Ball (BALL) 10-Q 3 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document and Entity Information
Entity Registrant Name	BALL CORP
Entity Central Index Key	0000009389
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
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		334,744,071
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Earnings
Net sales	$ 2,785	$ 2,785
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(2,253)	(2,237)
Depreciation and amortization	(170)	(180)
Selling, general and administrative	(127)	(112)
Business consolidation and other activities	(14)	(30)
Total costs and expenses	(2,564)	(2,559)
Earnings before interest and taxes	221	226
Interest expense	(77)	(73)
Debt refinancing and other costs	(4)	(1)
Total interest expense	(81)	(74)
Earnings before taxes	140	152
Tax (provision) benefit	(10)	(34)
Equity in results of affiliates, net of tax	(13)	7
Net earnings	117	125
Net (earnings) loss attributable to noncontrolling interests
Net earnings attributable to Ball Corporation	$ 117	$ 125
Earnings per share:
Per basic share (in dollars per share)	$ 0.35	$ 0.36
Per diluted share (in dollars per share)	$ 0.34	$ 0.35
Weighted average shares outstanding (000s):
Basic (in shares)	334,239	350,215
Diluted (in shares)	342,676	357,552

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Comprehensive Earnings (Loss)
Net earnings	$ 117	$ 125
Other comprehensive earnings (loss):
Foreign currency translation adjustment	79	11
Pension and other postretirement benefits	24	16
Derivatives designated as hedges	30	(52)
Total other comprehensive earnings (loss)	133	(25)
Income tax (provision) benefit	(8)	8
Total other comprehensive earnings (loss), net of tax	125	(17)
Total comprehensive earnings (loss)	242	108
Comprehensive (earnings) loss attributable to noncontrolling interests
Comprehensive earnings (loss) attributable to Ball Corporation	$ 242	$ 108

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 603		$ 721	$ 477	$ 448
Receivables, net	1,885		1,802
Inventories, net	1,275		1,271
Other current assets	184	$ 139	140
Assets held for sale	452		6
Total current assets	4,399		3,940
Noncurrent assets
Property, plant and equipment, net	4,360		4,542
Goodwill	4,410		4,475
Intangible assets, net	2,137		2,188
Other assets	1,617		1,409
Total assets	16,923		16,554
Current liabilities
Short-term debt and current portion of long-term debt	399		219
Accounts payable	2,739		3,095
Accrued employee costs	224		289
Other current liabilities	500	489	492
Liabilities held for sale	173
Total current liabilities	4,035		4,095
Noncurrent liabilities
Long-term debt	6,719		6,510
Employee benefit obligations	1,479		1,455
Deferred taxes	625		645
Other liabilities	416	$ 273	287
Total liabilities	13,274		12,992
Equity
Common stock (674,692,058 shares issued - 2019; 673,236,720 shares issued - 2018)	1,154		1,157
Retained earnings	5,504		5,341
Accumulated other comprehensive earnings (loss)	(789)		(835)
Treasury stock, at cost (340,222,598 shares - 2019; 337,978,571 shares - 2018)	(2,323)		(2,205)
Total Ball Corporation shareholders' equity	3,546		3,458
Noncontrolling interests	103		104
Total equity	3,649		3,562	$ 4,138	$ 4,084
Total liabilities and equity	$ 16,923		$ 16,554

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2019	Dec. 31, 2018
Consolidated Balance Sheets
Common stock, shares issued	674,692,058	673,236,720
Treasury stock, at cost	340,222,598	337,978,571

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities
Net earnings	$ 117	$ 125
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:
Depreciation and amortization	170	180
Business consolidation and other activities	14	30
Deferred tax provision (benefit)	10	3
Other, net	47	8
Changes in working capital components, net of dispositions	(487)	(420)
Cash provided by (used in) operating activities	(129)	(74)
Cash Flows from Investing Activities
Capital expenditures	(154)	(242)
Business dispositions, net of cash sold		(45)
Other, net	(9)	3
Cash provided by (used in) investing activities	(163)	(284)
Cash Flows from Financing Activities
Long-term borrowings	671	1,162
Repayments of long-term borrowings	(412)	(683)
Net change in short-term borrowings	160	(14)
Proceeds from issuances of common stock, net of shares used for taxes	(4)
Acquisitions of treasury stock	(146)	(35)
Common stock dividends	(34)	(35)
Other, net	(10)	(11)
Cash provided by (used in) financing activities	225	384
Effect of exchange rate changes on cash	11	1
Change in cash, cash equivalents and restricted cash	(56)	27
Cash, cash equivalents and restricted cash - beginning of period	728	459
Cash, cash equivalents and restricted cash - end of period	$ 672	$ 486

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
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 2018 Annual Report on Form 10-K filed on February 22, 2019, pursuant to the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2018 (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	3 Months Ended
	Mar. 31, 2019
Accounting Pronouncements
Accounting Pronouncements	2. Accounting Pronouncements Recently Adopted Accounting Standards New Lease Accounting Guidance In February 2016, lease accounting guidance was issued which, for operating leases, will require a lessee to recognize a right-of-use (ROU) asset and a lease liability. 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. On January 1, 2019, Ball adopted the new guidance and all related amendments (the new lease standard), applying the modified retrospective method to all contracts that were not completed as of January 1, 2019. As such, comparative information has not been restated and continues to be reported under the accounting standards in effect for those prior periods. As part of adopting the new lease standard, Ball has made the following elections: · To carry forward the historical lease determination and classification conclusions as established under the old standard, and not reassess initial direct costs for existing leases; · To carry forward its historical accounting treatment for land easements on existing agreements; · Not to apply the balance sheet recognition requirements of the new lease standard to leases with a term of one year or less (short-term leases); and · For all classes of underlying assets, to account for non-lease components of a contract as part of the single lease component to which they are related. The adoption of the new lease standard results in the following impacts on our unadutied consolidated balance sheets: ($ in millions) Balance at December 31, 2018 Adjustments Due to Adoption Balance at January 1, 2019 Assets: Other current assets $ 140 $ (1) $ 139 Operating lease right-of-use assets (a) — 244 244 Other assets 1,409 (25) 1,384 Liabilities: Other current liabilities $ 492 $ (3) $ 489 Current operating lease liabilities (b) — 53 53 Other liabilities 287 (14) 273 Noncurrent operating lease liabilities (b) — 182 (a) Operating lease right-of-use assets are recognized within other assets in Ball’s unaudited condensed consolidated balance sheets. (b) Current and noncurrent operating lease liabilities are recognized within other current liabilities and other liabilities, respectively, in Ball’s unaudited condensed consolidated balance sheets. Ball’s adoption of the new lease standard had an immaterial impact on Ball’s results of operations in the unaudited condensed consolidated statements of earnings; an immaterial impact on Ball’s cash flows from operating, financing, and investing activities in the unaudited condensed consolidated statements of cash flows and no impact on Ball’s opening retained earnings balance. Ball’s accounting for finance leases remains substantially unchanged as a result of the adoption. See Note 14 for further details regarding Ball’s leases. 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. Ball adopted this guidance on January 1, 2019, and an election was made to reclassify on the first day of the period of adoption. The total tax amount reclassified was $79 million. Remaining stranded tax amounts in accumulated other comprehensive income, which are not related to the U.S. Tax Cuts and Jobs Act, are not significant and will be reclassified to the income statement when the activity leading to the deferral of gains and losses has ceased in full. New Accounting Guidance 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 also 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. Financial Assets In June 2016 and April 2019, 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 is expected to primarily affect Ball’s trade receivables; however, the guidance applies to other financial assets as well. The guidance is effective for Ball on January 1, 2020. The company has established a cross-functional team which is assessing the impact that the adoption of this new guidance will have on its consolidated financial statements.

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2019
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 Pacific) 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. Summary of Business by Segment Three Months Ended March 31, ($ in millions) 2019 2018 Net sales Beverage packaging, North and Central America $ 1,131 $ 1,035 Beverage packaging, South America 441 459 Beverage packaging, Europe 638 609 Aerospace 328 264 Reportable segment sales 2,538 2,367 Other 247 418 Net sales $ 2,785 $ 2,785 Comparable operating earnings Beverage packaging, North and Central America $ 118 $ 113 Beverage packaging, South America 68 98 Beverage packaging, Europe 64 60 Aerospace 30 25 Reportable segment comparable operating earnings 280 296 Reconciling items Other (a) (5) 4 Business consolidation and other activities (14) (30) Amortization of acquired Rexam intangibles (40) (44) Earnings before interest and taxes 221 226 Interest expense (77) (73) Debt refinancing and other costs (4) (1) Total interest expense (81) (74) Earnings before taxes $ 140 $ 152 (a) Includes undistributed corporate expenses, net, of $23 million and $22 million for the three months ended March 31, 2019 and 2018, 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	3 Months Ended
	Mar. 31, 2019
Acquisitions and Dispositions
Acquisitions and Dispositions	4. Acquisitions and Dispositions Beverage Packaging China In December 2018, the company announced an agreement to sell its metal beverage packaging business in China for consideration of approximately $225 million, plus potential additional consideration related to the relocation of an existing facility in China in the coming years. The transaction received all necessary antitrust approvals during the first quarter of 2019 and, accordingly, the assets and liabilities of the China beverage packaging business are presented as held for sale as of March 31, 2019. The transaction is expected to close during the second half of 2019. Prior to the reclassification of the China beverage packaging business assets and liabilities to held for sale, the company assessed the carrying value of certain working capital balances and then conducted an impairment test of the goodwill and other long-lived assets of the China beverage packaging business. Upon reclassification of the assets and liabilities to held for sale, the carrying value of the disposal group as a whole was compared to the fair value of the business less costs to sell. The approach to establish fair value was consistent with that outlined in the critical accounting policy for “Recoverability of Goodwill and Intangible Assets” in our Form 10-K for the year ended December 31, 2018. No impairment or other adjustments were required as a result of these impairment assessments. The company has not provided any deferred tax impact in the financial statements for the income tax consequences that may arise when the sale is completed in a future reporting period. The following table summarizes the assets and liabilities of the China beverage packaging business presented as held for sale: ($ in millions) March 31, 2019 Assets: Cash $ 63 Receivables 100 Inventories 39 Property, plant and equipment 174 Goodwill 51 Other assets 18 Assets held for sale $ 445 Liabilities: Accounts payable $ 141 Accrued employee costs 6 Other current liabilities 26 Liabilities held for sale $ 173 U.S. Steel Food and Steel Aerosol Business 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 completed as of December 31, 2018, as well as a 49 percent ownership interest in Ball Metalpack. This investment is reported in other assets as an equity method investment in 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 $41 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 of the sold business 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, which expired on December 31, 2018, and agreements to provide transition and other services to Ball Metalpack. At March 31, 2019, and December 31, 2018, Ball was owed $95 million and $170 million, respectively, and Ball owed $4 million and $34 million, respectively, related to the above agreements, which are reported in receivables, net, and accounts payable, respectively, on Ball’s unaudited condensed consolidated balance sheets.

Revenue from Contracts With Cus

Revenue from Contracts With Customers	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer
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. 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 March 31, 2019 Three Months Ended March 31, 2018 ($ in millions) Point in Time Over Time Total Point in Time Over Time Total Total net sales $ 557 $ 2,228 $ 2,785 $ 662 $ 2,123 $ 2,785 Contract Balances The company enters into contracts to sell beverage packaging, aerosol packaging, and aerospace products and services. The company did not have any contract assets at either March 31, 2019, or December 31, 2018. 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 — 8 Balance at December 31, 2018 $ 45 $ 8 Increase 12 2 Balance at March 31, 2019 $ 57 $ 10 During the three months ended March 31, 2019, contract liabilities increased by $14 million, which is net of cash received of $54 million and amounts recognized as sales of $40 million, all of which related to current contract liabilities. The amount of sales recognized in the three months ended March 31, 2019, which were included in the opening contract liabilities balances was $40 million, all of which related to current contract liabilities. 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 $6 million in the three months ended March 31, 2019 from performance obligations satisfied (or partially satisfied) in prior periods. These sales amounts are the result of changes in the transaction price of the company’s contracts with customers. Transaction Price Allocated to Remaining Performance Obligations In the context of the revenue recognition standard, enforceable contracts are those that have an enforceable right to payment, which Ball typically has once a binding forecast or purchase order (or similar evidence) is in place and Ball produces under the contract. Within Ball’s packaging segments, enforceable contracts as defined all have a duration of less than one year. Contracts that have an original duration of less than one year are excluded from the requirement to disclose remaining performance obligations based on the company’s election to use the practical expedient. The table below discloses: (1) the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period for contracts with an original duration of greater than one year, and (2) when the company expects to record sales on these multi-year contracts. ($ in millions) Next Twelve Months Thereafter Total Sales expected to be recognized on multi-year contracts in place as of March 31, 2019 $ 1,230 $ 842 $ 2,072 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.

Business Consolidation and Othe

Business Consolidation and Other Activities	3 Months Ended
	Mar. 31, 2019
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 March 31, ($ in millions) 2019 2018 Beverage packaging, North and Central America $ (1) $ (3) Beverage packaging, South America (1) — Beverage packaging, Europe 1 (10) Other (13) (17) $ (14) $ (30) 2019 Beverage Packaging, North and Central America Charges in the three months ended March 31, 2019, included $1 million of expense for individually insignificant activities. Beverage Packaging, South America Charges in the three months ended March 31, 2019, included $1 million of expense for individually insignificant activities. Beverage Packaging, Europe During the three months ended March 31, 2019, the company recorded credits of $2 million resulting from updated estimates for the costs of employee severance and benefits and facility shutdown costs in connection with the closures of its Recklinghausen, Germany, and San Martino, Italy, plants, which ceased production during the third quarter of 2017 and the fourth quarter of 2018, respectively. Other charges in the three months ended March 31, 2019, included $1 million of expense for individually insignificant activities. Other During the three months ended March 31, 2019, the company recorded the following amounts: · Expense of $13 million for estimated employee severance costs and professional services associated with the planned sale of the China beverage packaging business, which is expected to close during the second half of 2019. · Expense of $4 million for long-term incentive and other compensation arrangements associated with the Rexam acquisition. · Credits of $4 million for individually insignificant activities. 2018 Beverage Packaging, North and Central America During the first quarter of 2018, the company recorded income of $5 million for revised estimates of charges recorded in prior periods 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. The Birmingham facility ceased production during the second quarter of 2018, and the Chatsworth and Longview facilities ceased production during the third quarter of 2018. Ball sold the Chatsworth facility during the fourth quarter of 2018. During the first quarter of 2018, the company recorded charges of $2 million related to the closure of its Reidsville, North Carolina, plant, which ceased production in 2017. Other charges in the first quarter included $6 million for individually insignificant activities. Beverage Packaging, Europe During the first quarter of 2018, the company recorded charges of $4 million for employee severance and benefits and $6 million for 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. Other During the first quarter of 2018, the company recorded expense of $11 million for long-term incentive and other compensation arrangements associated with the Rexam acquisition. Other charges in the first quarter included $6 million for individually insignificant activities.

