130 (800) Treasury stock, at cost (1,926) — — — (1,926) Total Ball Corporation shareholders' equity 3,640 6,490 8,100 (14,590) 3,640 Noncontrolling interests — — 105 — 105 Total shareholders' equity 3,640 6,490 8,205 (14,590) 3,745 Total liabilities and shareholders' equity $ 11,271 $ 8,505 $ 13,573 $ (16,879) $ 16,470 Condensed Consolidating Balance Sheet December 31, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 443 $ — $ 448 Receivables, net 3 260 1,371 — 1,634 Intercompany receivables 39 1,285 102 (1,426) — Inventories, net — 673 853 — 1,526 Other current assets 9 52 89 — 150 Total current assets 56 2,270 2,858 (1,426) 3,758 Noncurrent assets Property, plant and equipment, net 20 1,364 3,226 — 4,610 Investment in subsidiaries 8,639 3,885 470 (12,994) — Goodwill — 1,545 3,388 — 4,933 Intangible assets, net 15 470 1,977 — 2,462 Other assets 185 282 939 — 1,406 Total assets $ 8,915 $ 9,816 $ 12,858 $ (14,420) $ 17,169 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 351 $ — $ 102 $ — $ 453 Accounts payable 14 1,084 1,664 — 2,762 Intercompany payables 705 82 639 (1,426) — Accrued employee costs 28 182 142 — 352 Other current liabilities 170 111 259 — 540 Total current liabilities 1,268 1,459 2,806 (1,426) 4,107 Noncurrent liabilities Long-term debt 6,504 — 14 — 6,518 Employee benefit obligations 333 811 319 — 1,463 Intercompany long-term notes (3,172) 1,305 1,867 — — Deferred taxes (109) 107 697 — 695 Other liabilities 150 50 140 — 340 Total liabilities 4,974 3,732 5,843 (1,426) 13,123 Common stock 1,084 2,463 4,286 (6,749) 1,084 Preferred stock — — 5 (5) — Retained earnings 4,987 4,196 2,893 (7,089) 4,987 Accumulated other comprehensive earnings (loss) (656) (575) (274) 849 (656) Treasury stock, at cost (1,474) — — — (1,474) Total Ball Corporation shareholders' equity 3,941 6,084 6,910 (12,994) 3,941 Noncontrolling interests — — 105 — 105 Total shareholders' equity 3,941 6,084 7,015 (12,994) 4,046 Total liabilities and shareholders' equity $ 8,915 $ 9,816 $ 12,858 $ (14,420) $ 17,169 Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (103) $ 148 $ 982 $ 1,027 Cash flows from investing activities Capital expenditures (5) (356) (255) (616) Business dispositions, net of cash sold (53) 604 — 551 Other, net (1) 18 33 50 Cash provided by (used in) investing activities (59) 266 (222) (15) Cash flows from financing activities Long-term borrowings 1,475 — — 1,475 Repayments of long-term borrowings (1,525) — (6) (1,531) Net change in short-term borrowings (138) — (51) (189) Proceeds from issuances of common stock, net of shares used for taxes 25 — — 25 Acquisitions of treasury stock (464) — — (464) Common stock dividends (104) — — (104) Intercompany 905 (413) (492) — Other, net (12) (1) — (13) Cash provided by (used in) financing activities 162 (414) (549) (801) Effect of exchange rate changes on cash — — (59) (59) Change in cash, cash equivalents and restricted cash — — 152 152 Cash, cash equivalents and restricted cash – beginning of period 5 — 454 459 Cash, cash equivalents and restricted cash – end of period $ 5 $ — $ 606 $ 611 Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 266 $ 368 $ 110 $ 744 Cash flows from investing activities Capital expenditures (5) (234) (165) (404) Business dispositions, net of cash sold — 31 — 31 Other, net 1 18 (16) 3 Cash provided by (used in) investing activities (4) (185) (181) (370) Cash flows from financing activities Long-term borrowings 440 — — 440 Repayments of long-term borrowings (433) — (476) (909) Net change in short-term borrowings 151 1 68 220 Proceeds from issuances of common stock, net of shares used for taxes 18 — — 18 Acquisitions of treasury stock (103) — — (103) Common stock dividends (93) — — (93) Intercompany (231) (170) 401 — Other, net — (2) — (2) Cash provided by (used in) financing activities (251) (171) (7) (429) Effect of exchange rate changes on cash (8) — 19 11 Change in cash, cash equivalents and restricted cash 3 12 (59) (44) Cash, cash equivalents and restricted cash – beginning of period 1 (10) 616 607 Cash, cash equivalents and restricted cash – end of period $ 4 $ 2 $ 557 $ 563

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events
Subsequent Events	23. Subsequent Event In October 2018, the company announced that it intends to cease production at the beverage packaging plant located in San Martino, Italy, in December 2018. An estimate of the impact on the consolidated financial statements cannot be made at this time.

Accounting Pronouncements (Poli

Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Pronouncements
Accounting Pronouncements Recently Adopted	Recently Adopted Accounting Standards Revenue from Contracts with Customers On January 1, 2018, Ball adopted Accounting Standard Codification 606, “Revenue from Contracts with Customers,” and all related amendments (collectively, the new revenue standard) applying the modified retrospective method to all contracts that were not completed as of January 1, 2018. The cumulative effect of initially applying the new revenue standard was recognized as an adjustment to the company’s retained earnings balance as of January 1, 2018. Comparative periods have not been restated and continue to be reported under the accounting standards in effect for those periods. The cumulative effect of the changes made to the consolidated January 1, 2018, balance sheet for the adoption of the new revenue standard is as follows: ($ in millions) Balance at December 31, 2017 Adjustments Due to Adoption Balance at January 1, 2018 Assets Receivables, net $ 1,634 $ 307 $ 1,941 Inventories, net 1,526 (241) 1,285 Other current assets 150 (4) 146 Liabilities Other current liabilities 540 17 557 Deferred taxes 695 7 702 Shareholders' equity Retained earnings 4,987 37 5,024 Accumulated other comprehensive earnings (loss) (656) 1 (655) In accordance with the disclosure requirements of the new revenue standard, the impact of adoption on our consolidated statement of earnings and balance sheet was as follows: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 ($ in millions, except per share amounts) As Reported Balances Without Adoption Effect of Change Higher (Lower) As Reported Balances Without Adoption Effect of Change Higher (Lower) Net sales $ 2,946 $ 2,985 $ (39) $ 8,832 $ 8,880 $ (48) Cost of sales (excluding depreciation and amortization) (2,362) (2,393) 31 (7,083) (7,121) 38 Earnings before interest and taxes 268 276 (8) 737 747 (10) Tax (provision) benefit (140) (143) 3 (220) (222) 2 Net earnings attributable to Ball Corporation 59 64 (5) 303 311 (8) Basic earnings per share 0.17 0.19 (0.02) 0.87 0.90 (0.03) Diluted earnings per share 0.17 0.18 (0.01) 0.86 0.88 (0.02) September 30, 2018 ($ in millions) As Reported Balances Without Adoption Effect of Change Assets Receivables, net $ 1,872 $ 1,622 $ 250 Inventories, net 1,243 1,444 (201) Other current assets 147 153 (6) Liabilities Other current liabilities 450 442 8 Deferred taxes 672 667 5 Shareholders' equity Retained earnings 5,224 5,195 29 Accumulated other comprehensive earnings (loss) (800) (801) 1 The following summarizes the significant changes to the company’s unaudited condensed consolidated statement of earnings and consolidated balance sheet as a result of the new revenue standard adopted on January 1, 2018, compared to if the company had continued to recognize sales under the previous revenue recognition guidance: · For the metal beverage packaging segments and, to a lesser extent, in our non-reportable segment that manufactures aerosol packaging, the new revenue standard accelerated the recognition of certain sales to be over time such that a portion of sales was recognized prior to shipment or delivery of goods. The accelerated recognition of sales also caused the company’s inventory to decrease with an offsetting increase to unbilled receivables to the extent the amounts had not yet been invoiced to the customer and right to payment was unconditional. · For the aerospace segment, sales from the majority of the company’s contracts continue to be recognized over time under the “cost-to-cost” method based on the continuous transfer of control to the customer, which is consistent with how sales were recognized under previous revenue recognition guidance. Therefore, no cumulative adjustment was required to be made upon adoption. · Ball recognized a contract liability when the customer’s payment, or Ball’s unconditional right to that consideration, preceded the company’s performance. Share-Based Compensation In May 2017, amendments to existing accounting guidance were issued to provide clarity and reduce diversity in practice, cost and complexity when applying stock compensation accounting guidance 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 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. The guidance was applied prospectively on January 1, 2018, and it did not have an impact on the company’s unaudited condensed consolidated financial statements. Pension and Postretirement Benefit Costs In March 2017, amendments to existing accounting guidance were issued to change the presentation of net periodic pension cost and net periodic postretirement benefit cost. Employers are required 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 cost and net periodic postretirement 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 was adopted by the company on January 1, 2018, and the capitalization of the service cost component was applied on a prospective basis. Curtailment and settlement losses are reported by the company in business consolidation and other activities. All other non-service components are immaterial and are presented in selling, general and administrative (SG&A) expenses beginning in 2018. These non-service costs were reported in both cost of sales and SG&A in prior periods; however, due to immateriality in all prior periods presented, no retrospective adjustments were considered necessary. Such costs were $4 million and $16 million for the three and nine months ended September 30, 2017, respectively, and $21 million for the full year 2017. Sales of Nonfinancial Assets In February 2017, amendments to existing accounting guidance were issued to clarify the scope 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 guidance for consolidation, including instances in which the business is considered to be in substance real estate. This guidance was applied on January 1, 2018, using a modified retrospective approach and did not have a material impact on the company’s unaudited condensed consolidated financial statements. Definition of a Business 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 the new guidance for revenue recognition. The guidance was applied prospectively for Ball on January 1, 2018, and did not have an impact on the company’s unaudited condensed consolidated financial statements. Statement of Cash Flows In November 2016, accounting guidance was issued requiring the statement of cash flows to reconcile the change in the total of cash, cash equivalents and restricted cash or restricted cash equivalents. This guidance was applied retrospectively on January 1, 2018, and the impact on the 2017 statement of cash flow was not material. The impact on the 2016 statement of cash flows was material due to approximately $2 billion of restricted cash held by the company at December 31, 2015, in an acquisition escrow account. In July 2016, the funds in the escrow account were used to pay a portion of the cash component of the acquisition price of Rexam. The impact on the statement of cash flows for the nine months ended September 30, 2017, was a $3 million reduction in cash flows from operating activities. 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, for cash flows with aspects of more than one class which are not separately identifiable, classification based on the predominant source for those cash flows This guidance was applied retrospectively on January 1, 2018, and did not have a material impact on the company’s unaudited condensed consolidated statement of cash flows. Intra-Entity Transfers In October 2016, amendments to existing accounting guidance were issued that 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 to an unrelated third party. The amendments also eliminate the exception for an intra-entity transfer of an asset other than inventory. This guidance was applied on a modified retrospective basis on January 1, 2018, and did not have a material impact on the company’s unaudited condensed consolidated financial statements. Financial Assets and Liabilities 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. Subsequent guidance was issued in February 2018 to clarify certain aspects of the guidance issued in January 2016. The guidance modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities have to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any related changes in fair value in net income unless the investments qualify for the new practicality exception. An exception applies 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 was applied on January 1, 2018, and did not have a material impact on the company’s unaudited condensed consolidated financial statements .
New Accounting Guidance	New Accounting Guidance Derivatives and Hedging In October 2018, amendments to existing accounting guidance were issued to permit use of the overnight index swap (OIS) rate based on the secured overnight finance rate (SOFR) as a U.S. benchmark interest rate for hedge accounting purposes. This guidance is effective for Ball on January 1, 2019, and is not expected to have a material effect on the company’s consolidated financial statements. Cloud Computing Arrangements In August 2018, amendments to existing accounting guidance were issued to clarify the accounting for implementation costs for cloud computing arrangements. The amendments specify that existing guidance for capitalizing implementation costs incurred to develop or obtain internal-use software applies to capitalizing implementation costs incurred in a hosting arrangement that is a service contract. The guidance is effective for Ball on January 1, 2020, and the company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements. Fair Value Measurements and Pension and Postretirement Benefit Costs In August 2018, amendments to existing accounting guidance were issued to simplify financial statement disclosures related to defined benefit plans and fair value measurements. This guidance is effective for Ball on January 1, 2020, and is not expected to have a material effect on the company’s consolidated financial statements. Share Based Payments In June 2018, amendments to existing accounting guidance were issued to simplify share-based payment transactions for acquiring goods and services from nonemployees. The amendments specify that existing guidance for share-based payment transactions with employees applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that existing guidance does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of revenue contracts. The guidance is effective for Ball on January 1, 2019, and is not expected to have a material effect on the company’s consolidated financial statements. Stranded Tax Effects In February 2018, accounting guidance was issued to permit the reclassification from accumulated other comprehensive income to retained earnings of stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act signed into law in December 2017. The guidance is effective for Ball on January 1, 2019, and the company is currently assessing whether or not to early adopt the new guidance. Financial Assets In June 2016, amendments to existing guidance were issued 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 when 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. Lease Accounting 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, on 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. In July 2018, targeted improvements were issued to provide an additional optional transition method that would allow entities to apply the new leases standard upon adoption by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. This option is in addition to the existing modified retrospective transition method that requires entities to apply the new standard at the beginning of the earliest period presented in the financial statements. Ball is electing this additional transition approach and will apply the new standard as of January 1, 2019 rather than the earliest comparative period presented. Additionally, the amendments included a lessor-specific practical expedient, by underlying asset class, to not separate nonlease components from the associated lease components, similar to the practical expedient already made available by the standard to lessees. The lessor practical expedient is limited to circumstances in which the nonlease component or components otherwise would be accounted for under the new revenue guidance and both of the following are true: (1) the timing and pattern of transfer are the same for the nonlease component(s) and associated lease component and (2) the lease component, if accounted for separately, would be classified as an operating lease. Codification improvements were also were issued on a variety of topics within the new leases standard, which represent minor corrections or improvements and are not expected to have a significant impact on accounting practices. We have established a cross-functional implementation team, which includes representatives from all of our business segments. We are utilizing a bottoms-up approach to analyze the impact of the new standard by reviewing our current lease population, including completeness, to identify potential accounting, data and other operational changes that might be required under the new guidance. In addition, we are implementing the required changes to our business processes, systems and controls to support recognition and disclosure upon adoption. This includes enhancing processes and controls for identifying leases, centralizing the accounting for leases, and implementing a system to calculate the accounting impact for the lease standard. The guidance will be effective for Ball on January 1, 2019, and it is expected that a material amount of lease assets and liabilities will be recorded on our consolidated balance sheet.