Supplemental Cash Flow Statemen

Supplemental Cash Flow Statement Disclosures	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Statement Disclosures
Cash and Cash Equivalents Disclosure [Text Block]	7. March 31, ($ in millions) 2019 2018 Beginning of period: Cash and cash equivalents $ 721 $ 448 Current restricted cash (included in other current assets) 7 10 Noncurrent restricted cash (included in other assets) — 1 Total cash, cash equivalents and restricted cash $ 728 $ 459 End of period: Cash and cash equivalents $ 603 $ 477 Current restricted cash (included in other current assets) 6 8 Noncurrent restricted cash (included in other assets) — 1 Cash reported in assets held for sale 63 — Total cash, cash equivalents and restricted cash $ 672 $ 486 The company’s restricted cash is primarily related to receivables factoring programs and represents amounts collected from customers that have not yet been 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 $83 million at March 31, 2019, and $127 million at December 31, 2018. Financing activities in the three months ended March 31, 2019, include the cash settlement of treasury stock repurchases totaling $16 million which were included in the consolidated statement of equity as of December 31, 2018, but not yet settled.

Receivables, Net

Receivables, Net	3 Months Ended
	Mar. 31, 2019
Receivables, Net
Receivables, Net	8. Receivables, Net March 31, December 31, ($ in millions) 2019 2018 Trade accounts receivable $ 958 $ 812 Unbilled receivables 477 478 Less allowance for doubtful accounts (9) (10) Net trade accounts receivable 1,426 1,280 Other receivables 459 522 $ 1,885 $ 1,802 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 $1.2 billion at March 31, 2019, and December 31, 2018. A total of $192 million and $178 million were available for sale under these programs as of March 31, 2019, and December 31, 2018, respectively. Other receivables include income and sales tax receivables, related party receivables and other miscellaneous receivables. See Note 4 for further details of related party receivables.

Inventories, Net

Inventories, Net	3 Months Ended
	Mar. 31, 2019
Inventories, Net
Inventories, Net	9. Inventories, Net March 31, December 31, ($ in millions) 2019 2018 Raw materials and supplies $ 690 $ 727 Work-in-process and finished goods 656 614 Less inventory reserves (71) (70) $ 1,275 $ 1,271

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment, Net.
Property, Plant and Equipment, Net	10. Property, Plant and Equipment, Net March 31, December 31, ($ in millions) 2019 2018 Land $ 159 $ 159 Buildings 1,306 1,359 Machinery and equipment 5,069 5,250 Construction-in-progress 510 509 7,044 7,277 Accumulated depreciation (2,684) (2,735) $ 4,360 $ 4,542 Depreciation expense amounted to $122 million and $125 million for the three months ended March 31, 2019 and 2018, respectively.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets, Net
Goodwill	11. Goodwill ($ in millions) Beverage Beverage Beverage Aerospace Other Total Balance at December 31, 2018 $ 1,275 $ 1,299 $ 1,435 $ 40 $ 426 $ 4,475 Transfer to assets held for sale — — — — (51) (51) Effects of currency exchange — — (12) — (2) (14) Balance at March 31, 2019 $ 1,275 $ 1,299 $ 1,423 $ 40 $ 373 $ 4,410 The company’s annual goodwill impairment test completed in the fourth quarter of 2018 indicated the fair value of the metal beverage packaging, Asia Pacific (beverage Asia Pacific), and beverage packaging, AMEA (beverage AMEA), reporting units exceeded their carrying amounts by approximately 11 percent and 15 percent, respectively. 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 Pacific reporting unit. The worsening business climate in Saudi Arabia has resulted in negative impacts to the profitability of our beverage AMEA reporting unit. If it becomes an expectation that these situations will continue for an extended period of time, the company may be required to record noncash impairment charges for some or all of the goodwill associated with the beverage Asia Pacific and beverage AMEA reporting units, the total balances of which were $78 million and $101 million, respectively, at March 31, 2019. Of the goodwill associated with the beverage Asia Pacific reporting unit, $51 million relates to the China beverage packaging business and is reported in assets held for sale at March 31, 2019. The goodwill balance of $27 million within the beverage Asia Pacific reporting unit not reported in assets held for sale relates to the remaining business of beverage Asia Pacific. See Note 4 for further details regarding Ball’s planned sale of its metal beverage packaging business in China.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets, Net
Intangible Assets, Net	12. Intangible Assets, Net March 31, December 31, ($ in millions) 2019 2018 Acquired Rexam intangibles (net of accumulated amortization of $439 million at March 31, 2019, and $399 million at December 31, 2018) $ 2,030 $ 2,073 Capitalized software (net of accumulated amortization of $154 million at March 31, 2019, and $148 million at December 31, 2018) 78 82 Other intangibles (net of accumulated amortization of $109 million at March 31, 2019, and $112 million at December 31, 2018) 29 33 $ 2,137 $ 2,188 Total amortization expense of intangible assets amounted to $48 million and $55 million for the three months ended March 31, 2019 and 2018, respectively.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2019
Other Assets..
Other Assets.	13. Other Assets March 31, December 31, ($ in millions) 2019 2018 Long-term deferred tax assets $ 198 $ 237 Long-term pension assets 579 559 Investments in affiliates 285 302 Right-of-use operating lease assets 236 — Company and trust-owned life insurance 167 152 Other 152 159 $ 1,617 $ 1,409

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases
Leases	14. Leases Under the new lease standard, a contract is a lease or contains one when (1) the contract contains an explicitly or implicitly identified asset and (2) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract in exchange for consideration. We assess whether an arrangement is a lease, or contains a lease, upon inception of the contract. The company enters into operating leases for buildings, warehouses, office equipment, production equipment, aircraft, land and other types of equipment. When readily determinable, the discount rate used to calculate the lease liability is the rate implicit in the lease. Otherwise, the company uses its incremental borrowing rate based on the information available at lease commencement. The company’s finance and short-term leases are immaterial. Many of the company’s leases include one or more renewal and/or termination options at the company’s discretion, which are included in the determination of the lease term if the company is reasonably certain to exercise the option. The company also enters into lease agreements that have variable payments, such as those related to usage or adjustments to certain indexes. Variable lease payments are recognized in the period in which those payments are incurred. Certain leases also include residual value guarantees; however, these amounts are not probable to be owed and are not included in the calculation of the lease liability. The company subleases all or portions of certain building and warehouse leases to third parties, all of which are classified as operating leases. Some of these arrangements offer the lessee renewal options. The components of lease expense were as follows: Three Months Ended ($ in millions) March 31, 2019 Operating lease expense $ (17) Variable lease expense (2) Sublease income 1 Net lease expense $ (18) Supplemental cash flow information related to leases was as follows: Three Months Ended ($ in millions) March 31, 2019 Cash paid for amounts included in the measurements of lease liabilities - Operating cash flows from operating leases $ (16) ROU assets obtained in exchange for operating lease obligations 10 Supplemental balance sheet information related to operating leases was as follows: ($ in millions) Balance Sheet Location March 31, 2019 Operating lease ROU asset Other assets $ 236 Current operating lease liabilities Other current liabilities 54 Noncurrent operating lease liabilities Other liabilities 181 Weighted average remaining lease term and weighted average discount rate for the company’s operating leases were as follows: March 31, 2019 Weighted average remaining lease term in years Weighted average discount rate % Maturities of lease liabilities are as follows: ($ in millions) Operating Leases 2019 (excluding the three months ended March 31, 2019) $ 47 2020 51 2021 42 2022 36 2023 27 Thereafter 89 Future value of lease liabilities 292 Less: Imputed interest (57) Present value of lease liabilities $ 235 Total noncancellable operating leases in effect at December 31, 2018, as reported under previous lease accounting guidance, require rental payments of the following amounts in each of the following periods: ($ in millions) 2019 $ 66 2020 52 2021 41 2022 34 2023 25 Thereafter 87 Total future lease payments $ 305

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt
Debt	15. Debt Long-term debt consisted of the following: March 31, December 31, ($ in millions) 2019 2018 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 785 803 5.00% due March 2022 750 750 4.875% due March 2026 750 750 3.50%, euro denominated, due December 2020 449 459 Senior Credit Facility (at variable rates) Term A loan, due March 2024 797 797 U.S. dollar revolver due March 2024 at variable rate 260 — Other (including debt issuance costs) (44) (41) 6,747 6,518 Less: Current portion of long-term debt (28) (8) $ 6,719 $ 6,510 On March 25, 2019, the company refinanced its existing credit facilities with a U.S. dollar revolving facility, a multicurrency revolving facility and a U.S. dollar term loan facility that mature in March 2024 and provide the company with up to the U.S. dollar equivalent of $2.55 billion. At March 31, 2019, taking into account outstanding letters of credit, approximately $1.45 billion was available under the company’s existing long-term, revolving credit facilities. In addition to these facilities, the company had approximately $1.1 billion of short-term uncommitted credit facilities available at March 31, 2019, of which $371 million was outstanding and due on demand. At December 31, 2018, the company had $211 million outstanding under short-term uncommitted credit facilities. The fair value of long-term debt was estimated to be $7.0 billion at March 31, 2019, and $6.6 billion at December 31, 2018. 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 $39 million at March 31, 2019, and $28 million at December 31, 2018. The company’s senior notes and senior credit facilities are guaranteed on a full, unconditional and joint and several basis by certain of its 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 22 for further details about the company’s debt guarantees and Note 23 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 4.5 times at March 31, 2019. The company was in compliance with all loan agreements and debt covenants at March 31, 2019, and December 31, 2018, and has met all debt payment obligations.

Taxes on Income

Taxes on Income	3 Months Ended
	Mar. 31, 2019
Taxes on Income
Taxes on Income	16. Taxes on Income As compared to the statutory tax rate, the effective tax rate for the three months ended March 31, 2019, was reduced by 11.3 percentage points for the discrete impact of share-based compensation, increased by 1.1 percentage points for the impact of global intangible low-taxed income (GILTI) net of foreign derived intangible income (FDII), reduced by 2.7 percentage points for the equity in results of affiliates loss and reduced by 1.0 percentage points for federal tax credits.

Employee Benefit Obligations

Employee Benefit Obligations	3 Months Ended
	Mar. 31, 2019
Employee Benefit Obligations
Employee Benefit Obligations	17. Employee Benefit Obligations March 31, December 31, ($ in millions) 2019 2018 Underfunded defined benefit pension liabilities $ 973 $ 954 Less: Current portion (24) (25) Long-term defined benefit pension liabilities 949 929 Long-term retiree medical liabilities 163 157 Deferred compensation plans 329 291 Other 38 78 $ 1,479 $ 1,455 Components of net periodic benefit cost associated with the company’s defined benefit pension plans were: Three Months Ended March 31, 2019 2018 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 12 $ 3 $ 15 $ 13 $ 4 $ 17 Interest cost 25 18 43 24 18 42 Expected return on plan assets (28) (28) (56) (27) (27) (54) Amortization of prior service cost — 1 1 — — — Recognized net actuarial loss 6 1 7 10 1 11 Total net periodic benefit cost $ 15 $ (5) $ 10 $ 20 $ (4) $ 16 Non-service pension income totaling $6 million and $1 million for the three months ended March 31, 2019 and 2018, respectively, is included in selling, general, and administrative (SG&A) expenses. Contributions to the company’s defined benefit pension plans were $6 million in the first three months of 2019 compared to $8 million in the first three months of 2018, and such contributions are expected to be in the range of $92 million for the full year of 2019. This estimate may change based on changes to the U.S. Pension Protection Act and actual plan asset performance, among other factors.

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Earnings	3 Months Ended
	Mar. 31, 2019
Equity and Accumulated Other Comprehensive Earnings
Equity and Accumulated Other Comprehensive Earnings	18. Equity and Accumulated Other Comprehensive Earnings The following tables provide additional details of the company’s equity activity: Ball Corporation and Subsidiaries Common Stock Treasury Stock Accumulated Other Number of Number of Retained Comprehensive Noncontrolling Total ($ in millions; share amounts in thousands) Shares Amount Shares Amount Earnings Earnings (Loss) Interest Equity Balance at December 31, 2018 673,237 $ 1,157 (337,979) $ (2,205) $ 5,341 $ (835) $ 104 $ 3,562 Net earnings — — — — 117 — — 117 Other comprehensive earnings (loss), net of tax — — — — — 125 — 125 Reclassification of stranded tax effects — — — — 79 (79) — — Common dividends, net of tax benefits — — — — (34) — — (34) Treasury stock purchases — — (2,634) (129) — — — (129) Treasury shares reissued — — 390 5 — — — 5 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 1,455 (3) — — — — — (3) Other activity — — — 6 1 — (1) 6 Balance at March 31, 2019 674,692 $ 1,154 (340,223) $ (2,323) $ 5,504 $ (789) $ 103 $ 3,649 Ball Corporation and Subsidiaries Common Stock Treasury Stock Accumulated Other Number of Number of Retained Comprehensive Noncontrolling Total ($ in millions; share amounts in thousands) Shares Amount Shares Amount Earnings Earnings (Loss) Interest Equity Balance at December 31, 2017, as adjusted 670,576 1,084 (320,695) (1,474) 5,024 (655) 105 4,084 Net earnings — — — — 125 — — 125 Other comprehensive earnings (loss), net of tax — — — — — (17) — (17) Common dividends, net of tax benefits — — — — (35) — — (35) Treasury stock purchases — — (1,040) (41) — — — (41) Treasury shares reissued — — 300 5 — — — 5 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 1,035 16 — — — — — 16 Other activity — — — 2 — (1) — 1 Balance at March 31, 2018 671,611 1,100 (321,435) (1,508) 5,114 (673) 105 4,138 On January 23, 2019, the Board authorized the repurchase by the company of up to a total of 50 million shares. This repurchase authorization replaced all previous authorizations. Accumulated Other Comprehensive Earnings (Loss) The activity related to accumulated other comprehensive earnings (loss) was as follows: ($ in millions) Foreign Currency Translation (Net of Tax) Pension and Other Postretirement Benefits (Net of Tax) Derivatives Designated as Hedges (Net of Tax) Accumulated Other Comprehensive Earnings (Loss) Balance at December 31, 2018 $ (504) $ (277) $ (54) $ (835) Other comprehensive earnings (loss) before reclassifications 78 21 40 139 Amounts reclassified from accumulated other comprehensive earnings (loss) into earnings — 4 (18) (14) Stranded tax effects reclassified into retained earnings — (76) (3) (79) Balance at March 31, 2019 $ (426) $ (328) $ (35) $ (789) The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive earnings (loss): Three Months Ended March 31, ($ in millions) 2019 2018 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ 2 $ (3) Commodity contracts recorded in cost of sales (5) 10 Currency exchange contracts recorded in selling, general and administrative 23 (29) Cross-currency swaps recorded in interest expense 4 3 Total before tax effect 24 (19) Tax benefit (expense) on amounts reclassified into earnings (6) 5 Recognized gain (loss), net of tax $ 18 $ (14) Amortization of pension and other postretirement benefits: (a) Actuarial gains (losses) (5) (9) Total before tax effect (5) (9) Tax benefit (expense) on amounts reclassified into earnings 1 2 Recognized gain (loss), net of tax $ (4) $ (7) (a) The pension components are included in the computation of net periodic benefit cost disclosed in Note 17.