Accounting Pronouncements (Tabl

Accounting Pronouncements (Tables) - ASU 2014-09	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change	($ in millions) Balance at December 31, 2017 Adjustments Due to Adoption Balance at January 1, 2018 Assets Receivables, net $ 1,634 $ 307 $ 1,941 Inventories, net 1,526 (241) 1,285 Other current assets 150 (4) 146 Liabilities Other current liabilities 540 17 557 Deferred taxes 695 7 702 Shareholders' equity Retained earnings 4,987 37 5,024 Accumulated other comprehensive earnings (loss) (656) 1 (655)
Schedule of impact of adoption of new accounting pronouncements on current period financial statements	Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 ($ in millions, except per share amounts) As Reported Balances Without Adoption Effect of Change Higher (Lower) As Reported Balances Without Adoption Effect of Change Higher (Lower) Net sales $ 2,946 $ 2,985 $ (39) $ 8,832 $ 8,880 $ (48) Cost of sales (excluding depreciation and amortization) (2,362) (2,393) 31 (7,083) (7,121) 38 Earnings before interest and taxes 268 276 (8) 737 747 (10) Tax (provision) benefit (140) (143) 3 (220) (222) 2 Net earnings attributable to Ball Corporation 59 64 (5) 303 311 (8) Basic earnings per share 0.17 0.19 (0.02) 0.87 0.90 (0.03) Diluted earnings per share 0.17 0.18 (0.01) 0.86 0.88 (0.02) September 30, 2018 ($ in millions) As Reported Balances Without Adoption Effect of Change Assets Receivables, net $ 1,872 $ 1,622 $ 250 Inventories, net 1,243 1,444 (201) Other current assets 147 153 (6) Liabilities Other current liabilities 450 442 8 Deferred taxes 672 667 5 Shareholders' equity Retained earnings 5,224 5,195 29 Accumulated other comprehensive earnings (loss) (800) (801) 1

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Business Segment Information
Summary of business by segment	Three Months Ended September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Net sales Beverage packaging, North and Central America $ 1,237 $ 1,080 $ 3,513 $ 3,180 Beverage packaging, South America 391 425 1,229 1,145 Beverage packaging, Europe 683 651 1,995 1,824 Aerospace 283 241 837 734 Reportable segment sales 2,594 2,397 7,574 6,883 Other 352 511 1,258 1,353 Net sales $ 2,946 $ 2,908 $ 8,832 $ 8,236 Comparable operating earnings Beverage packaging, North and Central America $ 153 $ 121 $ 423 $ 400 Beverage packaging, South America 71 78 235 205 Beverage packaging, Europe 84 74 219 184 Aerospace 26 23 75 70 Reportable segment comparable operating earnings 334 296 952 859 Reconciling items Other (a) 6 17 40 11 Business consolidation and other activities (32) (157) (131) (253) Amortization of acquired Rexam intangibles (40) (37) (124) (120) Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation — 5 — (34) Earnings before interest and taxes 268 124 737 463 Interest expense (76) (74) (226) (216) Debt refinancing and other costs — — (1) (1) Total interest expense (76) (74) (227) (217) Earnings before taxes $ 192 $ 50 $ 510 $ 246 (a) Includes undistributed corporate expenses, net, of $21 million and $29 million for the three months ended September 30, 2018 and 2017, respectively, and $64 million and $106 million for the nine months ended September 30, 2018 and 2017, respectively.

Revenue from Contracts With C_2

Revenue from Contracts With Customers (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Schedule of the disaggregation of revenue by timing of transfer of control	Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 ($ in millions) Point in Time Over Time Total Point in Time Over Time Total Total net sales $ 665 $ 2,281 $ 2,946 $ 2,082 $ 6,750 $ 8,832
Schedule of balances of contract liabilities	Contracts Contract Liabilities Liabilities ($ in millions) (Current) (Noncurrent) Balance at December 31, 2017 $ 45 $ — Increase 22 8 Balance at September 30, 2018 $ 67 $ 8
Schedule of transaction price allocated to remaining performance obligations	($ in millions) Next Twelve Months Thereafter Total Sales expected to be recognized on multi-year contracts in place as of September 30, 2018 $ 849 $ 866 $ 1,715

Business Consolidation and Ot_2

Business Consolidation and Other Activities (Tables)	9 Months Ended
	Sep. 30, 2018
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 September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Beverage packaging, North and Central America $ (14) $ (34) $ (16) $ (45) Beverage packaging, South America 12 (4) 11 (4) Beverage packaging, Europe (3) (62) (17) (69) Other (27) (57) (109) (135) $ (32) $ (157) $ (131) $ (253)
Summary by segment of the activity in the business consolidation reserves	($ in millions) Beverage Packaging, North & Central America Beverage Packaging, Europe Other Total Balance at December 31, 2017 $ 26 $ 41 $ 1 $ 68 Charges (credits) in earnings (6) 14 2 10 Cash payments and other activity (9) (49) (1) (59) Balance at September 30, 2018 $ 11 $ 6 $ 2 $ 19

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2018
Cash and Cash Equivalents [Abstract]
Schedule of cash, cash equivalents and restricted cash	September 30, ($ in millions) 2018 2017 Beginning of period: Cash and cash equivalents $ 448 $ 597 Current restricted cash (included in other current assets) 10 9 Noncurrent restricted cash (included in other assets) 1 1 Total cash, cash equivalents and restricted cash $ 459 $ 607 End of period: Cash and cash equivalents $ 598 $ 556 Current restricted cash (included in other current assets) 13 6 Noncurrent restricted cash (included in other assets) — 1 Total cash, cash equivalents and restricted cash $ 611 $ 563

Receivables, Net (Tables)

Receivables, Net (Tables)	9 Months Ended
	Sep. 30, 2018
Receivables
Schedule of receivables	September 30, December 31, ($ in millions) 2018 2017 Trade accounts receivable $ 1,052 $ 1,206 Unbilled receivables 359 147 Less allowance for doubtful accounts (11) (10) Net trade accounts receivable 1,400 1,343 Other receivables 472 291 $ 1,872 $ 1,634

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2018
Inventories
Schedule of inventories	September 30, December 31, ($ in millions) 2018 2017 Raw materials and supplies $ 694 $ 691 Work-in-process and finished goods 617 902 Less inventory reserves (68) (67) $ 1,243 $ 1,526

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment
Schedule of property, plant and equipment	September 30, December 31, ($ in millions) 2018 2017 Land $ 171 $ 172 Buildings 1,324 1,390 Machinery and equipment 5,120 5,282 Construction-in-progress 567 542 7,182 7,386 Accumulated depreciation (2,674) (2,776) $ 4,508 $ 4,610

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets
Schedule of goodwill	($ in millions) Beverage Beverage Beverage Aerospace Other Total Balance at December 31, 2017 $ 1,275 $ 1,299 $ 1,531 $ 40 $ 788 $ 4,933 Business dispositions — — — — (354) (354) Effects of currency exchange — — (75) — (7) (82) Balance at September 30, 2018 $ 1,275 $ 1,299 $ 1,456 $ 40 $ 427 $ 4,497

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets
Schedule of Finite-Lived Intangible Assets	September 30, December 31, ($ in millions) 2018 2017 Acquired Rexam intangibles (net of accumulated amortization of $362 million at September 30, 2018, and $246 million at December 31, 2017) $ 2,129 $ 2,303 Capitalized software (net of accumulated amortization of $142 million at September 30, 2018, and $129 million at December 31, 2017) 81 84 Other intangibles (net of accumulated amortization of $135 million at September 30, 2018, and $163 million at December 31, 2017) 37 75 $ 2,247 $ 2,462

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Other Assets..
Schedule of other assets	September 30, December 31, ($ in millions) 2018 2017 Long-term deferred tax assets $ 202 $ 325 Long-term pension assets 508 504 Investments in affiliates 314 274 Company and trust-owned life insurance 176 160 Other 158 143 $ 1,358 $ 1,406