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	3 Months Ended
	Mar. 31, 2019
Earnings and Dividends Per Share
Earnings and Dividends Per Share	19. Earnings and Dividends Per Share Three Months Ended March 31, ($ in millions, except per share amounts; shares in thousands) 2019 2018 Net earnings attributable to Ball Corporation $ 117 $ 125 Basic weighted average common shares 334,239 350,215 Effect of dilutive securities 8,437 7,337 Weighted average shares applicable to diluted earnings per share 342,676 357,552 Per basic share $ 0.35 $ 0.36 Per diluted share $ 0.34 $ 0.35 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 1 million and 5 million for the three months ended March 31, 2019 and 2018, respectively. The company declared and paid dividends of $0.10 per share in the first quarters of 2019 and 2018. On April 24, 2019, Ball’s board of directors increased the company’s quarterly common share dividend by 50 percent to 15 cents per share, which will be effective for the next quarterly dividend to be paid to on June 17, 2019, to shareholders of record as of June 3, 2019.

Financial Instruments and Risk

Financial Instruments and Risk Management	3 Months Ended
	Mar. 31, 2019
Financial Instruments and Risk Management
Financial Instruments and Risk Management	20. Financial Instruments and Risk Management Policies and Procedures 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 March 31, 2019, the company had aluminum contracts limiting its aluminum exposure with notional amounts of approximately $1.3 billion, of which $1.1 billion received hedge accounting treatment. Cash flow hedges relate to forecasted transactions that will occur within the next three years. Included in shareholders’ equity at March 31, 2019, within accumulated other comprehensive earnings (loss), is a net after-tax loss of $17 million associated with these contracts. A net after-tax loss of $17 million is expected to be recognized in the consolidated statement of earnings during the next 12 months, the majority of which will be offset by pricing changes in sales and purchase contracts, thus resulting in little or no earnings impact to Ball. 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 March 31, 2019, the company had outstanding interest rate swap and option contracts with notional amounts of approximately $921 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. At March 31, 2019, the company had outstanding exchange rate forward and option contracts with notional amounts totaling approximately $1.6 billion. Approximately $2 million of net after-tax loss related to these contracts is included in accumulated other comprehensive earnings at March 31, 2019, substantially all of which is expected to be recognized in the unaudited condensed consolidated statement of earnings during the next 12 months. The contracts outstanding at March 31, 2019, expire within the next year. 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 $16 million of net after-tax loss related to this contract is included in accumulated other comprehensive earnings at March 31, 2019, 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 two 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 March 2020 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 March 31, 2019, and December 31, 2018, the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position was $20 million and $46 million, respectively, and no collateral was required to be posted. Fair Value Measurements The company has classified all applicable financial derivative assets and liabilities as Level 2 within the fair value hierarchy as of March 31, 2019, and December 31, 2018, and those values are presented in the tables below. The company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. March 31, 2019 ($ in millions) Balance Sheet Location Derivatives Derivatives not Total Assets: Commodity contracts $ 7 $ — $ 7 Foreign currency contracts 1 21 22 Cross-currency and other contracts — 3 3 Total current derivative contracts Other current assets $ 8 $ 24 $ 32 Commodity contracts $ 2 $ — $ 2 Total noncurrent derivative contracts Other noncurrent assets $ 2 $ — $ 2 Liabilities: Commodity contracts $ 29 $ 4 $ 33 Foreign currency contracts — 1 1 Total current derivative contracts Other current liabilities $ 29 $ 5 $ 34 Cross-currency and other contracts $ 27 — $ 27 Total noncurrent derivative contracts Other noncurrent liabilities $ 27 $ — $ 27 December 31, 2018 Derivatives Derivatives not Total Assets: Commodity contracts $ 9 $ 1 $ 10 Foreign currency contracts — 21 21 Cross-currency and other contracts — 5 5 Total current derivative contracts Other current assets $ 9 $ 27 $ 36 Liabilities: Commodity contracts $ 42 $ 11 $ 53 Foreign currency contracts 2 4 6 Cross-currency and other contracts 1 2 3 Total current derivative contracts Other current liabilities $ 45 $ 17 $ 62 Commodity contracts $ 2 $ — $ 2 Cross-currency and other contracts 62 — 62 Total noncurrent derivative contracts Other noncurrent liabilities $ 64 $ — $ 64 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 March 31, 2019, 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 March 31, 2019 2018 ($ 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 $ — $ (3) $ 1 Commodity contracts - manage exposure to supplier pricing Cost of sales (5) 1 10 — Foreign currency contracts - manage general exposure with the business Selling, general and administrative — 58 — (11) Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative 23 — (29) — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 4 — 3 — Equity contracts Selling, general and administrative — 30 — 4 Total $ 24 $ 89 $ (19) $ (6) The changes in accumulated other comprehensive earnings (loss) for derivatives designated as hedges were as follows: Three Months Ended March 31, ($ in millions) 2019 2018 Amounts reclassified into earnings: Commodity contracts $ 3 $ (7) Cross-currency swap contracts (27) 26 Change in fair value of cash flow hedges: Commodity contracts 14 (30) Cross-currency swap contracts 43 (39) Currency exchange contracts (2) (1) Foreign currency and tax impacts (9) 8 Stranded tax effects reclassified into retained earnings: Commodity contracts 2 — Cross-currency swap contracts (5) — $ 19 $ (43)

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2019
Contingencies
Contingencies	21. 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 $29 million in the aggregate, and such amounts have been included in other current liabilities and other noncurrent liabilities at March 31, 2019. 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 (the Court) 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’s U.S. subsidiary, Rexam Beverage Can Company (RBCC). Such discovery began during the first half of 2017 and concluded in the fourth quarter of 2018. The parties attempted to mediate the case on August 1, 2017, but no progress was made, and the case continued as scheduled. In December, 2018, BMBCC and RBCC filed a motion for summary judgment that the Crown patents at issue are invalid and that the applicable ends supplied by BMBCC and RBCC did not infringe the patents. Crown did not file a motion for summary judgment. Oral argument on the motion filed by BMBCC and RBCC was completed in January 2019. A trial date has been re-set for July 2019, although this setting may be removed and the trial delayed based on the summary judgment filing, so as to allow the Court to give full consideration to the motion. 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 a French company CATIDOM (operating as Reboul). Reboul vacated the site in September 2014, and the site reverted back to Rexam during the first quarter of 2015. As part of the site closure regulatory requirements, a new regulatory permit (Prefectoral Order) was issued in June 2016, which includes requirements to undertake a cost-benefit analysis and pilot studies of further treatment for the known residual solvent contamination following the shutdown of the current on-site treatment system. A new management plan was proposed to the French Environmental Authorities (DREAL) during 2018 and will be the subject of further discussions in 2019 before a final plan for the site is addressed. 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 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 but not yet remitted by our subsidiaries to be realizable. 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 become realizable.

Indemnifications and Guarantees

Indemnifications and Guarantees	3 Months Ended
	Mar. 31, 2019
Indemnifications and Guarantees
Indemnifications and Guarantees	22. 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 Rexam acquisition, 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 23. 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	3 Months Ended
	Mar. 31, 2019
Subsidiary Guarantees of Debt
Subsidiary Guarantee of Debt	23. 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 March 31, 2019, and December 31, 2018, and for the three months ended March 31, 2019 and 2018. 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 March 31, 2019 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,549 $ 1,435 $ (199) $ 2,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,324) (1,128) 199 (2,253) Depreciation and amortization (1) (48) (121) — (170) Selling, general and administrative (24) (54) (49) — (127) Business consolidation and other activities (6) 2 (10) — (14) Equity in results of subsidiaries 136 20 — (156) — Intercompany 61 (33) (28) — — 166 (1,437) (1,336) 43 (2,564) Earnings (loss) before interest and taxes 166 112 99 (156) 221 Interest expense (78) 2 (1) — (77) Debt refinancing and other costs (4) — — — (4) Total interest expense (82) 2 (1) — (81) Earnings (loss) before taxes 84 114 98 (156) 140 Tax (provision) benefit 33 (21) (22) — (10) Equity in results of affiliates, net of tax — (16) 3 — (13) Net earnings (loss) 117 77 79 (156) 117 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Ball Corporation $ 117 $ 77 $ 79 $ (156) $ 117 Comprehensive earnings (loss) attributable to Ball Corporation $ 242 $ 242 $ 185 $ (427) $ 242 Unaudited Condensed Consolidating Statement of Earnings Three Months Ended March 31, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,535 $ 1,432 $ (182) $ 2,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,306) (1,113) 182 (2,237) Depreciation and amortization (1) (52) (127) — (180) Selling, general and administrative (34) (41) (37) — (112) Business consolidation and other activities (13) (6) (11) — (30) Equity in results of subsidiaries 162 34 5 (201) — Intercompany 82 (42) (40) — — 196 (1,413) (1,323) (19) (2,559) Earnings (loss) before interest and taxes 196 122 109 (201) 226 Interest expense (76) 3 — — (73) Debt refinancing and other costs (1) — — — (1) Total interest expense (77) 3 — — (74) Earnings (loss) before taxes 119 125 109 (201) 152 Tax (provision) benefit 6 (17) (23) — (34) Equity in results of affiliates, net of tax — 3 4 — 7 Net earnings (loss) 125 111 90 (201) 125 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Ball Corporation $ 125 $ 111 $ 90 $ (201) $ 125 Comprehensive earnings (loss) attributable to Ball Corporation $ 108 $ 108 $ 89 $ (197) $ 108 Condensed Consolidating Balance Sheet March 31, 2019 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 14 $ — $ 589 $ — $ 603 Receivables, net 4 658 1,223 — 1,885 Intercompany receivables 90 490 1,674 (2,254) — Inventories, net — 559 716 — 1,275 Other current assets 59 31 94 — 184 Assets held for sale — 4 448 — 452 Total current assets 167 1,742 4,744 (2,254) 4,399 Noncurrent assets Property, plant and equipment, net 28 1,390 2,942 — 4,360 Investment in subsidiaries 11,392 3,913 (99) (15,206) — Goodwill — 1,191 3,219 — 4,410 Intangible assets, net 18 401 1,718 — 2,137 Other assets 262 293 1,062 — 1,617 Total assets $ 11,867 $ 8,930 $ 13,586 $ (17,460) $ 16,923 Liabilities and Equity Current liabilities Short-term debt and current portion of long-term debt $ 336 $ — $ 63 $ — $ 399 Accounts payable 18 1,022 1,699 — 2,739 Intercompany payables 2,307 65 488 (2,860) — Accrued employee costs 40 94 90 — 224 Other current liabilities 125 139 236 — 500 Liabilities held for sale — — 173 — 173 Total current liabilities 2,826 1,320 2,749 (2,860) 4,035 Noncurrent liabilities Long-term debt 6,713 — 6 — 6,719 Employee benefit obligations 897 295 287 — 1,479 Intercompany long-term notes (1,977) 113 1,258 606 — Deferred taxes (247) 244 628 — 625 Long-term deferred tax and other liabilities 109 119 188 — 416 Total liabilities 8,321 2,091 5,116 (2,254) 13,274 Common stock 1,154 2,523 5,319 (7,842) 1,154 Preferred stock — — 5 (5) — Retained earnings 5,504 4,815 3,398 (8,213) 5,504 Accumulated other comprehensive earnings (loss) (789) (499) (355) 854 (789) Treasury stock, at cost (2,323) — — — (2,323) Total Ball Corporation equity 3,546 6,839 8,367 (15,206) 3,546 Noncontrolling interests — — 103 — 103 Total equity 3,546 6,839 8,470 (15,206) 3,649 Total liabilities and equity $ 11,867 $ 8,930 $ 13,586 $ (17,460) $ 16,923 Condensed Consolidating Balance Sheet December 31, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 4 $ — $ 717 $ — $ 721 Receivables, net 21 613 1,168 — 1,802 Intercompany receivables 66 495 1,657 (2,218) — Inventories, net — 527 744 — 1,271 Other current assets 32 31 77 — 140 Assets held for sale — 4 2 — 6 Total current assets 123 1,670 4,365 (2,218) 3,940 Noncurrent assets Property, plant and equipment, net 24 1,378 3,140 — 4,542 Investment in subsidiaries 11,145 3,779 (99) (14,825) — Goodwill — 1,191 3,284 — 4,475 Intangible assets, net 18 409 1,761 — 2,188 Other assets 213 215 981 — 1,409 Total assets $ 11,523 $ 8,642 $ 13,432 $ (17,043) $ 16,554 Liabilities and Equity Current liabilities Short-term debt and current portion of long-term debt $ 173 $ — $ 46 $ — $ 219 Accounts payable 50 1,178 1,867 — 3,095 Intercompany payables 2,310 49 466 (2,825) — Accrued employee costs 39 144 106 — 289 Other current liabilities 153 119 220 — 492 Total current liabilities 2,725 1,490 2,705 (2,825) 4,095 Noncurrent liabilities Long-term debt 6,504 — 6 — 6,510 Employee benefit obligations 871 286 298 — 1,455 Intercompany long-term notes (1,977) 3 1,368 606 — Deferred taxes (172) 169 648 — 645 Other liabilities 114 45 128 — 287 Total liabilities 8,065 1,993 5,153 (2,219) 12,992 Common stock 1,157 2,523 5,314 (7,837) 1,157 Preferred stock — — 5 (5) — Retained earnings 5,341 4,712 3,316 (8,028) 5,341 Accumulated other comprehensive earnings (loss) (835) (586) (460) 1,046 (835) Treasury stock, at cost (2,205) — — — (2,205) Total Ball Corporation equity 3,458 6,649 8,175 (14,824) 3,458 Noncontrolling interests — — 104 — 104 Total equity 3,458 6,649 8,279 (14,824) 3,562 Total liabilities and equity $ 11,523 $ 8,642 $ 13,432 $ (17,043) $ 16,554 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2019 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (171) $ (53) $ 95 $ (129) Cash flows from investing activities Capital expenditures (4) (72) (78) (154) Business acquisition, net of cash acquired — — — — Other, net 1 — (10) (9) Cash provided by (used in) investing activities (3) (72) (88) (163) Cash flows from financing activities Long-term borrowings 670 — 1 671 Repayments of long-term borrowings (410) — (2) (412) Net change in short-term borrowings 143 — 17 160 Proceeds from issuances of common stock, net of shares used for taxes (4) — — (4) Acquisitions of treasury stock (146) — — (146) Common stock dividends (34) — — (34) Intercompany (25) 125 (100) — Other, net (10) — — (10) Cash provided by (used in) financing activities 184 125 (84) 225 Effect of exchange rate changes on cash — — 11 11 Change in cash, cash equivalents and restricted cash 10 — (66) (56) Cash, cash equivalents and restricted cash – beginning of period 4 — 724 728 Cash, cash equivalents and restricted cash – end of period $ 14 $ — $ 658 $ 672 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2018 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 21 $ (226) $ 131 $ (74) Cash flows from investing activities Capital expenditures (3) (155) (84) (242) Proceeds from dispositions, net of cash sold (45) — — (45) Other, net (2) 2 3 3 Cash provided by (used in) investing activities (50) (153) (81) (284) Cash flows from financing activities Long-term borrowings 1,160 1 1 1,162 Repayments of long-term borrowings (680) (1) (2) (683) Net change in short-term borrowings (89) — 75 (14) Proceeds from issuances of common stock, net of shares used for taxes — — — — Acquisitions of treasury stock (35) — — (35) Common stock dividends (35) — — (35) Intercompany (287) 379 (92) — Other, net (10) — (1) (11) Cash provided by (used in) financing activities 24 379 (19) 384 Effect of exchange rate changes on cash — — 1 1 Change in cash, cash equivalents and restricted cash (5) — 32 27 Cash, cash equivalents and restricted cash – beginning of period 5 — 454 459 Cash, cash equivalents and restricted cash – end of period $ — $ — $ 486 $ 486