Debt and Interest Costs (Tables

Debt and Interest Costs (Tables)	9 Months Ended
	Sep. 30, 2018
Debt and Interest Costs
Schedule of long-term debt	September 30, December 31, ($ in millions) 2018 2017 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 812 840 5.00% due March 2022 750 750 4.875% due March 2026 750 — 3.50%, euro denominated, due December 2020 464 480 Senior Credit Facilities, due March 2021 (at variable rates) Term A loan, due June 2021 798 1,313 Multi-currency, U.S. dollar revolver, due March 2021 — 285 Other (including debt issuance costs) (43) (37) 6,531 6,631 Less: Current portion of long-term debt (8) (113) $ 6,523 $ 6,518

Employee Benefit Obligations (T

Employee Benefit Obligations (Tables)	9 Months Ended
	Sep. 30, 2018
Employee Benefit Obligations
Schedule of employee benefit obligations	September 30, December 31, ($ in millions) 2018 2017 Underfunded defined benefit pension liabilities $ 885 $ 945 Less: Current portion (25) (27) Long-term defined benefit pension liabilities 860 918 Long-term retiree medical liabilities 191 196 Deferred compensation plans 293 275 Other 77 74 $ 1,421 $ 1,463
Components of net periodic benefit cost	Three Months Ended September 30, 2018 2017 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 13 $ 3 $ 16 $ 13 $ 4 $ 17 Interest cost 25 18 43 29 22 51 Expected return on plan assets (27) (27) (54) (31) (26) (57) Amortization of prior service cost — — — 1 — 1 Recognized net actuarial loss 9 2 11 8 1 9 Curtailment and settlement losses including special termination benefits 14 (a) — 14 43 (a) — 43 Total net periodic benefit cost $ 34 $ (4) $ 30 $ 63 $ 1 $ 64 (a) Includes settlement losses related to the purchase of non-participating annuities, plant shutdown benefits and other settlements that occur in the normal course of business, which have been recorded in business consolidation and other activities. Nine Months Ended September 30, 2018 2017 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 40 $ 11 $ 51 $ 37 $ 12 $ 49 Interest cost 73 54 127 95 66 161 Expected return on plan assets (82) (81) (163) (97) (78) (175) Amortization of prior service cost 1 — 1 1 — 1 Recognized net actuarial loss 28 4 32 26 3 29 Curtailment and settlement losses including special termination benefits 14 (a) — 14 43 (a) — 43 Net periodic benefit cost for Ball sponsored plans 74 (12) 62 105 3 108 Net periodic benefit cost for multi-employer plans 1 — 1 2 — 2 Total net periodic benefit cost $ 75 $ (12) $ 63 $ 107 $ 3 $ 110

Shareholders_ Equity and Comp_2

Shareholders’ Equity and Comprehensive Earnings (Tables)	9 Months Ended
	Sep. 30, 2018
Shareholders’ Equity and Comprehensive Earnings
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, 2017 $ (307) $ (362) $ 13 $ (656) Other comprehensive earnings (loss) before reclassifications (156) 24 35 (97) Amounts reclassified from accumulated other comprehensive earnings (loss) — 25 (72) (47) Balance at September 30, 2018 $ (463) $ (313) $ (24) $ (800)
Information related to amounts recognized into net earnings from accumulated other comprehensive earnings (loss)	Three Months Ended September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ 2 $ — $ (2) $ (3) Commodity contracts recorded in cost of sales 19 12 47 34 Currency exchange contracts recorded in selling, general and administrative — 1 1 (2) Currency exchange contracts recorded in business consolidation and other activities — (3) — — Cross-currency swaps recorded in selling, general and administrative 7 (35) 37 (119) Cross-currency swaps recorded in interest expense 4 3 10 13 Total before tax effect 32 (22) 93 (77) Tax benefit (expense) on amounts reclassified into earnings (8) 15 (21) 12 Recognized gain (loss), net of tax $ 24 $ (7) $ 72 $ (65) Amortization of pension and other postretirement benefits: (a) Prior service income (expense) $ — $ (1) $ — $ (1) Actuarial gains (losses) (b) (15) (48) (34) (65) Total before tax effect (15) (49) (34) (66) Tax benefit (expense) on amounts reclassified into earnings 4 19 9 25 Recognized gain (loss), net of tax $ (11) $ (30) $ (25) $ (41) (a) The pension components are included in the computation of net periodic benefit cost disclosed in Note 16. (b) Includes curtailment and settlement losses. Refer to Note 16 for further details.

Earnings and Dividends Per Sh_2

Earnings and Dividends Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings and Dividends Per Share
Schedule of earnings per share	Three Months Ended September 30, Nine Months Ended September 30, ($ in millions, except per share amounts; shares in thousands) 2018 2017 2018 2017 Net earnings attributable to Ball Corporation $ 59 $ 48 $ 303 $ 215 Basic weighted average common shares 342,982 350,327 347,113 350,481 Effect of dilutive securities 6,727 8,229 6,642 8,011 Weighted average shares applicable to diluted earnings per share 349,709 358,556 353,755 358,492 Per basic share $ 0.17 $ 0.14 $ 0.87 $ 0.61 Per diluted share $ 0.17 $ 0.13 $ 0.86 $ 0.60

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	9 Months Ended
	Sep. 30, 2018
Financial Instruments and Risk Management
Schedule of fair value of derivative instruments	September 30, 2018 ($ in millions) Balance Sheet Location Derivatives Derivatives not Total Assets: Commodity contracts $ 18 $ 2 $ 20 Foreign currency contracts 1 18 19 Cross-currency and other contracts — 2 2 Total current derivative contracts Other current assets $ 19 $ 22 $ 41 Commodity contracts $ 1 $ — $ 1 Total noncurrent derivative contracts Other noncurrent assets $ 1 $ — $ 1 Liabilities: Commodity contracts $ 13 $ 5 $ 18 Foreign currency contracts — 4 4 Cross-currency and other contracts — 1 1 Total current derivative contracts Other current liabilities $ 13 $ 10 $ 23 Commodity contracts $ 1 $ — $ 1 Cross-currency and other contracts 86 — 86 Total noncurrent derivative contracts Other noncurrent liabilities $ 87 $ — $ 87 December 31, 2017 Derivatives Derivatives not Total Assets: Commodity contracts $ 46 $ 3 $ 49 Foreign currency contracts 5 10 15 Total current derivative contracts Other current assets $ 51 $ 13 $ 64 Commodity contracts $ 6 $ — $ 6 Total noncurrent derivative contracts Other noncurrent assets $ 6 $ — $ 6 Liabilities: Commodity contracts $ 4 $ 4 $ 8 Foreign currency contracts — 21 21 Cross-currency and other contracts — 2 2 Total current derivative contracts Other current liabilities $ 4 $ 27 $ 31 Cross-currency and other contracts $ 117 $ 3 $ 120 Total noncurrent derivative contracts Other noncurrent liabilities $ 117 $ 3 $ 120
Schedule of impact on earnings from derivative instruments	Three Months Ended September 30, 2018 2017 ($ 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 $ 2 $ — $ — $ (1) Commodity contracts - manage exposure to supplier pricing Cost of sales 19 2 12 (2) Foreign currency contracts - manage general exposure with the business Selling, general and administrative — 16 1 (34) Foreign currency contracts - manage exposure for acquisition of Rexam Business consolidation and other activities — — (3) — Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative 7 — (35) — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 4 — 3 — Equity contracts Selling, general and administrative — 21 — (3) Total $ 32 $ 39 $ (22) $ (40) Nine Months Ended September 30, 2018 2017 ($ 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 $ (2) $ 1 $ (3) $ (3) Commodity contracts - manage exposure to supplier pricing Cost of sales 47 6 34 (5) Foreign currency contracts - manage general exposure with the business Selling, general and administrative 1 73 (2) (63) Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative 37 — (119) — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 10 — 13 — Equity contracts Selling, general and administrative — 14 — 8 Total $ 93 $ 94 $ (77) $ (63)
Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives	Three Months Ended September 30, Nine Months Ended September 30, ($ in millions) 2018 2017 2018 2017 Amounts reclassified into earnings: Commodity contracts $ (21) $ (12) $ (45) $ (31) Cross-currency swap contracts (11) 32 (47) 106 Currency exchange contracts — 2 (1) 2 Change in fair value of cash flow hedges: Commodity contracts (11) 14 1 43 Interest rate contracts — — — 1 Cross-currency swap contracts 13 (47) 45 (116) Currency exchange contracts 1 3 (2) 4 Foreign currency and tax impacts 6 (2) 12 18 $ (23) $ (10) $ (37) $ 27

Subsidiary Guarantees of Debt (

Subsidiary Guarantees of Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Subsidiary Guarantees of Debt
Schedule of Condensed Consolidating Statement of Earnings	Unaudited Condensed Consolidating Statement of Earnings Three Months Ended September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,666 $ 1,481 $ (201) $ 2,946 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,405) (1,158) 201 (2,362) Depreciation and amortization (1) (49) (121) — (171) Selling, general and administrative (244) 179 (48) — (113) Business consolidation and other activities (53) 13 8 — (32) Equity in results of subsidiaries 369 8 — (377) — Intercompany 52 (6) (46) — — 123 (1,260) (1,365) (176) (2,678) Earnings (loss) before interest and taxes 123 406 116 (377) 268 Interest expense (79) 3 — — (76) Debt refinancing and other costs — — — — — Total interest expense (79) 3 — — (76) Earnings (loss) before taxes 44 409 116 (377) 192 Tax (provision) benefit 15 (103) (52) — (140) Equity in results of affiliates, net of tax — 3 4 — 7 Net earnings (loss) 59 309 68 (377) 59 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Ball Corporation $ 59 $ 309 $ 68 $ (377) $ 59 Comprehensive earnings (loss) attributable to Ball Corporation $ 26 $ 313 $ 8 $ (321) $ 26 Unaudited Condensed Consolidating Statement of Earnings Three Months Ended September 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,448 $ 1,480 $ (20) $ 2,908 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,198) (1,160) 20 (2,338) Depreciation and amortization (1) (52) (109) — (162) Selling, general and administrative (41) (39) (47) — (127) Business consolidation and other activities (18) (70) (69) — (157) Equity in results of subsidiaries 72 (30) — (42) — Intercompany 79 (41) (38) — — 91 (1,430) (1,423) (22) (2,784) Earnings (loss) before interest and taxes 91 18 57 (42) 124 Interest expense (71) 2 (5) — (74) Debt refinancing and other costs — — — — — Total interest expense (71) 2 (5) — (74) Earnings (loss) before taxes 20 20 52 (42) 50 Tax (provision) benefit 28 (9) (23) — (4) Equity in results of affiliates, net of tax — 2 3 — 5 Net earnings (loss) 48 13 32 (42) 51 Less net earnings attributable to noncontrolling interests — — (3) — (3) Net earnings (loss) attributable to Ball Corporation $ 48 $ 13 $ 29 $ (42) $ 48 Comprehensive earnings (loss) attributable to Ball Corporation $ 42 $ 12 $ 21 $ (33) $ 42 Condensed Consolidating Statement of Earnings For the Nine Months Ended September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Subsidiaries Eliminating Consolidated Net sales $ — $ 5,003 $ 4,428 $ (599) $ 8,832 Cost and expenses Cost of sales (excluding depreciation and amortization) — (4,235) (3,447) 599 (7,083) Depreciation and amortization (4) (153) (372) — (529) Selling, general and administrative (278) 65 (139) — (352) Business consolidation and other activities (70) (41) (20) — (131) Equity in results of subsidiaries 634 61 — (695) — Intercompany 228 (158) (70) — — 510 (4,461) (4,048) (96) (8,095) Earnings (loss) before interest and taxes 510 542 380 (695) 737 Interest expense (235) 10 (1) — (226) Debt refinancing and other costs (1) — — — (1) Total interest expense (236) 10 (1) — (227) Earnings (loss) before taxes 274 552 379 (695) 510 Tax (provision) benefit 29 (135) (114) — (220) Equity in results of affiliates, net of tax — 1 13 — 14 Net earnings 303 418 278 (695) 304 Less net earnings attributable to noncontrolling interests — — (1) — (1) Net earnings attributable to Ball Corporation $ 303 $ 418 $ 277 $ (695) $ 303 Comprehensive earnings (loss) attributable to Ball Corporation $ 159 $ 309 $ 105 $ (414) $ 159 Condensed Consolidating Statement of Earnings For the Nine Months Ended September 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Subsidiaries Eliminating Consolidated Net sales $ — $ 4,227 $ 4,099 $ (90) $ 8,236 Cost and expenses Cost of sales (excluding depreciation and amortization) — (3,514) (3,159) 90 (6,583) Depreciation and amortization (5) (153) (381) — (539) Selling, general and administrative (141) (115) (142) — (398) Business consolidation and other activities (82) (76) (95) — (253) Equity in results of subsidiaries 343 (19) — (324) — Intercompany 241 (124) (117) — — 356 (4,001) (3,894) (234) (7,773) Earnings (loss) before interest and taxes 356 226 205 (324) 463 Interest expense (205) 4 (15) — (216) Debt refinancing and other costs — — (1) — (1) Total interest expense (205) 4 (16) — (217) Earnings (loss) before taxes 151 230 189 (324) 246 Tax (provision) benefit 64 (72) (40) — (48) Equity in results of affiliates, net of tax — 11 12 — 23 Net earnings 215 169 161 (324) 221 Less net earnings attributable to noncontrolling interests — — (6) — (6) Net earnings attributable to Ball Corporation $ 215 $ 169 $ 155 $ (324) $ 215 Comprehensive earnings (loss) attributable to Ball Corporation $ 231 $ 165 $ 122 $ (287) $ 231
Schedule of Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 593 $ — $ 598 Receivables, net 23 522 1,327 — 1,872 Intercompany receivables 71 529 1,690 (2,290) — Inventories, net — 469 774 — 1,243 Other current assets 33 32 82 — 147 Total current assets 132 1,552 4,466 (2,290) 3,860 Noncurrent assets Property, plant and equipment, net 19 1,358 3,131 — 4,508 Investment in subsidiaries 10,917 3,772 (100) (14,589) — Goodwill — 1,190 3,307 — 4,497 Intangible assets, net 17 417 1,813 — 2,247 Other assets 186 216 956 — 1,358 Total assets $ 11,271 $ 8,505 $ 13,573 $ (16,879) $ 16,470 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 108 $ — $ 42 $ — $ 150 Accounts payable 48 1,000 1,905 — 2,953 Intercompany payables 2,314 86 495 (2,895) — Accrued employee costs 21 139 100 — 260 Other current liabilities 95 126 229 — 450 Total current liabilities 2,586 1,351 2,771 (2,895) 3,813 Noncurrent liabilities Long-term debt 6,515 — 8 — 6,523 Employee benefit obligations 654 468 299 — 1,421 Intercompany long-term notes (2,128) 41 1,481 606 — Deferred taxes (106) 108 670 — 672 Other liabilities 110 47 139 — 296 Total liabilities 7,631 2,015 5,368 (2,289) 12,725 Common stock 1,142 2,523 5,310 (7,833) 1,142 Preferred stock — — 5 (5) — Retained earnings 5,224 4,651 3,231 (7,882) 5,224 Accumulated other comprehensive earnings (loss) (800) (684) (446) 1,130 (800) Treasury stock, at cost (1,926) — — — (1,926) Total Ball Corporation shareholders' equity 3,640 6,490 8,100 (14,590) 3,640 Noncontrolling interests — — 105 — 105 Total shareholders' equity 3,640 6,490 8,205 (14,590) 3,745 Total liabilities and shareholders' equity $ 11,271 $ 8,505 $ 13,573 $ (16,879) $ 16,470 Condensed Consolidating Balance Sheet December 31, 2017 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 5 $ — $ 443 $ — $ 448 Receivables, net 3 260 1,371 — 1,634 Intercompany receivables 39 1,285 102 (1,426) — Inventories, net — 673 853 — 1,526 Other current assets 9 52 89 — 150 Total current assets 56 2,270 2,858 (1,426) 3,758 Noncurrent assets Property, plant and equipment, net 20 1,364 3,226 — 4,610 Investment in subsidiaries 8,639 3,885 470 (12,994) — Goodwill — 1,545 3,388 — 4,933 Intangible assets, net 15 470 1,977 — 2,462 Other assets 185 282 939 — 1,406 Total assets $ 8,915 $ 9,816 $ 12,858 $ (14,420) $ 17,169 Liabilities and Shareholders' Equity Current liabilities Short-term debt and current portion of long-term debt $ 351 $ — $ 102 $ — $ 453 Accounts payable 14 1,084 1,664 — 2,762 Intercompany payables 705 82 639 (1,426) — Accrued employee costs 28 182 142 — 352 Other current liabilities 170 111 259 — 540 Total current liabilities 1,268 1,459 2,806 (1,426) 4,107 Noncurrent liabilities Long-term debt 6,504 — 14 — 6,518 Employee benefit obligations 333 811 319 — 1,463 Intercompany long-term notes (3,172) 1,305 1,867 — — Deferred taxes (109) 107 697 — 695 Other liabilities 150 50 140 — 340 Total liabilities 4,974 3,732 5,843 (1,426) 13,123 Common stock 1,084 2,463 4,286 (6,749) 1,084 Preferred stock — — 5 (5) — Retained earnings 4,987 4,196 2,893 (7,089) 4,987 Accumulated other comprehensive earnings (loss) (656) (575) (274) 849 (656) Treasury stock, at cost (1,474) — — — (1,474) Total Ball Corporation shareholders' equity 3,941 6,084 6,910 (12,994) 3,941 Noncontrolling interests — — 105 — 105 Total shareholders' equity 3,941 6,084 7,015 (12,994) 4,046 Total liabilities and shareholders' equity $ 8,915 $ 9,816 $ 12,858 $ (14,420) $ 17,169
Schedule of Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2018 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (103) $ 148 $ 982 $ 1,027 Cash flows from investing activities Capital expenditures (5) (356) (255) (616) Business dispositions, net of cash sold (53) 604 — 551 Other, net (1) 18 33 50 Cash provided by (used in) investing activities (59) 266 (222) (15) Cash flows from financing activities Long-term borrowings 1,475 — — 1,475 Repayments of long-term borrowings (1,525) — (6) (1,531) Net change in short-term borrowings (138) — (51) (189) Proceeds from issuances of common stock, net of shares used for taxes 25 — — 25 Acquisitions of treasury stock (464) — — (464) Common stock dividends (104) — — (104) Intercompany 905 (413) (492) — Other, net (12) (1) — (13) Cash provided by (used in) financing activities 162 (414) (549) (801) Effect of exchange rate changes on cash — — (59) (59) Change in cash, cash equivalents and restricted cash — — 152 152 Cash, cash equivalents and restricted cash – beginning of period 5 — 454 459 Cash, cash equivalents and restricted cash – end of period $ 5 $ — $ 606 $ 611 Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2017 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 266 $ 368 $ 110 $ 744 Cash flows from investing activities Capital expenditures (5) (234) (165) (404) Business dispositions, net of cash sold — 31 — 31 Other, net 1 18 (16) 3 Cash provided by (used in) investing activities (4) (185) (181) (370) Cash flows from financing activities Long-term borrowings 440 — — 440 Repayments of long-term borrowings (433) — (476) (909) Net change in short-term borrowings 151 1 68 220 Proceeds from issuances of common stock, net of shares used for taxes 18 — — 18 Acquisitions of treasury stock (103) — — (103) Common stock dividends (93) — — (93) Intercompany (231) (170) 401 — Other, net — (2) — (2) Cash provided by (used in) financing activities (251) (171) (7) (429) Effect of exchange rate changes on cash (8) — 19 11 Change in cash, cash equivalents and restricted cash 3 12 (59) (44) Cash, cash equivalents and restricted cash – beginning of period 1 (10) 616 607 Cash, cash equivalents and restricted cash – end of period $ 4 $ 2 $ 557 $ 563

Accounting Pronouncements - Rev

Accounting Pronouncements - Revenue Recognition (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 02, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets [Abstract]
Receivables, net	$ 1,872		$ 1,872		$ 1,941		$ 1,634
Inventories, net	1,243		1,243		1,285		1,526
Other current assets	147		147		146		150
Liabilities [Abstract]
Other current liabilities	450		450		557		540
Deferred taxes	672		672		702		695
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Retained earnings	5,224		5,224		5,024		4,987
Accumulated other comprehensive earnings (loss)	(800)		(800)		$ (655)		$ (656)
Net Income (Loss) Attributable to Parent [Abstract]
Net sales	2,946	$ 2,908	8,832	$ 8,236
Cost of sales (excluding depreciation and amortization)	(2,362)	(2,338)	(7,083)	(6,583)
Earnings before interest and taxes	268	124	737	463
Tax (provision) benefit	(140)	(4)	(220)	(48)
Net earnings attributable to Ball Corporation	$ 59	$ 48	$ 303	$ 215
Basic (in dollars per share)	$ 0.17	$ 0.14	$ 0.87	$ 0.61
Diluted (in dollars per share)	$ 0.17	$ 0.13	$ 0.86	$ 0.60
Net earnings	$ 59	$ 51	$ 304	$ 221
Adjustments Due to New Guidance | ASU 2014-09
Assets [Abstract]
Receivables, net	250		250			$ 307
Inventories, net	(201)		(201)			(241)
Other current assets	(6)		(6)			(4)
Liabilities [Abstract]
Other current liabilities	8		8			17
Deferred taxes	5		5			7
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Retained earnings	29		29			37
Accumulated other comprehensive earnings (loss)	1		1			$ 1
Net Income (Loss) Attributable to Parent [Abstract]
Net sales	(39)		(48)
Cost of sales (excluding depreciation and amortization)	31		38
Earnings before interest and taxes	(8)		(10)
Tax (provision) benefit	3		2
Net earnings attributable to Ball Corporation	$ (5)		$ (8)
Basic (in dollars per share)	$ (0.02)		$ (0.03)
Diluted (in dollars per share)	$ (0.01)		$ (0.02)
Balance before adoption
Assets [Abstract]
Receivables, net	$ 1,622		$ 1,622
Inventories, net	1,444		1,444
Other current assets	153		153
Liabilities [Abstract]
Other current liabilities	442		442
Deferred taxes	667		667
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Retained earnings	5,195		5,195
Accumulated other comprehensive earnings (loss)	(801)		(801)
Net Income (Loss) Attributable to Parent [Abstract]
Net sales	2,985		8,880
Cost of sales (excluding depreciation and amortization)	(2,393)		(7,121)
Earnings before interest and taxes	276		747
Tax (provision) benefit	(143)		(222)
Net earnings attributable to Ball Corporation	$ 64		$ 311
Basic (in dollars per share)	$ 0.19		$ 0.90
Diluted (in dollars per share)	$ 0.18		$ 0.88

Accounting Pronouncements - Def

Accounting Pronouncements - Defined benefits and cash flow (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2015
ASU 2017-07
Pension and Postretirement Benefit Costs
Other non-service components of pension and postretirement benefit costs	$ (4)		$ 16	$ 21
Amount of adjustments to non-service costs of defined benefit costs		$ 0
ASU 2016-18
New Accounting Pronouncements, Retrospective adjustments
Escrow cash account					$ 2,000
Impact on cash flows from operating activities due to use of escrow funds			$ (3)