Accounting Pronouncements (Poli

Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Pronouncements
Accounting Pronouncements Recently Adopted	Recently Adopted Accounting Standards New Lease Accounting Guidance In February 2016, lease accounting guidance was issued which, for operating leases, will require a lessee to recognize a right-of-use (ROU) asset and a lease liability. 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. On January 1, 2019, Ball adopted the new guidance and all related amendments (the new lease standard), applying the modified retrospective method to all contracts that were not completed as of January 1, 2019. As such, comparative information has not been restated and continues to be reported under the accounting standards in effect for those prior periods. As part of adopting the new lease standard, Ball has made the following elections: · To carry forward the historical lease determination and classification conclusions as established under the old standard, and not reassess initial direct costs for existing leases; · To carry forward its historical accounting treatment for land easements on existing agreements; · Not to apply the balance sheet recognition requirements of the new lease standard to leases with a term of one year or less (short-term leases); and · For all classes of underlying assets, to account for non-lease components of a contract as part of the single lease component to which they are related. The adoption of the new lease standard results in the following impacts on our unadutied consolidated balance sheets: ($ in millions) Balance at December 31, 2018 Adjustments Due to Adoption Balance at January 1, 2019 Assets: Other current assets $ 140 $ (1) $ 139 Operating lease right-of-use assets (a) — 244 244 Other assets 1,409 (25) 1,384 Liabilities: Other current liabilities $ 492 $ (3) $ 489 Current operating lease liabilities (b) — 53 53 Other liabilities 287 (14) 273 Noncurrent operating lease liabilities (b) — 182 (a) Operating lease right-of-use assets are recognized within other assets in Ball’s unaudited condensed consolidated balance sheets. (b) Current and noncurrent operating lease liabilities are recognized within other current liabilities and other liabilities, respectively, in Ball’s unaudited condensed consolidated balance sheets. Ball’s adoption of the new lease standard had an immaterial impact on Ball’s results of operations in the unaudited condensed consolidated statements of earnings; an immaterial impact on Ball’s cash flows from operating, financing, and investing activities in the unaudited condensed consolidated statements of cash flows and no impact on Ball’s opening retained earnings balance. Ball’s accounting for finance leases remains substantially unchanged as a result of the adoption. See Note 14 for further details regarding Ball’s leases. 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. Ball adopted this guidance on January 1, 2019, and an election was made to reclassify on the first day of the period of adoption. The total tax amount reclassified was $79 million. Remaining stranded tax amounts in accumulated other comprehensive income, which are not related to the U.S. Tax Cuts and Jobs Act, are not significant and will be reclassified to the income statement when the activity leading to the deferral of gains and losses has ceased in full.
New Accounting Guidance	New Accounting Guidance 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 also 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. Financial Assets In June 2016 and April 2019, 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 is expected to primarily affect Ball’s trade receivables; however, the guidance applies to other financial assets as well. The guidance is effective for Ball on January 1, 2020. The company has established a cross-functional team which is assessing the impact that the adoption of this new guidance will have on its consolidated financial statements.

Accounting Pronouncements (Tabl

Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Pronouncements
Schedule of impact of adoption of new lease standard on assets and liabilities	($ in millions) Balance at December 31, 2018 Adjustments Due to Adoption Balance at January 1, 2019 Assets: Other current assets $ 140 $ (1) $ 139 Operating lease right-of-use assets (a) — 244 244 Other assets 1,409 (25) 1,384 Liabilities: Other current liabilities $ 492 $ (3) $ 489 Current operating lease liabilities (b) — 53 53 Other liabilities 287 (14) 273 Noncurrent operating lease liabilities (b) — 182 (a) Operating lease right-of-use assets are recognized within other assets in Ball’s unaudited condensed consolidated balance sheets. (b) Current and noncurrent operating lease liabilities are recognized within other current liabilities and other liabilities, respectively, in Ball’s unaudited condensed consolidated balance sheets.

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Business Segment Information
Summary of business by segment	Three Months Ended March 31, ($ in millions) 2019 2018 Net sales Beverage packaging, North and Central America $ 1,131 $ 1,035 Beverage packaging, South America 441 459 Beverage packaging, Europe 638 609 Aerospace 328 264 Reportable segment sales 2,538 2,367 Other 247 418 Net sales $ 2,785 $ 2,785 Comparable operating earnings Beverage packaging, North and Central America $ 118 $ 113 Beverage packaging, South America 68 98 Beverage packaging, Europe 64 60 Aerospace 30 25 Reportable segment comparable operating earnings 280 296 Reconciling items Other (a) (5) 4 Business consolidation and other activities (14) (30) Amortization of acquired Rexam intangibles (40) (44) Earnings before interest and taxes 221 226 Interest expense (77) (73) Debt refinancing and other costs (4) (1) Total interest expense (81) (74) Earnings before taxes $ 140 $ 152 (a) Includes undistributed corporate expenses, net, of $23 million and $22 million for the three months ended March 31, 2019 and 2018, respectively.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2019
Acquisitions and Dispositions
Summary of the assets and liabilities of the China beverage packaging business presented as held for sale	($ in millions) March 31, 2019 Assets: Cash $ 63 Receivables 100 Inventories 39 Property, plant and equipment 174 Goodwill 51 Other assets 18 Assets held for sale $ 445 Liabilities: Accounts payable $ 141 Accrued employee costs 6 Other current liabilities 26 Liabilities held for sale $ 173

Revenue from Contracts With C_2

Revenue from Contracts With Customers (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer
Schedule of the disaggregation of revenue by timing of transfer of control	Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 ($ in millions) Point in Time Over Time Total Point in Time Over Time Total Total net sales $ 557 $ 2,228 $ 2,785 $ 662 $ 2,123 $ 2,785
Schedule of balances of contract liabilities	Contracts Contract Liabilities Liabilities ($ in millions) (Current) (Noncurrent) Balance at December 31, 2017 $ 45 $ — Increase — 8 Balance at December 31, 2018 $ 45 $ 8 Increase 12 2 Balance at March 31, 2019 $ 57 $ 10
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 March 31, 2019 $ 1,230 $ 842 $ 2,072

Business Consolidation and Ot_2

Business Consolidation and Other Activities (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, ($ in millions) 2019 2018 Beverage packaging, North and Central America $ (1) $ (3) Beverage packaging, South America (1) — Beverage packaging, Europe 1 (10) Other (13) (17) $ (14) $ (30)

Supplemental Cash Flow Statem_2

Supplemental Cash Flow Statement Disclosures (Tables)	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Statement Disclosures
Schedule of cash, cash equivalents and restricted cash	March 31, ($ in millions) 2019 2018 Beginning of period: Cash and cash equivalents $ 721 $ 448 Current restricted cash (included in other current assets) 7 10 Noncurrent restricted cash (included in other assets) — 1 Total cash, cash equivalents and restricted cash $ 728 $ 459 End of period: Cash and cash equivalents $ 603 $ 477 Current restricted cash (included in other current assets) 6 8 Noncurrent restricted cash (included in other assets) — 1 Cash reported in assets held for sale 63 — Total cash, cash equivalents and restricted cash $ 672 $ 486

Receivables, Net (Tables)

Receivables, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Receivables, Net
Schedule of receivables	March 31, December 31, ($ in millions) 2019 2018 Trade accounts receivable $ 958 $ 812 Unbilled receivables 477 478 Less allowance for doubtful accounts (9) (10) Net trade accounts receivable 1,426 1,280 Other receivables 459 522 $ 1,885 $ 1,802

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Inventories, Net
Schedule of inventories	March 31, December 31, ($ in millions) 2019 2018 Raw materials and supplies $ 690 $ 727 Work-in-process and finished goods 656 614 Less inventory reserves (71) (70) $ 1,275 $ 1,271

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment, Net.
Schedule of property, plant and equipment	March 31, December 31, ($ in millions) 2019 2018 Land $ 159 $ 159 Buildings 1,306 1,359 Machinery and equipment 5,069 5,250 Construction-in-progress 510 509 7,044 7,277 Accumulated depreciation (2,684) (2,735) $ 4,360 $ 4,542

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets, Net
Schedule of goodwill	($ in millions) Beverage Beverage Beverage Aerospace Other Total Balance at December 31, 2018 $ 1,275 $ 1,299 $ 1,435 $ 40 $ 426 $ 4,475 Transfer to assets held for sale — — — — (51) (51) Effects of currency exchange — — (12) — (2) (14) Balance at March 31, 2019 $ 1,275 $ 1,299 $ 1,423 $ 40 $ 373 $ 4,410

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets, Net
Schedule of Finite-Lived Intangible Assets	March 31, December 31, ($ in millions) 2019 2018 Acquired Rexam intangibles (net of accumulated amortization of $439 million at March 31, 2019, and $399 million at December 31, 2018) $ 2,030 $ 2,073 Capitalized software (net of accumulated amortization of $154 million at March 31, 2019, and $148 million at December 31, 2018) 78 82 Other intangibles (net of accumulated amortization of $109 million at March 31, 2019, and $112 million at December 31, 2018) 29 33 $ 2,137 $ 2,188

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Other Assets..
Schedule of other assets	March 31, December 31, ($ in millions) 2019 2018 Long-term deferred tax assets $ 198 $ 237 Long-term pension assets 579 559 Investments in affiliates 285 302 Right-of-use operating lease assets 236 — Company and trust-owned life insurance 167 152 Other 152 159 $ 1,617 $ 1,409

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases
Schedule of components of lease expense	Three Months Ended ($ in millions) March 31, 2019 Operating lease expense $ (17) Variable lease expense (2) Sublease income 1 Net lease expense $ (18)
Schedule of supplemental cash flow information related to leases	Three Months Ended ($ in millions) March 31, 2019 Cash paid for amounts included in the measurements of lease liabilities - Operating cash flows from operating leases $ (16) ROU assets obtained in exchange for operating lease obligations 10
Schedule of supplemental balance sheet information related to leases	($ in millions) Balance Sheet Location March 31, 2019 Operating lease ROU asset Other assets $ 236 Current operating lease liabilities Other current liabilities 54 Noncurrent operating lease liabilities Other liabilities 181
Schedule of weighted average remaining lease term and weighted average discount rate of operating leases	March 31, 2019 Weighted average remaining lease term in years Weighted average discount rate %
Schedule of the maturities of lease liabilities	($ in millions) Operating Leases 2019 (excluding the three months ended March 31, 2019) $ 47 2020 51 2021 42 2022 36 2023 27 Thereafter 89 Future value of lease liabilities 292 Less: Imputed interest (57) Present value of lease liabilities $ 235
Schedule of noncancelable operating leases	($ in millions) 2019 $ 66 2020 52 2021 41 2022 34 2023 25 Thereafter 87 Total future lease payments $ 305

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt
Schedule of long-term debt	March 31, December 31, ($ in millions) 2019 2018 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 785 803 5.00% due March 2022 750 750 4.875% due March 2026 750 750 3.50%, euro denominated, due December 2020 449 459 Senior Credit Facility (at variable rates) Term A loan, due March 2024 797 797 U.S. dollar revolver due March 2024 at variable rate 260 — Other (including debt issuance costs) (44) (41) 6,747 6,518 Less: Current portion of long-term debt (28) (8) $ 6,719 $ 6,510

Employee Benefit Obligations (T

Employee Benefit Obligations (Tables)	3 Months Ended
	Mar. 31, 2019
Employee Benefit Obligations
Schedule of employee benefit obligations	March 31, December 31, ($ in millions) 2019 2018 Underfunded defined benefit pension liabilities $ 973 $ 954 Less: Current portion (24) (25) Long-term defined benefit pension liabilities 949 929 Long-term retiree medical liabilities 163 157 Deferred compensation plans 329 291 Other 38 78 $ 1,479 $ 1,455
Components of net periodic benefit cost	Three Months Ended March 31, 2019 2018 ($ in millions) U.S. Foreign Total U.S. Foreign Total Ball-sponsored plans: Service cost $ 12 $ 3 $ 15 $ 13 $ 4 $ 17 Interest cost 25 18 43 24 18 42 Expected return on plan assets (28) (28) (56) (27) (27) (54) Amortization of prior service cost — 1 1 — — — Recognized net actuarial loss 6 1 7 10 1 11 Total net periodic benefit cost $ 15 $ (5) $ 10 $ 20 $ (4) $ 16

Equity and Accumulated Other _2

Equity and Accumulated Other Comprehensive Earnings (Tables)	3 Months Ended
	Mar. 31, 2019
Equity and Accumulated Other Comprehensive Earnings
Schedule of company’s equity activity	Ball Corporation and Subsidiaries Common Stock Treasury Stock Accumulated Other Number of Number of Retained Comprehensive Noncontrolling Total ($ in millions; share amounts in thousands) Shares Amount Shares Amount Earnings Earnings (Loss) Interest Equity Balance at December 31, 2018 673,237 $ 1,157 (337,979) $ (2,205) $ 5,341 $ (835) $ 104 $ 3,562 Net earnings — — — — 117 — — 117 Other comprehensive earnings (loss), net of tax — — — — — 125 — 125 Reclassification of stranded tax effects — — — — 79 (79) — — Common dividends, net of tax benefits — — — — (34) — — (34) Treasury stock purchases — — (2,634) (129) — — — (129) Treasury shares reissued — — 390 5 — — — 5 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 1,455 (3) — — — — — (3) Other activity — — — 6 1 — (1) 6 Balance at March 31, 2019 674,692 $ 1,154 (340,223) $ (2,323) $ 5,504 $ (789) $ 103 $ 3,649 Ball Corporation and Subsidiaries Common Stock Treasury Stock Accumulated Other Number of Number of Retained Comprehensive Noncontrolling Total ($ in millions; share amounts in thousands) Shares Amount Shares Amount Earnings Earnings (Loss) Interest Equity Balance at December 31, 2017, as adjusted 670,576 1,084 (320,695) (1,474) 5,024 (655) 105 4,084 Net earnings — — — — 125 — — 125 Other comprehensive earnings (loss), net of tax — — — — — (17) — (17) Common dividends, net of tax benefits — — — — (35) — — (35) Treasury stock purchases — — (1,040) (41) — — — (41) Treasury shares reissued — — 300 5 — — — 5 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 1,035 16 — — — — — 16 Other activity — — — 2 — (1) — 1 Balance at March 31, 2018 671,611 1,100 (321,435) (1,508) 5,114 (673) 105 4,138
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) Derivatives Designated as Hedges (Net of Tax) Accumulated Other Comprehensive Earnings (Loss) Balance at December 31, 2018 $ (504) $ (277) $ (54) $ (835) Other comprehensive earnings (loss) before reclassifications 78 21 40 139 Amounts reclassified from accumulated other comprehensive earnings (loss) into earnings — 4 (18) (14) Stranded tax effects reclassified into retained earnings — (76) (3) (79) Balance at March 31, 2019 $ (426) $ (328) $ (35) $ (789)
Information related to amounts reclassified into net earnings from accumulated other comprehensive earnings (loss)	Three Months Ended March 31, ($ in millions) 2019 2018 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ 2 $ (3) Commodity contracts recorded in cost of sales (5) 10 Currency exchange contracts recorded in selling, general and administrative 23 (29) Cross-currency swaps recorded in interest expense 4 3 Total before tax effect 24 (19) Tax benefit (expense) on amounts reclassified into earnings (6) 5 Recognized gain (loss), net of tax $ 18 $ (14) Amortization of pension and other postretirement benefits: (a) Actuarial gains (losses) (5) (9) Total before tax effect (5) (9) Tax benefit (expense) on amounts reclassified into earnings 1 2 Recognized gain (loss), net of tax $ (4) $ (7) (a) The pension components are included in the computation of net periodic benefit cost disclosed in Note 17.

Earnings and Dividends Per Sh_2

Earnings and Dividends Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings and Dividends Per Share
Schedule of earnings per share	Three Months Ended March 31, ($ in millions, except per share amounts; shares in thousands) 2019 2018 Net earnings attributable to Ball Corporation $ 117 $ 125 Basic weighted average common shares 334,239 350,215 Effect of dilutive securities 8,437 7,337 Weighted average shares applicable to diluted earnings per share 342,676 357,552 Per basic share $ 0.35 $ 0.36 Per diluted share $ 0.34 $ 0.35

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	3 Months Ended
	Mar. 31, 2019
Financial Instruments and Risk Management
Schedule of fair value of derivative instruments	March 31, 2019 ($ in millions) Balance Sheet Location Derivatives Derivatives not Total Assets: Commodity contracts $ 7 $ — $ 7 Foreign currency contracts 1 21 22 Cross-currency and other contracts — 3 3 Total current derivative contracts Other current assets $ 8 $ 24 $ 32 Commodity contracts $ 2 $ — $ 2 Total noncurrent derivative contracts Other noncurrent assets $ 2 $ — $ 2 Liabilities: Commodity contracts $ 29 $ 4 $ 33 Foreign currency contracts — 1 1 Total current derivative contracts Other current liabilities $ 29 $ 5 $ 34 Cross-currency and other contracts $ 27 — $ 27 Total noncurrent derivative contracts Other noncurrent liabilities $ 27 $ — $ 27 December 31, 2018 Derivatives Derivatives not Total Assets: Commodity contracts $ 9 $ 1 $ 10 Foreign currency contracts — 21 21 Cross-currency and other contracts — 5 5 Total current derivative contracts Other current assets $ 9 $ 27 $ 36 Liabilities: Commodity contracts $ 42 $ 11 $ 53 Foreign currency contracts 2 4 6 Cross-currency and other contracts 1 2 3 Total current derivative contracts Other current liabilities $ 45 $ 17 $ 62 Commodity contracts $ 2 $ — $ 2 Cross-currency and other contracts 62 — 62 Total noncurrent derivative contracts Other noncurrent liabilities $ 64 $ — $ 64
Schedule of impact on earnings from derivative instruments	Three Months Ended March 31, 2019 2018 ($ 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 $ — $ (3) $ 1 Commodity contracts - manage exposure to supplier pricing Cost of sales (5) 1 10 — Foreign currency contracts - manage general exposure with the business Selling, general and administrative — 58 — (11) Cross-currency swaps - manage intercompany currency exposure within the business Selling, general and administrative 23 — (29) — Cross-currency swaps - manage intercompany currency exposure within the business Interest expense 4 — 3 — Equity contracts Selling, general and administrative — 30 — 4 Total $ 24 $ 89 $ (19) $ (6)
Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives	Three Months Ended March 31, ($ in millions) 2019 2018 Amounts reclassified into earnings: Commodity contracts $ 3 $ (7) Cross-currency swap contracts (27) 26 Change in fair value of cash flow hedges: Commodity contracts 14 (30) Cross-currency swap contracts 43 (39) Currency exchange contracts (2) (1) Foreign currency and tax impacts (9) 8 Stranded tax effects reclassified into retained earnings: Commodity contracts 2 — Cross-currency swap contracts (5) — $ 19 $ (43)

Subsidiary Guarantees of Debt (

Subsidiary Guarantees of Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Subsidiary Guarantees of Debt
Schedule of Condensed Consolidating Statement of Earnings	Unaudited Condensed Consolidating Statement of Earnings Three Months Ended March 31, 2019 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,549 $ 1,435 $ (199) $ 2,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,324) (1,128) 199 (2,253) Depreciation and amortization (1) (48) (121) — (170) Selling, general and administrative (24) (54) (49) — (127) Business consolidation and other activities (6) 2 (10) — (14) Equity in results of subsidiaries 136 20 — (156) — Intercompany 61 (33) (28) — — 166 (1,437) (1,336) 43 (2,564) Earnings (loss) before interest and taxes 166 112 99 (156) 221 Interest expense (78) 2 (1) — (77) Debt refinancing and other costs (4) — — — (4) Total interest expense (82) 2 (1) — (81) Earnings (loss) before taxes 84 114 98 (156) 140 Tax (provision) benefit 33 (21) (22) — (10) Equity in results of affiliates, net of tax — (16) 3 — (13) Net earnings (loss) 117 77 79 (156) 117 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Ball Corporation $ 117 $ 77 $ 79 $ (156) $ 117 Comprehensive earnings (loss) attributable to Ball Corporation $ 242 $ 242 $ 185 $ (427) $ 242 Unaudited Condensed Consolidating Statement of Earnings Three Months Ended March 31, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Net sales $ — $ 1,535 $ 1,432 $ (182) $ 2,785 Cost and expenses Cost of sales (excluding depreciation and amortization) — (1,306) (1,113) 182 (2,237) Depreciation and amortization (1) (52) (127) — (180) Selling, general and administrative (34) (41) (37) — (112) Business consolidation and other activities (13) (6) (11) — (30) Equity in results of subsidiaries 162 34 5 (201) — Intercompany 82 (42) (40) — — 196 (1,413) (1,323) (19) (2,559) Earnings (loss) before interest and taxes 196 122 109 (201) 226 Interest expense (76) 3 — — (73) Debt refinancing and other costs (1) — — — (1) Total interest expense (77) 3 — — (74) Earnings (loss) before taxes 119 125 109 (201) 152 Tax (provision) benefit 6 (17) (23) — (34) Equity in results of affiliates, net of tax — 3 4 — 7 Net earnings (loss) 125 111 90 (201) 125 Less net earnings attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Ball Corporation $ 125 $ 111 $ 90 $ (201) $ 125 Comprehensive earnings (loss) attributable to Ball Corporation $ 108 $ 108 $ 89 $ (197) $ 108
Schedule of Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet March 31, 2019 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 14 $ — $ 589 $ — $ 603 Receivables, net 4 658 1,223 — 1,885 Intercompany receivables 90 490 1,674 (2,254) — Inventories, net — 559 716 — 1,275 Other current assets 59 31 94 — 184 Assets held for sale — 4 448 — 452 Total current assets 167 1,742 4,744 (2,254) 4,399 Noncurrent assets Property, plant and equipment, net 28 1,390 2,942 — 4,360 Investment in subsidiaries 11,392 3,913 (99) (15,206) — Goodwill — 1,191 3,219 — 4,410 Intangible assets, net 18 401 1,718 — 2,137 Other assets 262 293 1,062 — 1,617 Total assets $ 11,867 $ 8,930 $ 13,586 $ (17,460) $ 16,923 Liabilities and Equity Current liabilities Short-term debt and current portion of long-term debt $ 336 $ — $ 63 $ — $ 399 Accounts payable 18 1,022 1,699 — 2,739 Intercompany payables 2,307 65 488 (2,860) — Accrued employee costs 40 94 90 — 224 Other current liabilities 125 139 236 — 500 Liabilities held for sale — — 173 — 173 Total current liabilities 2,826 1,320 2,749 (2,860) 4,035 Noncurrent liabilities Long-term debt 6,713 — 6 — 6,719 Employee benefit obligations 897 295 287 — 1,479 Intercompany long-term notes (1,977) 113 1,258 606 — Deferred taxes (247) 244 628 — 625 Long-term deferred tax and other liabilities 109 119 188 — 416 Total liabilities 8,321 2,091 5,116 (2,254) 13,274 Common stock 1,154 2,523 5,319 (7,842) 1,154 Preferred stock — — 5 (5) — Retained earnings 5,504 4,815 3,398 (8,213) 5,504 Accumulated other comprehensive earnings (loss) (789) (499) (355) 854 (789) Treasury stock, at cost (2,323) — — — (2,323) Total Ball Corporation equity 3,546 6,839 8,367 (15,206) 3,546 Noncontrolling interests — — 103 — 103 Total equity 3,546 6,839 8,470 (15,206) 3,649 Total liabilities and equity $ 11,867 $ 8,930 $ 13,586 $ (17,460) $ 16,923 Condensed Consolidating Balance Sheet December 31, 2018 ($ in millions) Ball Guarantor Non-Guarantor Eliminating Consolidated Assets Current assets Cash and cash equivalents $ 4 $ — $ 717 $ — $ 721 Receivables, net 21 613 1,168 — 1,802 Intercompany receivables 66 495 1,657 (2,218) — Inventories, net — 527 744 — 1,271 Other current assets 32 31 77 — 140 Assets held for sale — 4 2 — 6 Total current assets 123 1,670 4,365 (2,218) 3,940 Noncurrent assets Property, plant and equipment, net 24 1,378 3,140 — 4,542 Investment in subsidiaries 11,145 3,779 (99) (14,825) — Goodwill — 1,191 3,284 — 4,475 Intangible assets, net 18 409 1,761 — 2,188 Other assets 213 215 981 — 1,409 Total assets $ 11,523 $ 8,642 $ 13,432 $ (17,043) $ 16,554 Liabilities and Equity Current liabilities Short-term debt and current portion of long-term debt $ 173 $ — $ 46 $ — $ 219 Accounts payable 50 1,178 1,867 — 3,095 Intercompany payables 2,310 49 466 (2,825) — Accrued employee costs 39 144 106 — 289 Other current liabilities 153 119 220 — 492 Total current liabilities 2,725 1,490 2,705 (2,825) 4,095 Noncurrent liabilities Long-term debt 6,504 — 6 — 6,510 Employee benefit obligations 871 286 298 — 1,455 Intercompany long-term notes (1,977) 3 1,368 606 — Deferred taxes (172) 169 648 — 645 Other liabilities 114 45 128 — 287 Total liabilities 8,065 1,993 5,153 (2,219) 12,992 Common stock 1,157 2,523 5,314 (7,837) 1,157 Preferred stock — — 5 (5) — Retained earnings 5,341 4,712 3,316 (8,028) 5,341 Accumulated other comprehensive earnings (loss) (835) (586) (460) 1,046 (835) Treasury stock, at cost (2,205) — — — (2,205) Total Ball Corporation equity 3,458 6,649 8,175 (14,824) 3,458 Noncontrolling interests — — 104 — 104 Total equity 3,458 6,649 8,279 (14,824) 3,562 Total liabilities and equity $ 11,523 $ 8,642 $ 13,432 $ (17,043) $ 16,554
Schedule of Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2019 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ (171) $ (53) $ 95 $ (129) Cash flows from investing activities Capital expenditures (4) (72) (78) (154) Business acquisition, net of cash acquired — — — — Other, net 1 — (10) (9) Cash provided by (used in) investing activities (3) (72) (88) (163) Cash flows from financing activities Long-term borrowings 670 — 1 671 Repayments of long-term borrowings (410) — (2) (412) Net change in short-term borrowings 143 — 17 160 Proceeds from issuances of common stock, net of shares used for taxes (4) — — (4) Acquisitions of treasury stock (146) — — (146) Common stock dividends (34) — — (34) Intercompany (25) 125 (100) — Other, net (10) — — (10) Cash provided by (used in) financing activities 184 125 (84) 225 Effect of exchange rate changes on cash — — 11 11 Change in cash, cash equivalents and restricted cash 10 — (66) (56) Cash, cash equivalents and restricted cash – beginning of period 4 — 724 728 Cash, cash equivalents and restricted cash – end of period $ 14 $ — $ 658 $ 672 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2018 ($ in millions) Ball Guarantor Non-Guarantor Consolidated Cash provided by (used in) operating activities $ 21 $ (226) $ 131 $ (74) Cash flows from investing activities Capital expenditures (3) (155) (84) (242) Proceeds from dispositions, net of cash sold (45) — — (45) Other, net (2) 2 3 3 Cash provided by (used in) investing activities (50) (153) (81) (284) Cash flows from financing activities Long-term borrowings 1,160 1 1 1,162 Repayments of long-term borrowings (680) (1) (2) (683) Net change in short-term borrowings (89) — 75 (14) Proceeds from issuances of common stock, net of shares used for taxes — — — — Acquisitions of treasury stock (35) — — (35) Common stock dividends (35) — — (35) Intercompany (287) 379 (92) — Other, net (10) — (1) (11) Cash provided by (used in) financing activities 24 379 (19) 384 Effect of exchange rate changes on cash — — 1 1 Change in cash, cash equivalents and restricted cash (5) — 32 27 Cash, cash equivalents and restricted cash – beginning of period 5 — 454 459 Cash, cash equivalents and restricted cash – end of period $ — $ — $ 486 $ 486