Business Segment Information -

Business Segment Information - Summary of Business (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)	Jul. 31, 2018
Business Segment Information
Number of reportable segments | segment			4
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	$ 2,946	$ 2,908	$ 8,832	$ 8,236
Reconciling items
Other	6	17	40	11
Business consolidation and other activities	(32)	(157)	(131)	(253)
Amortization of acquired Rexam intangibles	(50)	(49)	(154)	(166)
Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation		5		(34)
Earnings before interest and taxes	268	124	737	463
Interest expense	(76)	(74)	(226)	(216)
Debt refinancing and other costs			(1)	(1)
Total interest expense	(76)	(74)	(227)	(217)
Earnings before taxes	192	50	510	246
Undistributed corporate expenses	21	29	64	106
Operating Segments
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	2,594	2,397	7,574	6,883
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	334	296	952	859
Operating Segments | Beverage packaging, North And Central America
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	1,237	1,080	3,513	3,180
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	153	121	423	400
Reconciling items
Business consolidation and other activities	(14)	(34)	(16)	(45)
Operating Segments | Beverage packaging, South America
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	391	425	1,229	1,145
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	71	78	235	205
Reconciling items
Business consolidation and other activities	12	(4)	11	(4)
Operating Segments | Beverage packaging, Europe
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	683	651	1,995	1,824
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	84	74	219	184
Reconciling items
Business consolidation and other activities	(3)	(62)	(17)	(69)
Operating Segments | Aerospace
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	283	241	837	734
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	26	23	75	70
Other
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	352	511	1,258	1,353
Reconciling items
Business consolidation and other activities	(27)	(57)	(109)	(135)
Rexam
Reconciling items
Amortization of acquired Rexam intangibles	$ (40)	$ (37)	$ (124)	$ (120)
Ball Metalpack
Business Segment Information
Percentage of ownership in a joint venture					49.00%

Acquisitions and Dispositions -

Acquisitions and Dispositions - Dispositions (Details) $ in Millions	Jul. 31, 2018USD ($)Plant	Sep. 30, 2018USD ($)	Sep. 30, 2018USD ($)
Disposition
Loss on sale of U.S. steel food and steel aerosol packaging business	$ 38
US steel food and steel aerosol packaging | Disposal Group, Held-for-sale, Not Discontinued Operations
Disposition
Cash received in exchange for the sale of business	$ 600
Number of plants sold | Plant	9
Ball Metalpack
Disposition
Percentage of ownership in a joint venture	49.00%
Related party transactions
Sale of metal to joint venture		$ 62	$ 62
Profit from sale of metal to joint venture		0	0
Accounts receivable from joint venture		$ 78	$ 78

Revenue from Contracts With C_3

Revenue from Contracts With Customers - Disaggregation (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment			4
Total net sales	$ 2,946	$ 2,908	$ 8,832	$ 8,236
Point in Time
Disaggregation of Revenue [Line Items]
Total net sales	665		2,082
Over Time
Disaggregation of Revenue [Line Items]
Total net sales	$ 2,281		$ 6,750

Revenue from Contracts With C_4

Revenue from Contracts With Customers - Contract balances (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017
Contract with Customer, Asset and Liability [Abstract]
Contract Liabilities (Current)	$ 67	$ 67	$ 45
Contract Liabilities (Noncurrent)	8	8
Increase (decrease) current		22
Increase (decrease) noncurrent		8
Increase (decrease) in contract liabilities		30
Cash received on contract liabilities		176
Revenue recognized included in contract liabilities current		146
Revenue recognized from opening balance of contract liabilities		45
Revenue recognized from obligations satisfied or partially satisfied in prior periods	$ 3	$ 8
Maximum
Contract with Customer, Asset and Liability [Abstract]
Payment term		1 year

Revenue from Contracts With C_5

Revenue from Contracts With Customers - Practical Expedients (Details)	9 Months Ended
	Sep. 30, 2018
Practical expedients
Practical expedient - nondisclosure of transaction price for future performance obligations	true
Practical expedient - financing component	true

Revenue from Contracts With C_6

Revenue from Contracts With Customers - Performance obligations (Details) - Aerospace $ in Millions	Sep. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Sales expected to be recognized on multi-year contracts in place as of the end of the period	$ 1,715
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Sales expected to be recognized on multi-year contracts in place as of the end of the period	849
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Sales expected to be recognized on multi-year contracts in place as of the end of the period	$ 866

Revenue from Contracts With C_7

Revenue from Contracts With Customers - Performance Obligation 2 (Details) - Aerospace	Sep. 30, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Period in which remaining performance obligations expect to be satisfied and revenue recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Period in which remaining performance obligations expect to be satisfied and revenue recognized	0 months

Revenue from Contracts With C_8

Revenue from Contracts With Customers - Performance domain (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)contract
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment term	1 year
Aerospace
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Sales expected to be recognized on multi-year contracts in place as of the end of the period | $	$ 1,715
Number of types of long-term sales contracts utilized | contract	2
Aerospace | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment term	1 year

Business Consolidation and Ot_3

Business Consolidation and Other Activities (Details) - USD ($) $ in Millions	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Business consolidation and other activities
Business consolidation and other activities		$ (32)	$ (157)	$ (131)	$ (253)
Gain (Loss) on sale of disposal group	$ 38
Settlement loss				14		$ 41
Employee Severance and Benefits, Accelerated Depreciation and Inventory Impairment
Business consolidation and other activities
Charges related to manufacturing cost rationalization				4
Beverage packaging, North And Central America
Business consolidation and other activities
Individually insignificant activities		(5)	1	10	5
Beverage packaging, North And Central America | Reidsville North Carolina Plant | Facility Closing
Business consolidation and other activities
Charges related to facilities closure				2
Beverage packaging, North And Central America | Reidsville North Carolina Plant | Employee Severance And Benefits Facility Shutdown Costs Asset Impairment Accelerated Depreciation And Other Costs
Business consolidation and other activities
Charges related to facilities closure					7
Beverage packaging, North And Central America | Birmingham, Alabama, Chatsworth, California And Longview, Texas | Facility Closing
Business consolidation and other activities
Reversal of previously recorded expenses related to facilities closure				5
Beverage packaging, North And Central America | Birmingham, Alabama, Chatsworth, California And Longview, Texas | Employee Severance And Benefits
Business consolidation and other activities
Charges related to facilities closure			29
Beverage packaging, North And Central America | Birmingham, Alabama, Chatsworth, California And Longview, Texas | Facility Shutdown Costs Asset Impairment Accelerated Depreciation And Other Costs
Business consolidation and other activities
Charges related to facilities closure			4
Beverage packaging, North And Central America | Birmingham, Alabama, Chatsworth, California And Longview, Texas | Employee Severance And Benefits Facility Shutdown Costs Asset Impairment Accelerated Depreciation And Other Costs
Business consolidation and other activities
Charges related to facilities closure		9
Beverage packaging, South America
Business consolidation and other activities
Individually insignificant activities		4	4	5	4
Gain related to indirect tax contingencies in Brazil		16
Beverage packaging, Europe
Business consolidation and other activities
Individually insignificant activities		1		2	5
Beverage packaging, Europe | Rexam
Business consolidation and other activities
Professional services and other costs					2
Beverage packaging, Europe | Recklinghausen, Germany | Employee Severance And Benefits
Business consolidation and other activities
Charges related to facilities closure			55
Beverage packaging, Europe | Recklinghausen, Germany | Facility Shutdown Costs Asset Impairment Accelerated Depreciation And Other Costs
Business consolidation and other activities
Charges related to facilities closure			7
Beverage packaging, Europe | Recklinghausen, Germany | Employee Benefits Severance Facility Shutdown Costs And Other Costs
Business consolidation and other activities
Charges related to facilities closure		2		15
Operating Segments | Beverage packaging, North And Central America
Business consolidation and other activities
Business consolidation and other activities		(14)	(34)	(16)	(45)
Operating Segments | Beverage packaging, South America
Business consolidation and other activities
Business consolidation and other activities		12	(4)	11	(4)
Operating Segments | Beverage packaging, Europe
Business consolidation and other activities
Business consolidation and other activities		(3)	(62)	(17)	(69)
Other
Business consolidation and other activities
Business consolidation and other activities		(27)	(57)	(109)	(135)
Individually insignificant activities		6	11	24	21
Settlement loss		14	41	14	41
Other | Rexam
Business consolidation and other activities
Professional services and other costs					12
Compensation arrangement expense		4	5	19	22
Other | Weirton West Virginia Plant | Facility Shutdown Costs And Accelerated Depreciation
Business consolidation and other activities
Charges related to facilities closure					6
US steel food and steel aerosol packaging | Other | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business consolidation and other activities
Professional services and other costs		6		10
Gain (Loss) on sale of disposal group				38
Adjustment to gain on sale of Divestment Business		(3)
Food and aerosol packaging paint and general line can plant | Other | Hubbard Ohio Plant | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business consolidation and other activities
Gain (Loss) on sale of disposal group					15
Divestment Business | Other | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business consolidation and other activities
Expense of indemnifications of uncertain tax positions					34
Adjustment to gain on sale of Divestment Business					(14)
Ball Corporation
Business consolidation and other activities
Business consolidation and other activities		$ (53)	$ (18)	$ (70)	$ (82)

Business Consolidation and Ot_4

Business Consolidation and Other Activities - Restructuring liabilities (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Activity in business consolidation reserves
Balance at beginning of period	$ 68
Charges (credits) in earnings	10
Cash payments and other activity	(59)
Balance at end of period	19
Beverage packaging, North And Central America
Activity in business consolidation reserves
Balance at beginning of period	26
Charges (credits) in earnings	(6)
Cash payments and other activity	(9)
Balance at end of period	11
Beverage packaging, Europe
Activity in business consolidation reserves
Balance at beginning of period	41
Charges (credits) in earnings	14
Cash payments and other activity	(49)
Balance at end of period	6
Other
Activity in business consolidation reserves
Balance at beginning of period	1
Charges (credits) in earnings	2
Cash payments and other activity	(1)
Balance at end of period	$ 2

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents	$ 598	$ 448	$ 556	$ 597
Current restricted cash	$ 13	$ 10	$ 6	$ 9
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List]	Other Assets, Current	Other Assets, Current	Other Assets, Current	Other Assets, Current
Noncurrent restricted cash		$ 1	$ 1	$ 1
Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent	Other Assets, Noncurrent	Other Assets, Noncurrent
Total cash, cash equivalents and restricted cash	$ 611	$ 459	$ 563	$ 607
Other Non-cash items
PP&E acquired but not yet paid	98	$ 124
Rexam
Other Non-cash items
Payment of indemnification guarantees	$ 45

Receivables, Net (Details)

Receivables, Net (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jan. 02, 2018	Dec. 31, 2017
Receivables
Trade accounts receivable	$ 1,052		$ 1,206
Unbilled receivables	359		147
Less allowances for doubtful accounts	(11)		(10)
Net trade accounts receivable	1,400		1,343
Other receivables	472		291
Receivables, net	1,872	$ 1,941	1,634
Accounts receivable available for sale under factoring programs	208		439
Maximum
Receivables
Accounts receivable available for sale under factoring programs	$ 1,150		$ 1,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jan. 02, 2018	Dec. 31, 2017
Inventories
Raw materials and supplies	$ 694		$ 691
Work-in-process and finished goods	617		902
Less inventory reserves	(68)		(67)
Inventories, net	$ 1,243	$ 1,285	$ 1,526