Accounting Pronouncements - Lea

Accounting Pronouncements - Leases (Details) - USD ($) $ in Millions	Jan. 01, 2019	Mar. 31, 2019	Dec. 31, 2018
Lessee Disclosure [Abstract]
Practical expedient package adopted	true
Assets [Abstract]
Other current assets	$ 139	$ 184	$ 140
Operating lease right-of-use assets	$ 244	$ 236
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsMember	us-gaap:OtherAssetsMember
Other assets	$ 1,384
Liabilities [Abstract]
Other current liabilities	489	$ 500	492
Current operating lease liabilities	$ 53	$ 54
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherCurrentLiabilitiesMember	us-gaap:OtherCurrentLiabilitiesMember
Other liabilities	$ 273	$ 416	287
Noncurrent operating lease liabilities	$ 182	$ 181
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherNoncurrentLiabilitiesMember	us-gaap:OtherLiabilitiesMember
Effect of Tax Cuts and Jobs Act of 2017 [Abstract]
Reclassification of stranded tax effects	$ 79
As Previously reported
Assets [Abstract]
Other current assets			140
Other assets			1,409
Liabilities [Abstract]
Other current liabilities			492
Other liabilities			$ 287
ASU 2016-02 | Adjustments Due to Adoption
Assets [Abstract]
Other current assets	(1)
Operating lease right-of-use assets	244
Other assets	(25)
Liabilities [Abstract]
Other current liabilities	(3)
Current operating lease liabilities	53
Other liabilities	(14)
Noncurrent operating lease liabilities	$ 182

Business Segment Information -

Business Segment Information - Summary of Business (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)	Jul. 31, 2018
Business Segment Information
Number of reportable segments | segment	4
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	$ 2,785	$ 2,785
Reconciling items
Other	(5)	4
Business consolidation and other activities	(14)	(30)
Amortization of acquired Rexam intangibles	(48)	(55)
Earnings before interest and taxes	221	226
Interest expense	(77)	(73)
Debt refinancing and other costs	(4)	(1)
Total interest expense	(81)	(74)
Earnings before taxes	140	152
Undistributed corporate expenses	23	22
Operating Segments
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	2,538	2,367
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	280	296
Operating Segments | Beverage packaging, North And Central America
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	1,131	1,035
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	118	113
Reconciling items
Business consolidation and other activities	(1)	(3)
Operating Segments | Beverage packaging, South America
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	441	459
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	68	98
Reconciling items
Business consolidation and other activities	(1)
Operating Segments | Beverage packaging, Europe
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	638	609
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	64	60
Reconciling items
Business consolidation and other activities	1	(10)
Operating Segments | Aerospace
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	328	264
Segment Reporting Information, Operating Income (Loss) [Abstract]
Reportable segment comparable operating earnings	30	25
Other
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Net sales	247	418
Reconciling items
Business consolidation and other activities	(13)	(17)
Rexam
Reconciling items
Amortization of acquired Rexam intangibles	$ (40)	$ (44)
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 ($)Plant	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 13, 2018USD ($)
Assets [Abstract]
Cash		$ 63
Assets held for sale		452	$ 6
Liabilities [Abstract]
Liabilities held for sale		173
Beverage Packaging China | Held-for-sale
Disposition
Consideration for the sale of business				$ 225
Amount of impairment or adjustments required for disposal		0
Assets [Abstract]
Cash		63
Receivables		100
Inventories		39
Property, plant and equipment		174
Goodwill		51
Other assets		18
Assets held for sale		445
Liabilities [Abstract]
Accounts payable		141
Accrued employee costs		6
Other current liabilities		26
Liabilities held for sale		173
US steel food and steel aerosol packaging | Held-for-sale
Disposition
Consideration for the sale of business	$ 600
Loss on sale of disposal group	$ 41
Number of plants sold | Plant	9
Ball Metalpack | Receivables Net
Related party transactions
Accounts receivable from joint venture		95	170
Ball Metalpack | Accounts Payable
Related party transactions
Accounts payable to joint venture		$ 4	$ 34
Ball Metalpack
Disposition
Percentage of ownership in a joint venture	49.00%

Revenue from Contracts With C_3

Revenue from Contracts With Customers - Disaggregation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment	4
Total net sales	$ 2,785	$ 2,785
Point in Time
Disaggregation of Revenue [Line Items]
Total net sales	557	662
Over Time
Disaggregation of Revenue [Line Items]
Total net sales	$ 2,228	$ 2,123

Revenue from Contracts With C_4

Revenue from Contracts With Customers - Contract balances (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Contract with Customer, Asset and Liability [Abstract]
Contract Liabilities (Current)	$ 57	$ 45	$ 45
Contract Liabilities (Noncurrent)	10	8
Increase (decrease) current	12
Increase (decrease) noncurrent	2	$ 8
Increase (decrease) in contract liabilities	14
Cash received on contract liabilities	54
Revenue recognized included in contract liabilities current	40
Revenue recognized from opening balance of contract liabilities	40
Revenue recognized from obligations satisfied or partially satisfied in prior periods	$ 6

Revenue from Contracts With C_5

Revenue from Contracts With Customers - Practical Expedients (Details)	3 Months Ended
	Mar. 31, 2019
Practical expedients
Practical expedient - nondisclosure of transaction price for future performance obligations	true

Revenue from Contracts With C_6

Revenue from Contracts With Customers - Performance obligations (Details) $ in Millions	Mar. 31, 2019USD ($)
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	$ 2,072
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	9 months
Sales expected to be recognized on multi-year contracts in place as of the end of the period	$ 1,230
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
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
Sales expected to be recognized on multi-year contracts in place as of the end of the period	$ 842

Business Consolidation and Ot_3

Business Consolidation and Other Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Business consolidation and other activities
Business consolidation and other activities	$ (14)	$ (30)
Operating Segments | Beverage packaging, North And Central America
Business consolidation and other activities
Business consolidation and other activities	(1)	(3)
Individually insignificant activities	1	6
Reversal of previously recorded expenses related to facilities closure		5
Operating Segments | Beverage packaging, North And Central America | Reidsville, North Carolina facility
Business consolidation and other activities
Charges related to facilities closure		2
Operating Segments | Beverage packaging, South America
Business consolidation and other activities
Business consolidation and other activities	(1)
Individually insignificant activities	1
Operating Segments | Beverage packaging, Europe
Business consolidation and other activities
Business consolidation and other activities	1	(10)
Individually insignificant activities	1
Operating Segments | Beverage packaging, Europe | Employee Severance And Benefits
Business consolidation and other activities
Charges related to facilities closure		4
Operating Segments | Beverage packaging, Europe | Recklinghausen, Germany facility | Facility Shutdown Costs Asset Impairment Accelerated Depreciation And Other Costs
Business consolidation and other activities
Charges related to facilities closure		6
Operating Segments | Beverage packaging, Europe | Recklinghausen, Germany facility | Employee Benefits Severance Facility Shutdown Costs And Other Costs
Business consolidation and other activities
Charges related to facilities closure	2
Other
Business consolidation and other activities
Business consolidation and other activities	(13)	(17)
Individually insignificant activities	4	6
Other | US steel food and steel aerosol packaging | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business consolidation and other activities
Professional services and other costs	13
Other | Rexam
Business consolidation and other activities
Compensation arrangement expense	4	11
Ball Corporation
Business consolidation and other activities
Business consolidation and other activities	$ (6)	$ (13)

Supplemental Cash Flow Statem_3

Supplemental Cash Flow Statement Disclosures (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents	$ 603	$ 721	$ 477	$ 448
Current restricted cash	$ 6	$ 7	$ 8	$ 10
Location of current restricted cash	us-gaap:OtherAssetsCurrent	us-gaap:OtherAssetsCurrent	us-gaap:OtherAssetsCurrent	us-gaap:OtherAssetsCurrent
Noncurrent restricted cash			$ 1	$ 1
Location of noncurrent restricted cash	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Cash reported in assets held for sale	$ 63
Total cash, cash equivalents and restricted cash	672	$ 728	$ 486	$ 459
Other Non-cash items
PP&E acquired but not yet paid	83	$ 127
Cash settlement of treasury stock repurchases from prior period	$ 16

Receivables, Net (Details)

Receivables, Net (Details) - USD ($) $ in Millions	15 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Receivables, Net
Trade accounts receivable	$ 958	$ 812
Unbilled receivables	477	478
Less allowances for doubtful accounts	(9)	(10)
Net trade accounts receivable	1,426	1,280
Other receivables	459	522
Receivables, net	1,885	1,802
Maximum available sale of the accounts receivables under factoring program	1,200
Amount of accounts receivable available for sale under the factoring program	$ 192	$ 178

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Inventories, Net
Raw materials and supplies	$ 690	$ 727
Work-in-process and finished goods	656	614
Less inventory reserves	(71)	(70)
Inventories, net	$ 1,275	$ 1,271

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property, plant and equipment
Property, plant and equipment, gross	$ 7,044		$ 7,277
Accumulated depreciation	(2,684)		(2,735)
Net property, plant and equipment	4,360		4,542
Depreciation expense	122	$ 125
Land
Property, plant and equipment
Property, plant and equipment, gross	159		159
Buildings
Property, plant and equipment
Property, plant and equipment, gross	1,306		1,359
Machinery and equipment
Property, plant and equipment
Property, plant and equipment, gross	5,069		5,250
Construction-in-progress
Property, plant and equipment
Property, plant and equipment, gross	$ 510		$ 509

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Goodwill
Balance at the beginning of the period	$ 4,475
Transfer to assets held for sale	(51)
Effects of currency exchange	(14)
Balance at the end of the period	4,410
Goodwill	4,475	$ 4,475
Beverage Asia Pacific
Goodwill
Balance at the end of the period	78
Percentage of fair value exceeding carrying value		11.00%
Goodwill	78
Goodwill not in assets held for sale	27
Beverage AMEA
Goodwill
Balance at the end of the period	101
Percentage of fair value exceeding carrying value		15.00%
Goodwill	101
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	$ 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	1,299
Beverage packaging, Europe
Goodwill
Balance at the beginning of the period	1,435
Effects of currency exchange	(12)
Balance at the end of the period	1,423
Goodwill	1,435	1,435
Aerospace
Goodwill
Balance at the beginning of the period	40
Balance at the end of the period	40
Goodwill	40	40
Other
Goodwill
Balance at the beginning of the period	426
Transfer to assets held for sale	(51)
Effects of currency exchange	(2)
Balance at the end of the period	373
Goodwill	426	$ 426
Beverage packaging China | Beverage Asia Pacific
Goodwill
Balance at the end of the period	51
Goodwill	$ 51

Intangibles Assets, Net (Detail

Intangibles Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Total annual intangible asset amortization expense
Acquired intangible assets, net of accumulated amortization	$ 29		$ 33
Accumulated amortization	109		112
Capitalized software (net of accumulated amortization)	78		82
Accumulated amortization - capitalized software	154		148
Total intangible assets, net	2,137		2,188
Amortization of Intangible Assets	48	$ 55
Rexam
Total annual intangible asset amortization expense
Acquired intangible assets, net of accumulated amortization	2,030		2,073
Accumulated amortization	439		$ 399
Amortization of Intangible Assets	$ 40	$ 44

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Other assets
Long-term deferred tax assets	$ 198		$ 237
Long-term pension assets	579		559
Investments in affiliates	285		302
Right-of-use operating lease assets	236	$ 244
Company and trust-owned life insurance	167		152
Other	152		159
Other Assets	$ 1,617		$ 1,409

Leases - Components of lease ex

Leases - Components of lease expense (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Leases
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Lessee, Operating Lease, Existence of Option to Terminate [true false]	true
Components of lease expense
Operating lease expense	$ (17)
Variable lease expense	(2)
Sublease income	1
Net lease expense	$ (18)

Leases - Supplemental informati

Leases - Supplemental information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019
Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows from operating leases	$ (16)
ROU assets obtained in exchange for lease obligations:
Operating leases	$ 10
Supplemental balance sheet information
Balance sheet location for assets	us-gaap:OtherAssetsMember	us-gaap:OtherAssetsMember
Operating lease right-of-use assets	$ 236	$ 244
Balance sheet location for current liabilities	us-gaap:OtherCurrentLiabilitiesMember	us-gaap:OtherCurrentLiabilitiesMember
Current operating lease liabilities	$ 54	$ 53
Balance sheet location for non-current liabilities	us-gaap:OtherLiabilitiesMember	us-gaap:OtherNoncurrentLiabilitiesMember
Noncurrent operating lease liabilities	$ 181	$ 182

Leases - Weighted average infor

Leases - Weighted average information (Details)	Mar. 31, 2019
Weighted average information
Weighted average remaining lease term: Operating leases	9 years 8 months 12 days
Weighted average discount rate: Operating leases	4.40%

Leases - Lease liabilities matu

Leases - Lease liabilities maturities (Details) $ in Millions	Mar. 31, 2019USD ($)
Maturities of lease liabilities
2019 (excluding the three months ended March 31, 2019)	$ 47
2020	51
2021	42
2022	36
2023	27
Thereafter	89
Future value of lease liabilities	292
Less: Imputed interest	(57)
Present value of lease liabilities	$ 235

Leases - Noncancelable rental p

Leases - Noncancelable rental payments (Details) $ in Millions	Dec. 31, 2018USD ($)
Future rental payments required under total noncancellable operating leases before Topic 842
2019	$ 66
2020	52
2021	41
2022	34
2023	25
Thereafter	87
Total future lease payments	$ 305

Debt - Long term debt (Details)

Debt - Long term debt (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Long-term debt
Other (including debt issuance costs)	$ (44)	$ (41)
Long-term debt, Total	6,747	6,518
Less: Current portion of long-term debt	(28)	(8)
Long-term debt excluding current maturities	6,719	6,510
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	$ 785	803
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
Long-term debt
Long-term Debt, Gross	$ 750	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	$ 449	459
Interest rate (as a percent)	3.50%
Term A loan, due March 2024
Long-term debt
Long-term Debt, Gross	$ 797	$ 797
U.S. dollar revolver, due March 2024 at variable rate
Long-term debt
Long-term Debt, Gross	$ 260

Debt - Activity (Details)

Debt - Activity (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 25, 2019	Dec. 31, 2018
Committed multi-currency revolving credit facilities due 2021
Revolving credit facility
Available borrowing capacity under line of credit facility	$ 1,450
Short-term uncommitted credit facilities
Revolving credit facility
Available borrowing capacity under line of credit facility	1,100
Amount of credit facility outstanding and due on demand	$ 371		$ 211
2018 Revolver
Revolving credit facility
Maximum borrowing capacity of revolving credit facility		$ 2,550

Debt - FV, Maturities, etc. (De

Debt - FV, Maturities, etc. (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Long term debt value
Letters of credit, outstanding amount	$ 39	$ 28
Ownership interest in guarantor subsidiaries (as a percent)	100.00%
Leverage ratio, maximum	4.50
Level 2
Long term debt value
Fair value of the long-term debt	$ 7,000	$ 6,600

Taxes on Income (Details)

Taxes on Income (Details)	3 Months Ended
	Mar. 31, 2019
Effective income tax changes by percentage
Effective income tax rate reduced by expense in share based compensation	11.30%
Effective income tax rate increase for impact of GILTI, net of FDII	1.10%
Effective income tax rate reduction for equity in results of affiliates loss	2.70%
Effective income tax rate reduction for federal tax credits	1.00%

Employee Benefit Obligations -

Employee Benefit Obligations - Total (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Employee Benefit Obligations
Underfunded defined benefit pension liabilities	$ 973	$ 954
Less current portion	(24)	(25)
Long-term defined benefit pension liabilities	949	929
Long-term retiree medical liabilities	163	157
Deferred compensation plans	329	291
Other	38	78
Total non-current employee benefit obligations	$ 1,479	$ 1,455

Employee Benefit Obligations _2

Employee Benefit Obligations - Components of net periodic benefit cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2019
Ball-sponsored plans:
Non-service pension income	$ 6	$ 1
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
Defined Benefit Pension Plans
Ball-sponsored plans:
Contributions to pension plans	$ 6	$ 8
Defined Benefit Pension Plans | Forecast
Ball-sponsored plans:
Expected contributions to pension plans for the full year			$ 92
Defined Benefit Pension Plans | Ball Sponsored Plans
Ball-sponsored plans:
Service cost	15	17
Interest cost	43	42
Expected return on plan assets	(56)	(54)
Amortization of prior service cost	1
Recognized net actuarial loss	7	11
Total net periodic benefit cost	10	16
U.S. | Defined Benefit Pension Plans | Ball Sponsored Plans
Ball-sponsored plans:
Service cost	12	13
Interest cost	25	24
Expected return on plan assets	(28)	(27)
Recognized net actuarial loss	6	10
Total net periodic benefit cost	15	20
Foreign | Defined Benefit Pension Plans | Ball Sponsored Plans
Ball-sponsored plans:
Service cost	3	4
Interest cost	18	18
Expected return on plan assets	(28)	(27)
Amortization of prior service cost	1
Recognized net actuarial loss	1	1
Total net periodic benefit cost	$ (5)	$ (4)

Equity and Accumulated Other _3

Equity and Accumulated Other Comprehensive Earnings - Equity activity (Details) - USD ($) shares in Thousands, $ in Millions	Jan. 01, 2019	Mar. 31, 2019	Mar. 31, 2018
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 3,562	$ 3,562	$ 4,084
Net earnings		117	125
Other comprehensive earnings (loss), net of tax		125	(17)
Reclassification of stranded tax effects	79
Common dividends, net of tax benefits		(34)	(35)
Treasury stock purchases		(129)	(41)
Treasury shares reissued		5	5
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged		(3)	16
Other activity		6	1
Balance at end of the period		3,649	4,138
Common Stock
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 1,157	$ 1,157	$ 1,084
Balance (in shares)	673,237	673,237	670,576
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged		$ (3)	$ 16
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged (in shares)		1,455	1,035
Balance at end of the period		$ 1,154	$ 1,100
Balance (in shares)		674,692	671,611
Treasury Stock, Common
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ (2,205)	$ (2,205)	$ (1,474)
Balance (in shares)	(337,979)	(337,979)	(320,695)
Treasury stock purchases		$ (129)	$ (41)
Treasury stock purchases (in shares)		(2,634)	(1,040)
Treasury shares reissued		$ 5	$ 5
Treasury shares reissued (in shares)		390	300
Other activity		$ 6	$ 2
Balance at end of the period		$ (2,323)	$ (1,508)
Balance (in shares)		(340,223)	(321,435)
Retained Earnings
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 5,341	$ 5,341	$ 5,024
Net earnings		117	125
Reclassification of stranded tax effects		79
Common dividends, net of tax benefits		(34)	(35)
Other activity		1
Balance at end of the period		5,504	5,114
Accumulated Other Comprehensive Earnings (Loss)
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	(835)	(835)	(655)
Other comprehensive earnings (loss), net of tax		125	(17)
Reclassification of stranded tax effects		(79)
Other activity			(1)
Balance at end of the period		(789)	(673)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 104	104	105
Other activity		(1)
Balance at end of the period		$ 103	$ 105

Equity and Accumulated Other _4

Equity and Accumulated Other Comprehensive Earnings - Share repurchase program (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 23, 2019
Share Repurchase Program
Treasury Stock, Value, Acquired, Cost Method	$ 129	$ 41
Maximum
Share Repurchase Program
Number of shares authorized for repurchase			50

Equity and Accumulated Other _5

Equity and Accumulated Other Comprehensive Earnings - AOCI Activity (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 3,458
Stockholders' Equity Attributable to Parent, Ending Balance	3,546
Foreign Currency Translation
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(504)
Other comprehensive earnings (loss) before reclassifications	78
Stockholders' Equity Attributable to Parent, Ending Balance	(426)
Pension and Other Postretirement Benefits (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(277)
Other comprehensive earnings (loss) before reclassifications	21
Amounts reclassified from accumulated other comprehensive earnings (loss) into earnings	4
Stranded tax effects reclassified into retained earnings	76
Stockholders' Equity Attributable to Parent, Ending Balance	(328)
Derivatives Designated as Hedges
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(54)
Other comprehensive earnings (loss) before reclassifications	40
Amounts reclassified from accumulated other comprehensive earnings (loss) into earnings	(18)
Stranded tax effects reclassified into retained earnings	3
Stockholders' Equity Attributable to Parent, Ending Balance	(35)
Accumulated Other Comprehensive Earnings (Loss).
Accumulated Other Comprehensive Earnings (Loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(835)
Other comprehensive earnings (loss) before reclassifications	139
Amounts reclassified from accumulated other comprehensive earnings (loss) into earnings	(14)
Stranded tax effects reclassified into retained earnings	79
Stockholders' Equity Attributable to Parent, Ending Balance	$ (789)

Equity and Accumulated Other _6

Equity and Accumulated Other Comprehensive Earnings - AOCI Additional Details (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Gains (losses) on cash flow hedges
Net sales	$ 2,785	$ 2,785
Cost of sales (excluding depreciation and amortization)	(2,253)	(2,237)
Selling, general and administrative	(127)	(112)
Earnings before taxes	140	152
Tax benefit (expense) on amounts reclassified into earnings	(10)	(34)
Net earnings	117	125
Derivatives Designated as Hedges | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Gains (losses) on cash flow hedges
Earnings before taxes	24	(19)
Tax benefit (expense) on amounts reclassified into earnings	(6)	5
Net earnings	18	(14)
Derivatives Designated as Hedges | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Commodity contracts
Gains (losses) on cash flow hedges
Net sales	2	(3)
Cost of sales (excluding depreciation and amortization)	(5)	10
Derivatives Designated as Hedges | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Foreign currency contracts
Gains (losses) on cash flow hedges
Selling, general and administrative	23	(29)
Derivatives Designated as Hedges | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Cross-currency swap
Gains (losses) on cash flow hedges
Interest expense	4	3
Pension and Other Postretirement Benefits (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	(5)	(9)
Tax benefit (expense) on amounts reclassified into earnings	1	2
Recognized gain (loss), net of tax	(4)	(7)
Actuarial gains (losses) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	$ (5)	$ (9)

Earnings and Dividends Per Sh_3

Earnings and Dividends Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Apr. 24, 2019	Mar. 31, 2019	Mar. 31, 2018
Earnings per share
Net earnings attributable to Ball Corporation		$ 117	$ 125
Basic weighted average common shares		334,239	350,215
Effect of dilutive securities (in shares)		8,437	7,337
Weighted average shares applicable to diluted earnings per share		342,676	357,552
Per basic share (in dollars per share)		$ 0.35	$ 0.36
Per diluted share (in dollars per share)		$ 0.34	$ 0.35
Options excluded from EPS calculation
Number of outstanding options excluded from computation of diluted earnings per share		1,000	5,000
Dividends declared and paid
Dividends declared (in dollars per share)		$ 0.10	$ 0.10
Subsequent Event.
Dividends declared and paid
Percentage increase in quarterly dividends	50.00%
Dividend per share	$ 0.15

Financial Instruments and Ris_3

Financial Instruments and Risk Management - General (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)approach$ / sharesshares	Dec. 31, 2018USD ($)
Financial Instruments and Risk Management
Aggregate fair value of derivative instruments with credit-risk-related contingent features that were in a net liability position	$ 20	$ 46
Collateral amount posted for derivative instruments with credit-risk-related contingent features that were in a net liability position	$ 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
Notional amount of derivatives	$ 1,300
Net gain expected to be recognized in the consolidated statement of earnings during the next 12 months	17
Gain (loss) on derivatives included in AOCI, net of tax	(17)
Commodity contracts | Derivatives Designated As Hedging Instruments | Cash Flow Hedging
Financial Instruments and Risk Management
Notional amount of derivatives	$ 1,100
Commodity contracts | Maximum
Financial Instruments and Risk Management
Period within which derivative will expire	3 years
Interest rate swap and option contracts
Financial Instruments and Risk Management
Notional amount of derivatives	$ 921
Period within which derivative will expire	2 years
Currency Exchange Rate Risk
Financial Instruments and Risk Management
Notional amount of derivatives	$ 1,600
Net after-tax gain (loss) included in AOCI	$ (2)
Cross-currency swap
Financial Instruments and Risk Management
Period within which derivative will expire	2 years
Gain (loss) on derivatives included in AOCI, net of tax	$ (16)
Amount of hedge contract	$ 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	Mar. 31, 2019	Dec. 31, 2018
Fair Value Measurements
Total current derivative contracts, assets	$ 32	$ 36
Total noncurrent derivative contracts, assets	2
Total current derivative contracts, liabilities	34	62
Total noncurrent derivative contracts, liabilities	27	64
Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	7	10
Total noncurrent derivative contracts, assets	2
Total current derivative contracts, liabilities	33	53
Total noncurrent derivative contracts, liabilities		2
Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	22	21
Total current derivative contracts, liabilities	1	6
Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	3	5
Total current derivative contracts, liabilities		3
Total noncurrent derivative contracts, liabilities	27	62
Derivatives Designated As Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	8	9
Total noncurrent derivative contracts, assets	2
Total current derivative contracts, liabilities	29	45
Total noncurrent derivative contracts, liabilities	27	64
Derivatives Designated As Hedging Instruments | Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets	7	9
Total noncurrent derivative contracts, assets	2
Total current derivative contracts, liabilities	29	42
Total noncurrent derivative contracts, liabilities		2
Derivatives Designated As Hedging Instruments | Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	1
Total current derivative contracts, liabilities		2
Derivatives Designated As Hedging Instruments | Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, liabilities		1
Total noncurrent derivative contracts, liabilities	27	62
Derivatives Not Designated as Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	24	27
Total current derivative contracts, liabilities	5	17
Derivatives Not Designated as Hedging Instruments | Commodity contracts
Fair Value Measurements
Total current derivative contracts, assets		1
Total current derivative contracts, liabilities	4	11
Derivatives Not Designated as Hedging Instruments | Foreign currency contracts
Fair Value Measurements
Total current derivative contracts, assets	21	21
Total current derivative contracts, liabilities	1	4
Derivatives Not Designated as Hedging Instruments | Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	$ 3	5
Total current derivative contracts, liabilities		$ 2