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Property, plant and equipment
Property, plant and equipment, gross	$ 7,182		$ 7,182		$ 7,386
Accumulated depreciation	(2,674)		(2,674)		(2,776)
Net property, plant and equipment	4,508		4,508		4,610
Depreciation expense	121	$ 113	375	$ 373
Noncash capital expenditures			98		124
Land
Property, plant and equipment
Property, plant and equipment, gross	171		171		172
Buildings
Property, plant and equipment
Property, plant and equipment, gross	1,324		1,324		1,390
Machinery and equipment
Property, plant and equipment
Property, plant and equipment, gross	5,120		5,120		5,282
Construction-in-progress
Property, plant and equipment
Property, plant and equipment, gross	$ 567		$ 567		$ 542
Rexam
Property, plant and equipment
Catch up depreciation		$ 19

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Goodwill
Balance at the beginning of the period	$ 4,933
Business disposition	(354)
Effects of currency exchange	(82)
Balance at the end of the period	4,497
Goodwill	4,933
Beverage packaging, North And Central America
Goodwill
Balance at the beginning of the period	1,275
Balance at the end of the period	1,275
Goodwill	1,275
Beverage packaging, South America
Goodwill
Balance at the beginning of the period	1,299
Balance at the end of the period	1,299
Goodwill	1,299
Beverage packaging, Europe
Goodwill
Balance at the beginning of the period	1,531
Effects of currency exchange	(75)
Balance at the end of the period	1,456
Goodwill	1,531
Aerospace
Goodwill
Balance at the beginning of the period	40
Balance at the end of the period	40
Goodwill	40
Beverage Asia Pacific
Goodwill
Balance at the end of the period	78
Percentage of fair value exceeding carrying value		24.00%
Goodwill	78
Other
Goodwill
Balance at the beginning of the period	788
Business disposition	(354)
Effects of currency exchange	(7)
Balance at the end of the period	427
Goodwill	$ 788

Intangibles Assets, Net (Detail

Intangibles Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Total annual intangible asset amortization expense
Acquired intangible assets, net of accumulated amortization	$ 37		$ 37		$ 75
Accumulated amortization	135		135		163
Capitalized software (net of accumulated amortization)	81		81		84
Accumulated amortization - capitalized software	142		142		129
Total intangible assets, net	2,247		2,247		2,462
Amortization of Intangible Assets	50	$ 49	154	$ 166
Rexam
Total annual intangible asset amortization expense
Acquired intangible assets, net of accumulated amortization	2,129		2,129		2,303
Accumulated amortization	362		362		$ 246
Amortization of Intangible Assets	$ 40	$ 37	$ 124	120
Amortization recorded as a result of changes to the initial accounting of intangible assets in business combination				$ 15

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Other assets
Long-term deferred tax assets	$ 202	$ 325
Long-term pension assets	508	504
Investments in affiliates	314	274
Company and trust-owned life insurance	176	160
Other	158	143
Other Assets	$ 1,358	$ 1,406

Debt and Interest Costs - Long

Debt and Interest Costs - Long term debt (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Long-term debt
Other (including debt issuance costs)	$ (43)	$ (37)
Long-term debt, Total	6,531	6,631
Less: Current portion of long-term debt	(8)	(113)
Long-term debt excluding current maturities	6,523	6,518
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	$ 812	840
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 4.875 Percent Due March 2026 [Member]
Long-term debt
Long-term Debt, Gross	$ 750
Interest rate (as a percent)	4.875%
Senior Notes 3.50 Percent, euro denominated, due December 2020
Long-term debt
Long-term Debt, Gross	$ 464	480
Interest rate (as a percent)	3.50%
Term A Loan, due June 2021
Long-term debt
Long-term Debt, Gross	$ 798	1,313
Multi-currency U.S. dollar revolver, due March 2021
Long-term debt
Long-term Debt, Gross		$ 285

Debt and Interest Costs - Activ

Debt and Interest Costs - Activity (Details) - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Committed multi-currency revolving credit facilities due 2021
Revolving credit facility
Available borrowing capacity under line of credit facility		$ 1,470
Short-term uncommitted credit facilities
Revolving credit facility
Available borrowing capacity under line of credit facility		1
Amount of credit facility outstanding and due on demand		142	$ 340
Senior Notes 4.875 Percent Due March 2026 [Member]
Revolving credit facility
Face amount of debt	$ 750
2018 Revolver
Revolving credit facility
Maximum borrowing capacity of revolving credit facility		$ 1,500
Term A Loan, euro denominated, due June 2021
Revolving credit facility
Repayment of debt	$ 315

Debt and Interest Costs - FV, M

Debt and Interest Costs - FV, Maturities, etc. (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Long term debt value
Letters of credit, outstanding amount	$ 28	$ 33
Ownership interest in guarantor subsidiaries (as a percent)	100.00%
Leverage ratio, maximum	4.25
Level 2
Long term debt value
Fair value of the long-term debt	$ 6,700	$ 7,000

Taxes on Income - Tax reform es

Taxes on Income - Tax reform estimates (Details) $ in Millions	Jan. 01, 2018	Sep. 30, 2018	Dec. 31, 2017USD ($)	Sep. 30, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Increase in effective tax rate due to write-off of goodwill		37.7		14.2
Effect of Tax Cuts and Jobs Act
Income tax expense for the estimated impact of the Tax Act adjustments			$ 83
Provisional increase of tax expense, change in tax rate effect on tax asset position			52
Effective income tax rate	21.00%
Provisional increase of transition tax expense			$ 31

Employee Benefit Obligations -

Employee Benefit Obligations - Total (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Employee Benefit Obligations
Underfunded defined benefit pension liabilities	$ 885	$ 945
Less current portion	(25)	(27)
Long-term defined benefit pension liabilities	860	918
Long-term retiree medical liabilities	191	196
Deferred compensation plans	293	275
Other	77	74
Total non-current employee benefit obligations	$ 1,421	$ 1,463

Employee Benefit Obligations _2

Employee Benefit Obligations - Components of net periodic benefit cost (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Aug. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2018
Ball-sponsored plans:
Curtailments and settlements including special termination benefits			$ 14	$ 43
Total net periodic benefit cost			30	64	$ 63	$ 110
Non-service pension income (cost)				$ (4)	$ 3	$ (16)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible List]				Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Settlement loss					$ 14		$ 41
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement and Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible List]					Restructuring and Other Activities		Restructuring and Other Activities
Forecast
Ball-sponsored plans:
Expected contributions to pension plans for the full year								$ 66
Ball Sponsored Plans
Ball-sponsored plans:
Service cost			16	$ 17	$ 51	$ 49
Interest cost			43	51	127	161
Expected return on plan assets			(54)	(57)	(163)	(175)
Amortization of prior service cost				1	1	1
Recognized net actuarial loss			11	9	32	29
Curtailments and settlements including special termination benefits					14	43
Net periodic benefit cost for Ball sponsored plans					62	108
Multi-employer Plans
Ball-sponsored plans:
Net periodic benefit cost for multiemployer plans					1	2
Defined Benefit Pension Plans | Excluding German Swedish And Certain U S Plans
Ball-sponsored plans:
Contributions to pension plans					53	201
U.S.
Ball-sponsored plans:
Curtailments and settlements including special termination benefits			14	43
Total net periodic benefit cost			34	63	75	107
Pension benefit obligation to be transferred	$ 176	$ 224
U.S. | Ball Sponsored Plans
Ball-sponsored plans:
Service cost			13	13	40	37
Interest cost			25	29	73	95
Expected return on plan assets			(27)	(31)	(82)	(97)
Amortization of prior service cost				1	1	1
Recognized net actuarial loss			9	8	28	26
Curtailments and settlements including special termination benefits					14	43
Net periodic benefit cost for Ball sponsored plans					74	105
U.S. | Multi-employer Plans
Ball-sponsored plans:
Net periodic benefit cost for multiemployer plans					1	2
Foreign
Ball-sponsored plans:
Total net periodic benefit cost			(4)	1	(12)	3
Foreign | Ball Sponsored Plans
Ball-sponsored plans:
Service cost			3	4	11	12
Interest cost			18	22	54	66
Expected return on plan assets			(27)	(26)	(81)	(78)
Recognized net actuarial loss			$ 2	$ 1	4	3
Net periodic benefit cost for Ball sponsored plans					$ (12)	$ 3

Shareholders' Equity and Compre

Shareholders' Equity and Comprehensive Earnings (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended		3 Months Ended						9 Months Ended		12 Months Ended
	Oct. 31, 2018	Aug. 31, 2017	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018
Class of Stock
Dividends declared (in dollars per share)			$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.065
Stock Repurchase Program [Abstract]
Share repurchases, net of issuances	$ 89								$ 439	$ 85
Share repurchase agreement amount		$ 100
Shares received		2.5
Forecast
Stock Repurchase Program [Abstract]
Share repurchases, net of issuances											$ 700

Shareholders' Equity - AOCI Act

Shareholders' Equity - AOCI Activity (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 3,941
Stockholders' Equity Attributable to Parent, Ending Balance	3,640
Foreign Currency Translation
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(307)
Other comprehensive earnings (loss) before reclassifications	(156)
Stockholders' Equity Attributable to Parent, Ending Balance	(463)
Pension and Other Postretirement Benefits (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(362)
Other comprehensive earnings (loss) before reclassifications	24
Amounts reclassified from accumulated other comprehensive earnings (loss)	25
Stockholders' Equity Attributable to Parent, Ending Balance	(313)
Effective Derivatives (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	13
Other comprehensive earnings (loss) before reclassifications	35
Amounts reclassified from accumulated other comprehensive earnings (loss)	(72)
Stockholders' Equity Attributable to Parent, Ending Balance	(24)
Accumulated Other Comprehensive Earnings (Loss)
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(656)
Other comprehensive earnings (loss) before reclassifications	(97)
Amounts reclassified from accumulated other comprehensive earnings (loss)	(47)
Stockholders' Equity Attributable to Parent, Ending Balance	$ (800)

Shareholders' Equity - AOCI Add

Shareholders' Equity - AOCI Additional Details (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gains (losses) on cash flow hedges
Net sales	$ 2,946	$ 2,908	$ 8,832	$ 8,236
Cost of sales (excluding depreciation and amortization)	(2,362)	(2,338)	(7,083)	(6,583)
Selling, general and administrative	(113)	(127)	(352)	(398)
Business consolidation and other activities	(32)	(157)	(131)	(253)
Earnings before taxes	192	50	510	246
Tax benefit (expense) on amounts reclassified into earnings	(140)	(4)	(220)	(48)
Net earnings	59	51	304	221
Effective Derivatives (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Gains (losses) on cash flow hedges
Earnings before taxes	32	(22)	93	(77)
Tax benefit (expense) on amounts reclassified into earnings	(8)	15	(21)	12
Net Income (Loss) Attributable to Parent, Total	24	(7)	72	(65)
Effective Derivatives (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Commodity contracts
Gains (losses) on cash flow hedges
Net sales	2		(2)	(3)
Cost of sales (excluding depreciation and amortization)	19	12	47	34
Effective Derivatives (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Foreign currency contracts
Gains (losses) on cash flow hedges
Selling, general and administrative		1	1	(2)
Business consolidation and other activities		(3)
Effective Derivatives (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Cross-currency swap
Gains (losses) on cash flow hedges
Selling, general and administrative	7	(35)	37	(119)
Interest expense	4	3	10	13
Pension and Other Postretirement Benefits (Net of Tax)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	(15)	(49)	(34)	(66)
Tax benefit (expense) on amounts reclassified into earnings	4	19	9	25
Recognized gain (loss)	(11)	(30)	(25)	(41)
Prior service income (expense)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect		(1)		(1)
Actuarial gains (losses)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	$ (15)	$ (48)	$ (34)	$ (65)