Financial Instruments and Ris_5

Financial Instruments and Risk Management - Impact on Earnings (Details) - USD ($) $ in Millions	Jan. 01, 2019	Mar. 31, 2019	Mar. 31, 2018
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		$ 24	$ (19)
Gain (Loss) on Derivatives not Designated as Hedge Instruments		89	(6)
Amounts reclassified into earnings:
Commodity contracts		3	(7)
Cross currency swap contracts		(27)	26
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		24	(19)
Stranded tax effects reclassified into retained earnings:
Reclassification of stranded tax effects	$ 79
Changes in accumulated other comprehensive earnings (loss) for effective derivatives		19	(43)
Commodity contracts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		14	(30)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		14	(30)
Stranded tax effects reclassified into retained earnings:
Reclassification of stranded tax effects		2
Commodity contracts | Net sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		2	(3)
Gain (Loss) on Derivatives not Designated as Hedge Instruments			1
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		2	(3)
Commodity contracts | Cost of sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		(5)	10
Gain (Loss) on Derivatives not Designated as Hedge Instruments		1
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		(5)	10
Foreign currency contracts | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments		58	(11)
Equity contracts | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments		30	4
Cross-currency swap
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		43	(39)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		43	(39)
Stranded tax effects reclassified into retained earnings:
Reclassification of stranded tax effects		(5)
Cross-currency swap | Interest expense.
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		4	3
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		4	3
Cross-currency swap | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		23	(29)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		23	(29)
Currency exchange contracts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		(2)	(1)
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		(2)	(1)
Foreign currency and tax impacts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		(9)	8
Change in fair value of cash flow hedges:
Derivative, Gain (Loss) on Derivative, Net		$ (9)	$ 8

Contingencies - Environmental (

Contingencies - Environmental (Details) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 30, 2012item	Mar. 31, 2019USD ($)aaction	Dec. 31, 2016USD ($)	Dec. 31, 2003	Dec. 31, 1992USD ($)company
Other Current Liabilities And Other Noncurrent Liabilities
Environmental remediation
Estimated potential liability for all environmental matters		$ 29
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

Indemnifications and Guarante_2

Indemnifications and Guarantees (Details)	3 Months Ended
	Mar. 31, 2019
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) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Subsidiary Guarantees of Debt
Ownership interest in guarantor subsidiaries (as a percent)	100.00%
Net sales	$ 2,785	$ 2,785
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(2,253)	(2,237)
Depreciation and amortization	(170)	(180)
Selling, general and administrative	(127)	(112)
Business consolidation and other activities	(14)	(30)
Total costs and expenses	(2,564)	(2,559)
Earnings before interest and taxes	221	226
Interest expense	(77)	(73)
Debt refinancing and other costs	(4)	(1)
Total interest expense	(81)	(74)
Earnings (loss) before taxes	140	152
Tax (provision) benefit	(10)	(34)
Equity in results of affiliates, net of tax	(13)	7
Net earnings	117	125
Net (earnings) loss attributable to noncontrolling interests
Net earnings attributable to Ball Corporation	117	125
Comprehensive earnings (loss) attributable to Ball Corporation	242	108
Eliminating Adjustments
Subsidiary Guarantees of Debt
Net sales	(199)	(182)
Costs and expenses
Cost of sales (excluding depreciation and amortization)	199	182
Equity in results of subsidiaries	(156)	(201)
Total costs and expenses	43	(19)
Earnings before interest and taxes	(156)	(201)
Earnings (loss) before taxes	(156)	(201)
Net earnings	(156)	(201)
Net earnings attributable to Ball Corporation	(156)	(201)
Comprehensive earnings (loss) attributable to Ball Corporation	(427)	(197)
Ball Corporation
Costs and expenses
Depreciation and amortization	(1)	(1)
Selling, general and administrative	(24)	(34)
Business consolidation and other activities	(6)	(13)
Equity in results of subsidiaries	136	162
Intercompany	61	82
Total costs and expenses	166	196
Earnings before interest and taxes	166	196
Interest expense	(78)	(76)
Debt refinancing and other costs	(4)	(1)
Total interest expense	(82)	(77)
Earnings (loss) before taxes	84	119
Tax (provision) benefit	33	6
Net earnings	117	125
Net earnings attributable to Ball Corporation	117	125
Comprehensive earnings (loss) attributable to Ball Corporation	242	108
Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Net sales	1,549	1,535
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(1,324)	(1,306)
Depreciation and amortization	(48)	(52)
Selling, general and administrative	(54)	(41)
Business consolidation and other activities	2	(6)
Equity in results of subsidiaries	20	34
Intercompany	(33)	(42)
Total costs and expenses	(1,437)	(1,413)
Earnings before interest and taxes	112	122
Interest expense	2	3
Total interest expense	2	3
Earnings (loss) before taxes	114	125
Tax (provision) benefit	(21)	(17)
Equity in results of affiliates, net of tax	(16)	3
Net earnings	77	111
Net earnings attributable to Ball Corporation	77	111
Comprehensive earnings (loss) attributable to Ball Corporation	242	108
Non-Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Net sales	1,435	1,432
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(1,128)	(1,113)
Depreciation and amortization	(121)	(127)
Selling, general and administrative	(49)	(37)
Business consolidation and other activities	(10)	(11)
Equity in results of subsidiaries		5
Intercompany	(28)	(40)
Total costs and expenses	(1,336)	(1,323)
Earnings before interest and taxes	99	109
Interest expense	(1)
Total interest expense	(1)
Earnings (loss) before taxes	98	109
Tax (provision) benefit	(22)	(23)
Equity in results of affiliates, net of tax	3	4
Net earnings	79	90
Net earnings attributable to Ball Corporation	79	90
Comprehensive earnings (loss) attributable to Ball Corporation	$ 185	$ 89

Subsidiary Guarantees of Debt_2

Subsidiary Guarantees of Debt - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 603		$ 721	$ 477	$ 448
Receivables, net	1,885		1,802
Inventories, net	1,275		1,271
Other current assets	184	$ 139	140
Assets held for sale	452		6
Total current assets	4,399		3,940
Noncurrent assets
Property, plant and equipment, net	4,360		4,542
Goodwill	4,410		4,475
Intangible assets, net	2,137		2,188
Other assets	1,617		1,409
Total assets	16,923		16,554
Current liabilities
Short-term debt and current portion of long-term debt	399		219
Accounts payable	2,739		3,095
Accrued employee costs	224		289
Other current liabilities	500	489	492
Liabilities held for sale	173
Total current liabilities	4,035		4,095
Noncurrent liabilities
Long-term debt	6,719		6,510
Employee benefit obligations	1,479		1,455
Long-term derivative liabilities	27		64
Deferred taxes	625		645
Other liabilities	416	$ 273	287
Total liabilities	13,274		12,992
Common stock	1,154		1,157
Retained earnings	5,504		5,341
Accumulated other comprehensive earnings (loss)	(789)		(835)
Treasury stock, at cost	(2,323)		(2,205)
Total Ball Corporation shareholders' equity	3,546		3,458
Noncontrolling interests	103		104
Total equity	3,649		3,562	$ 4,138	$ 4,084
Total liabilities and equity	16,923		16,554
Eliminating Adjustments
Current assets
Intercompany receivables	(2,254)		(2,218)
Total current assets	(2,254)		(2,218)
Noncurrent assets
Investment in subsidiaries	(15,206)		(14,825)
Total assets	(17,460)		(17,043)
Current liabilities
Intercompany payables	(2,860)		(2,825)
Total current liabilities	(2,860)		(2,825)
Noncurrent liabilities
Intercompany long-term notes	606		606
Total liabilities	(2,254)		(2,219)
Common stock	(7,842)		(7,837)
Preferred stock	(5)		(5)
Retained earnings	(8,213)		(8,028)
Accumulated other comprehensive earnings (loss)	854		1,046
Total Ball Corporation shareholders' equity	(15,206)		(14,824)
Total equity	(15,206)		(14,824)
Total liabilities and equity	(17,460)		(17,043)
Ball Corporation
Current assets
Cash and cash equivalents	14		4
Receivables, net	4		21
Intercompany receivables	90		66
Other current assets	59		32
Total current assets	167		123
Noncurrent assets
Property, plant and equipment, net	28		24
Investment in subsidiaries	11,392		11,145
Intangible assets, net	18		18
Other assets	262		213
Total assets	11,867		11,523
Current liabilities
Short-term debt and current portion of long-term debt	336		173
Accounts payable	18		50
Intercompany payables	2,307		2,310
Accrued employee costs	40		39
Other current liabilities	125		153
Total current liabilities	2,826		2,725
Noncurrent liabilities
Long-term debt	6,713		6,504
Employee benefit obligations	897		871
Intercompany long-term notes	(1,977)		(1,977)
Deferred taxes	(247)		(172)
Other liabilities	109		114
Total liabilities	8,321		8,065
Common stock	1,154		1,157
Retained earnings	5,504		5,341
Accumulated other comprehensive earnings (loss)	(789)		(835)
Treasury stock, at cost	(2,323)		(2,205)
Total Ball Corporation shareholders' equity	3,546		3,458
Total equity	3,546		3,458
Total liabilities and equity	11,867		11,523
Guarantor Subsidiaries
Current assets
Receivables, net	658		613
Intercompany receivables	490		495
Inventories, net	559		527
Other current assets	31		31
Assets held for sale	4		4
Total current assets	1,742		1,670
Noncurrent assets
Property, plant and equipment, net	1,390		1,378
Investment in subsidiaries	3,913		3,779
Goodwill	1,191		1,191
Intangible assets, net	401		409
Other assets	293		215
Total assets	8,930		8,642
Current liabilities
Accounts payable	1,022		1,178
Intercompany payables	65		49
Accrued employee costs	94		144
Other current liabilities	139		119
Total current liabilities	1,320		1,490
Noncurrent liabilities
Employee benefit obligations	295		286
Intercompany long-term notes	113		3
Deferred taxes	244		169
Other liabilities	119		45
Total liabilities	2,091		1,993
Common stock	2,523		2,523
Retained earnings	4,815		4,712
Accumulated other comprehensive earnings (loss)	(499)		(586)
Total Ball Corporation shareholders' equity	6,839		6,649
Total equity	6,839		6,649
Total liabilities and equity	8,930		8,642
Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	589		717
Receivables, net	1,223		1,168
Intercompany receivables	1,674		1,657
Inventories, net	716		744
Other current assets	94		77
Assets held for sale	448		2
Total current assets	4,744		4,365
Noncurrent assets
Property, plant and equipment, net	2,942		3,140
Investment in subsidiaries	(99)		(99)
Goodwill	3,219		3,284
Intangible assets, net	1,718		1,761
Other assets	1,062		981
Total assets	13,586		13,432
Current liabilities
Short-term debt and current portion of long-term debt	63		46
Accounts payable	1,699		1,867
Intercompany payables	488		466
Accrued employee costs	90		106
Other current liabilities	236		220
Liabilities held for sale	173
Total current liabilities	2,749		2,705
Noncurrent liabilities
Long-term debt	6		6
Employee benefit obligations	287		298
Intercompany long-term notes	1,258		1,368
Deferred taxes	628		648
Other liabilities	188		128
Total liabilities	5,116		5,153
Common stock	5,319		5,314
Preferred stock	5		5
Retained earnings	3,398		3,316
Accumulated other comprehensive earnings (loss)	(355)		(460)
Total Ball Corporation shareholders' equity	8,367		8,175
Noncontrolling interests	103		104
Total equity	8,470		8,279
Total liabilities and equity	$ 13,586		$ 13,432

Subsidiary Guarantees of Debt_3

Subsidiary Guarantees of Debt - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	$ (129)	$ (74)
Cash flows from investing activities
Capital expenditures	(154)	(242)
Business dispositions, net of cash sold		(45)
Other, net	(9)	3
Cash provided by (used in) investing activities	(163)	(284)
Cash Flows from Financing Activities
Long-term borrowings	671	1,162
Repayments of long-term borrowings	(412)	(683)
Net change in short-term borrowings	160	(14)
Proceeds from issuances of common stock, net of shares used for taxes	(4)
Acquisitions of treasury stock	(146)	(35)
Common stock dividends	(34)	(35)
Other, net	(10)	(11)
Cash provided by (used in) financing activities	225	384
Effect of exchange rate changes on cash	11	1
Change in cash, cash equivalents and restricted cash	(56)	27
Cash, cash equivalents and restricted cash - beginning of period	728	459
Cash, cash equivalents and restricted cash - end of period	672	486
Ball Corporation
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	(171)	21
Cash flows from investing activities
Capital expenditures	(4)	(3)
Business dispositions, net of cash sold		(45)
Other, net	1	(2)
Cash provided by (used in) investing activities	(3)	(50)
Cash Flows from Financing Activities
Long-term borrowings	670	1,160
Repayments of long-term borrowings	(410)	(680)
Net change in short-term borrowings	143	(89)
Proceeds from issuances of common stock, net of shares used for taxes	(4)
Acquisitions of treasury stock	(146)	(35)
Common stock dividends	(34)	(35)
Intercompany	(25)	(287)
Other, net	(10)	(10)
Cash provided by (used in) financing activities	184	24
Change in cash, cash equivalents and restricted cash	10	(5)
Cash, cash equivalents and restricted cash - beginning of period	4	5
Cash, cash equivalents and restricted cash - end of period	14
Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	(53)	(226)
Cash flows from investing activities
Capital expenditures	(72)	(155)
Other, net		2
Cash provided by (used in) investing activities	(72)	(153)
Cash Flows from Financing Activities
Long-term borrowings		1
Repayments of long-term borrowings		(1)
Intercompany	125	379
Cash provided by (used in) financing activities	125	379
Non-Guarantor Subsidiaries
Subsidiary Guarantees of Debt
Cash provided by (used in) operating activities	95	131
Cash flows from investing activities
Capital expenditures	(78)	(84)
Other, net	(10)	3
Cash provided by (used in) investing activities	(88)	(81)
Cash Flows from Financing Activities
Long-term borrowings	1	1
Repayments of long-term borrowings	(2)	(2)
Net change in short-term borrowings	17	75
Intercompany	(100)	(92)
Other, net		(1)
Cash provided by (used in) financing activities	(84)	(19)
Effect of exchange rate changes on cash	11	1
Change in cash, cash equivalents and restricted cash	(66)	32
Cash, cash equivalents and restricted cash - beginning of period	724	454
Cash, cash equivalents and restricted cash - end of period	$ 658	$ 486