Earnings and Dividends Per Sh_3

Earnings and Dividends Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings and Dividends Per Share
Net earnings attributable to Ball Corporation	$ 59			$ 48			$ 303	$ 215
Basic weighted average common shares	342,982			350,327			347,113	350,481
Effect of dilutive securities (in shares)	6,727			8,229			6,642	8,011
Weighted average shares applicable to diluted earnings per share	349,709			358,556			353,755	358,492
Basic (in dollars per share)	$ 0.17			$ 0.14			$ 0.87	$ 0.61
Diluted (in dollars per share)	$ 0.17			$ 0.13			$ 0.86	$ 0.60
Number of outstanding options excluded from computation of diluted earnings per share	4,000			3,000			4,000	5,000
Dividends declared (in dollars per share)	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.065
Dividends paid (in dollars per share)	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.065

Financial Instruments and Ris_3

Financial Instruments and Risk Management - General (Details) $ / shares in Units, shares in Millions, $ in Millions	Sep. 30, 2018USD ($)approach	Sep. 30, 2018USD ($)approach$ / sharesshares	Dec. 31, 2017USD ($)
Financial Instruments and Risk Management
Aggregate fair value of derivative instruments with credit-risk-related contingent features that were in a net liability position	$ 8	$ 8	$ 27
Collateral amount posted for derivative instruments with credit-risk-related contingent features that were in a net liability position	$ 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
Notional amount of derivatives	$ 1,130	$ 1,130
Net gain expected to be recognized in the consolidated statement of earnings during the next 12 months		4
Gain (loss) on derivatives included in accumulated other comprehensive earnings (loss), net of tax	3	3
Commodity contracts | Derivatives Designated As Hedging Instruments | Cash Flow Hedging
Financial Instruments and Risk Management
Notional amount of derivatives	998	$ 998
Commodity contracts | Maximum
Financial Instruments and Risk Management
Period within which derivative will expire		2 years
Interest rate swap and option contracts
Financial Instruments and Risk Management
Notional amount of derivatives	935	$ 935
Period within which derivative will expire		2 years
Currency Exchange Rate Risk
Financial Instruments and Risk Management
Notional amount of derivatives	$ 2,100	$ 2,100
Period within which derivative will expire		2 years
Net after-tax gain (loss) included in AOCI		$ 1
Cross-currency swap
Financial Instruments and Risk Management
Period within which derivative will expire	3 years
Gain (loss) on derivatives included in accumulated other comprehensive earnings (loss), net of tax	$ (28)	(28)
Amount of hedge contract	$ 1,000	$ 1,000
Equity contracts
Financial Instruments and Risk Management
Change in company's stock price (in dollars per share) | $ / shares		$ 1
Combined notional value (in shares) | shares		2.6

Financial Instruments and Ris_4

Financial Instruments and Risk Management - Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value Measurements
Total current derivative contracts, assets	$ 41	$ 64
Total noncurrent derivative contracts, assets	1	6
Total current derivative contracts, liabilities	23	31
Total noncurrent derivative contracts, liabilities	87	120
Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	20	49
Total noncurrent derivative contracts, assets	1	6
Total current derivative contracts, liabilities	18	8
Total noncurrent derivative contracts, liabilities	1
Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	19	15
Total current derivative contracts, liabilities	4	21
Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	2
Total current derivative contracts, liabilities	1	2
Total noncurrent derivative contracts, liabilities	86	120
Derivatives Designated As Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	19	51
Total noncurrent derivative contracts, assets	1	6
Total current derivative contracts, liabilities	13	4
Total noncurrent derivative contracts, liabilities	87	117
Derivatives Designated As Hedging Instruments | Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	18	46
Total noncurrent derivative contracts, assets	1	6
Total current derivative contracts, liabilities	13	4
Total noncurrent derivative contracts, liabilities	1
Derivatives Designated As Hedging Instruments | Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	1	5
Derivatives Designated As Hedging Instruments | Cross-currency and other contracts
Fair Value Measurements
Total noncurrent derivative contracts, liabilities	86	117
Derivatives Not Designated as Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	22	13
Total current derivative contracts, liabilities	10	27
Total noncurrent derivative contracts, liabilities		3
Derivatives Not Designated as Hedging Instruments | Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	2	3
Total current derivative contracts, liabilities	5	4
Derivatives Not Designated as Hedging Instruments | Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	18	10
Total current derivative contracts, liabilities	4	21
Derivatives Not Designated as Hedging Instruments | Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	2
Total current derivative contracts, liabilities	$ 1	2
Total noncurrent derivative contracts, liabilities		$ 3

Financial Instruments and Ris_5

Financial Instruments and Risk Management - Impact on Earnings (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	$ 32	$ (22)	$ 93	$ (77)
Gain (Loss) on Derivatives not Designated as Hedge Instruments	39	(40)	94	(63)
Amounts reclassified into earnings:
Commodity contracts	(21)	(12)	(45)	(31)
Cross currency swap contracts	(11)	32	(47)	106
Currency exchange contracts		2	(1)	2
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	32	(22)	93	(77)
Changes in accumulated other comprehensive earnings (loss) for effective derivatives	(23)	(10)	(37)	27
Commodity contracts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	(11)	14	1	43
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	(11)	14	1	43
Commodity contracts | Net sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	2		(2)	(3)
Gain (Loss) on Derivatives not Designated as Hedge Instruments		(1)	1	(3)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	2		(2)	(3)
Commodity contracts | Cost of sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	19	12	47	34
Gain (Loss) on Derivatives not Designated as Hedge Instruments	2	(2)	6	(5)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	19	12	47	34
Interest rate contracts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)				1
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net				1
Foreign currency contracts | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		1	1	(2)
Gain (Loss) on Derivatives not Designated as Hedge Instruments	16	(34)	73	(63)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		1	1	(2)
Foreign currency contracts | Business consolidation and other activities
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		(3)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		(3)
Equity contracts | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments	21	(3)	14	8
Cross-currency swap
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	13	(47)	45	(116)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	13	(47)	45	(116)
Cross-currency swap | Interest expense.
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	4	3	10	13
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	4	3	10	13
Cross-currency swap | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	7	(35)	37	(119)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	7	(35)	37	(119)
Currency exchange contract
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	1	3	(2)	4
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	1	3	(2)	4
Foreign currency and tax impacts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	6	(2)	12	18
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net	$ 6	$ (2)	$ 12	$ 18

Contingencies - Environmental (

Contingencies - Environmental (Details) $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Nov. 30, 2012item	Sep. 30, 2018USD ($)aaction	Dec. 31, 2016USD ($)	Dec. 31, 2003	Dec. 31, 1992USD ($)company
Other Current Liabilities And Other Noncurrent Liabilities
Environmental remediation
Estimated potential liability for all environmental matters		$ 31
Lowry Landfill Site | Denver And Waste Management Litigation
Environmental remediation
Approximate number of other companies included in complaint | company					38
Number of actions in which the company is actively involved | action		0
Waste Disposal Remediation | Lowry Landfill Site
Environmental remediation
Estimated additional cleanup costs		$ 10
Estimated additional site costs for the potentially responsible party (PRP) group		1
Waste Disposal Remediation | Lowry Landfill Site | Waste Management
Environmental remediation
Project costs to date			$ 142
Period before projected completion of project when response cost is expected to exceed minimum amount				3 years
Waste Disposal Remediation | Lowry Landfill Site | Waste Management | Minimum
Environmental remediation
Site contingency response cost					$ 319
Waste Disposal Remediation | Lower Duwamish Site
Environmental remediation
Project costs to date		100
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

Contingencies - Other (Details)

Contingencies - Other (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Loss Contingencies [Line Items]
Net sales	$ 2,946	$ 2,908	$ 8,832	$ 8,236
Business consolidation and other activities
Loss Contingencies [Line Items]
Prior year collections of ICMS-related collections not remitted now considered realizable	16
Brazilian Subsidiary
Loss Contingencies [Line Items]
Net sales	$ 8

Indemnifications and Guarante_2

Indemnifications and Guarantees (Details)	9 Months Ended
	Sep. 30, 2018
Material Wholly Owned Domestic Subsidiaries
Guarantees
Percent of capital stock pledged	100.00%
Material Wholly Owned First Tier Foreign Subsidiaries
Guarantees
Percent of capital stock pledged	65.00%
Material Wholly Owned Foreign Subsidiaries And Material Wholly Owned U S Domiciled Foreign Subsidiaries
Guarantees
Percent of capital stock pledged	100.00%

Subsidiary Guarantees of Debt -

Subsidiary Guarantees of Debt - Condensed Consolidating Statement of Earnings (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2018item	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Subsidiary Guarantees of Debt
Ownership interest in guarantor subsidiaries (as a percent)				100.00%
Number of new subsidiary guarantors of debt | item	3
Net sales		$ 2,946	$ 2,908	$ 8,832	$ 8,236
Costs and expenses
Cost of sales (excluding depreciation and amortization)		(2,362)	(2,338)	(7,083)	(6,583)
Depreciation and amortization		(171)	(162)	(529)	(539)
Selling, general and administrative		(113)	(127)	(352)	(398)
Business consolidation and other activities		(32)	(157)	(131)	(253)
Total costs and expenses		(2,678)	(2,784)	(8,095)	(7,773)
Earnings before interest and taxes		268	124	737	463
Interest expense		(76)	(74)	(226)	(216)
Debt refinancing and other costs				(1)	(1)
Total interest expense		(76)	(74)	(227)	(217)
Earnings before taxes		192	50	510	246
Tax (provision) benefit		(140)	(4)	(220)	(48)
Equity in results of affiliates, net of tax		7	5	14	23
Net earnings		59	51	304	221
Net earnings attributable to noncontrolling interests			(3)	(1)	(6)
Net earnings attributable to Ball Corporation		59	48	303	215
Comprehensive earnings (loss) attributable to Ball Corporation		26	42	159	231
Eliminating Adjustments
Subsidiary Guarantees of Debt
Net sales		(201)	(20)	(599)	(90)
Costs and expenses
Cost of sales (excluding depreciation and amortization)		201	20	599	90
Equity in results of subsidiaries		(377)	(42)	(695)	(324)
Total costs and expenses		(176)	(22)	(96)	(234)
Earnings before interest and taxes		(377)	(42)	(695)	(324)
Earnings before taxes		(377)	(42)	(695)	(324)
Net earnings		(377)	(42)	(695)	(324)
Net earnings attributable to Ball Corporation		(377)	(42)	(695)	(324)
Comprehensive earnings (loss) attributable to Ball Corporation		(321)	(33)	(414)	(287)
Ball Corporation
Costs and expenses
Depreciation and amortization		(1)	(1)	(4)	(5)
Selling, general and administrative		(244)	(41)	(278)	(141)
Business consolidation and other activities		(53)	(18)	(70)	(82)
Equity in results of subsidiaries		369	72	634	343
Intercompany		52	79	228	241
Total costs and expenses		123	91	510	356
Earnings before interest and taxes		123	91	510	356
Interest expense		(79)	(71)	(235)	(205)
Debt refinancing and other costs				(1)
Total interest expense		(79)	(71)	(236)	(205)
Earnings before taxes		44	20	274	151
Tax (provision) benefit		15	28	29	64
Net earnings		59	48	303	215
Net earnings attributable to Ball Corporation		59	48	303	215
Comprehensive earnings (loss) attributable to Ball Corporation		26	42	159	231
Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Net sales		1,666	1,448	5,003	4,227
Costs and expenses
Cost of sales (excluding depreciation and amortization)		(1,405)	(1,198)	(4,235)	(3,514)
Depreciation and amortization		(49)	(52)	(153)	(153)
Selling, general and administrative		179	(39)	65	(115)
Business consolidation and other activities		13	(70)	(41)	(76)
Equity in results of subsidiaries		8	(30)	61	(19)
Intercompany		(6)	(41)	(158)	(124)
Total costs and expenses		(1,260)	(1,430)	(4,461)	(4,001)
Earnings before interest and taxes		406	18	542	226
Interest expense		3	2	10	4
Total interest expense		3	2	10	4
Earnings before taxes		409	20	552	230
Tax (provision) benefit		(103)	(9)	(135)	(72)
Equity in results of affiliates, net of tax		3	2	1	11
Net earnings		309	13	418	169
Net earnings attributable to Ball Corporation		309	13	418	169
Comprehensive earnings (loss) attributable to Ball Corporation		313	12	309	165
Non-Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Net sales		1,481	1,480	4,428	4,099
Costs and expenses
Cost of sales (excluding depreciation and amortization)		(1,158)	(1,160)	(3,447)	(3,159)
Depreciation and amortization		(121)	(109)	(372)	(381)
Selling, general and administrative		(48)	(47)	(139)	(142)
Business consolidation and other activities		8	(69)	(20)	(95)
Intercompany		(46)	(38)	(70)	(117)
Total costs and expenses		(1,365)	(1,423)	(4,048)	(3,894)
Earnings before interest and taxes		116	57	380	205
Interest expense			(5)	(1)	(15)
Debt refinancing and other costs					(1)
Total interest expense			(5)	(1)	(16)
Earnings before taxes		116	52	379	189
Tax (provision) benefit		(52)	(23)	(114)	(40)
Equity in results of affiliates, net of tax		4	3	13	12
Net earnings		68	32	278	161
Net earnings attributable to noncontrolling interests			(3)	(1)	(6)
Net earnings attributable to Ball Corporation		68	29	277	155
Comprehensive earnings (loss) attributable to Ball Corporation		$ 8	$ 21	$ 105	$ 122

Subsidiary Guarantees of Debt_2

Subsidiary Guarantees of Debt - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jan. 02, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 598		$ 448	$ 556	$ 597
Receivables, net	1,872	$ 1,941	1,634
Inventories, net	1,243	1,285	1,526
Other Assets, Current	147	146	150
Total current assets	3,860		3,758
Noncurrent assets
Property, plant and equipment, net	4,508		4,610
Goodwill	4,497		4,933
Intangible assets, net	2,247		2,462
Other assets	1,358		1,406
Total assets	16,470		17,169
Current liabilities
Short-term debt and current portion of long-term debt	150		453
Accounts payable	2,953		2,762
Accrued employee costs	260		352
Other current liabilities	450	557	540
Total current liabilities	3,813		4,107
Noncurrent liabilities
Long-term debt	6,523		6,518
Employee benefit obligations	1,421		1,463
Long-term derivative liabilities	87		120
Deferred taxes	672	702	695
Other liabilities	296		340
Total liabilities	12,725		13,123
Common stock	1,142		1,084
Retained earnings	5,224	5,024	4,987
Accumulated other comprehensive earnings (loss)	(800)	$ (655)	(656)
Treasury stock, at cost	(1,926)		(1,474)
Total Ball Corporation shareholders' equity	3,640		3,941
Noncontrolling interests	105		105
Total shareholders' equity	3,745		4,046
Total liabilities and shareholders' equity	16,470		17,169
Eliminating Adjustments
Current assets
Intercompany receivables	(2,290)		(1,426)
Total current assets	(2,290)		(1,426)
Noncurrent assets
Investment in subsidiaries	(14,589)		(12,994)
Total assets	(16,879)		(14,420)
Current liabilities
Intercompany payables	(2,895)		(1,426)
Total current liabilities	(2,895)		(1,426)
Noncurrent liabilities
Intercompany long-term notes	606
Total liabilities	(2,289)		(1,426)
Common stock	(7,833)		(6,749)
Preferred stock	(5)		(5)
Retained earnings	(7,882)		(7,089)
Accumulated other comprehensive earnings (loss)	1,130		849
Total Ball Corporation shareholders' equity	(14,590)		(12,994)
Total shareholders' equity	(14,590)		(12,994)
Total liabilities and shareholders' equity	(16,879)		(14,420)
Ball Corporation
Current assets
Cash and cash equivalents	5		5
Receivables, net	23		3
Intercompany receivables	71		39
Other Assets, Current	33		9
Total current assets	132		56
Noncurrent assets
Property, plant and equipment, net	19		20
Investment in subsidiaries	10,917		8,639
Intangible assets, net	17		15
Other assets	186		185
Total assets	11,271		8,915
Current liabilities
Short-term debt and current portion of long-term debt	108		351
Accounts payable	48		14
Intercompany payables	2,314		705
Accrued employee costs	21		28
Other current liabilities	95		170
Total current liabilities	2,586		1,268
Noncurrent liabilities
Long-term debt	6,515		6,504
Employee benefit obligations	654		333
Intercompany long-term notes	(2,128)		(3,172)
Deferred taxes	(106)		(109)
Other liabilities	110		150
Total liabilities	7,631		4,974
Common stock	1,142		1,084
Retained earnings	5,224		4,987
Accumulated other comprehensive earnings (loss)	(800)		(656)
Treasury stock, at cost	(1,926)		(1,474)
Total Ball Corporation shareholders' equity	3,640		3,941
Total shareholders' equity	3,640		3,941
Total liabilities and shareholders' equity	11,271		8,915
Guarantor Subsidiaries
Current assets
Receivables, net	522		260
Intercompany receivables	529		1,285
Inventories, net	469		673
Other Assets, Current	32		52
Total current assets	1,552		2,270
Noncurrent assets
Property, plant and equipment, net	1,358		1,364
Investment in subsidiaries	3,772		3,885
Goodwill	1,190		1,545
Intangible assets, net	417		470
Other assets	216		282
Total assets	8,505		9,816
Current liabilities
Accounts payable	1,000		1,084
Intercompany payables	86		82
Accrued employee costs	139		182
Other current liabilities	126		111
Total current liabilities	1,351		1,459
Noncurrent liabilities
Employee benefit obligations	468		811
Intercompany long-term notes	41		1,305
Deferred taxes	108		107
Other liabilities	47		50
Total liabilities	2,015		3,732
Common stock	2,523		2,463
Retained earnings	4,651		4,196
Accumulated other comprehensive earnings (loss)	(684)		(575)
Total Ball Corporation shareholders' equity	6,490		6,084
Total shareholders' equity	6,490		6,084
Total liabilities and shareholders' equity	8,505		9,816
Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	593		443
Receivables, net	1,327		1,371
Intercompany receivables	1,690		102
Inventories, net	774		853
Other Assets, Current	82		89
Total current assets	4,466		2,858
Noncurrent assets
Property, plant and equipment, net	3,131		3,226
Investment in subsidiaries	(100)		470
Goodwill	3,307		3,388
Intangible assets, net	1,813		1,977
Other assets	956		939
Total assets	13,573		12,858
Current liabilities
Short-term debt and current portion of long-term debt	42		102
Accounts payable	1,905		1,664
Intercompany payables	495		639
Accrued employee costs	100		142
Other current liabilities	229		259
Total current liabilities	2,771		2,806
Noncurrent liabilities
Long-term debt	8		14
Employee benefit obligations	299		319
Intercompany long-term notes	1,481		1,867
Deferred taxes	670		697
Other liabilities	139		140
Total liabilities	5,368		5,843
Common stock	5,310		4,286
Preferred stock	5		5
Retained earnings	3,231		2,893
Accumulated other comprehensive earnings (loss)	(446)		(274)
Total Ball Corporation shareholders' equity	8,100		6,910
Noncontrolling interests	105		105
Total shareholders' equity	8,205		7,015
Total liabilities and shareholders' equity	$ 13,573		$ 12,858

Subsidiary Guarantees of Debt_3

Subsidiary Guarantees of Debt - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	$ 1,027	$ 744
Cash flows from investing activities
Capital expenditures	(616)	(404)
Business dispositions, net of cash sold	551	31
Other, net	50	3
Cash provided by (used in) investing activities	(15)	(370)
Cash Flows from Financing Activities
Long-term borrowings	1,475	440
Repayments of long-term borrowings	(1,531)	(909)
Net change in short-term borrowings	(189)	220
Proceeds from issuances of common stock, net of shares used for taxes	25	18
Acquisitions of treasury stock	(464)	(103)
Common stock dividends	(104)	(93)
Other, net	(13)	(2)
Cash provided by (used in) financing activities	(801)	(429)
Effect of exchange rate changes on cash	(59)	11
Cash and cash equivalents – beginning of year	448	597
Cash and cash equivalents – end of year	598	556
Change in cash, cash equivalents and restricted cash	152	(44)
Cash, cash equivalents and restricted cash - beginning of period	459	607
Cash, cash equivalents and restricted cash - end of period	611	563
Ball Corporation
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	(103)	266
Cash flows from investing activities
Capital expenditures	(5)	(5)
Business dispositions, net of cash sold	(53)
Other, net	(1)	1
Cash provided by (used in) investing activities	(59)	(4)
Cash Flows from Financing Activities
Long-term borrowings	1,475	440
Repayments of long-term borrowings	(1,525)	(433)
Net change in short-term borrowings	(138)	151
Proceeds from issuances of common stock, net of shares used for taxes	25	18
Acquisitions of treasury stock	(464)	(103)
Common stock dividends	(104)	(93)
Intercompany	905	(231)
Other, net	(12)
Cash provided by (used in) financing activities	162	(251)
Effect of exchange rate changes on cash		(8)
Cash and cash equivalents – beginning of year	5
Cash and cash equivalents – end of year	5
Change in cash, cash equivalents and restricted cash		3
Cash, cash equivalents and restricted cash - beginning of period	5	1
Cash, cash equivalents and restricted cash - end of period	5	4
Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	148	368
Cash flows from investing activities
Capital expenditures	(356)	(234)
Business dispositions, net of cash sold	604	31
Other, net	18	18
Cash provided by (used in) investing activities	266	(185)
Cash Flows from Financing Activities
Net change in short-term borrowings		1
Intercompany	(413)	(170)
Other, net	(1)	(2)
Cash provided by (used in) financing activities	(414)	(171)
Change in cash, cash equivalents and restricted cash		12
Cash, cash equivalents and restricted cash - beginning of period		(10)
Cash, cash equivalents and restricted cash - end of period		2
Non-Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	982	110
Cash flows from investing activities
Capital expenditures	(255)	(165)
Other, net	33	(16)
Cash provided by (used in) investing activities	(222)	(181)
Cash Flows from Financing Activities
Repayments of long-term borrowings	(6)	(476)
Net change in short-term borrowings	(51)	68
Intercompany	(492)	401
Cash provided by (used in) financing activities	(549)	(7)
Effect of exchange rate changes on cash	(59)	19
Cash and cash equivalents – beginning of year	443
Cash and cash equivalents – end of year	593
Change in cash, cash equivalents and restricted cash	152	(59)
Cash, cash equivalents and restricted cash - beginning of period	454	616
Cash, cash equivalents and restricted cash - end of period	$ 606	$ 557