Ball (BALL) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 30, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Entity Registrant Name	BALL Corp
Entity File Number	001-07349
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0160610
Entity Address, Address Line One	9200 West 108th Circle
Entity Address, City or Town	Westminster
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80021
City Area Code	303
Local Phone Number	469-3131
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		315,301,214
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	BALL
Security Exchange Name	NYSE
Entity Central Index Key	0000009389
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)
Net sales	$ 3,571	$ 3,951	$ 10,626	$ 11,801
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(2,894)	(3,275)	(8,655)	(9,736)
Depreciation and amortization	(173)	(157)	(509)	(510)
Selling, general and administrative	(132)	(159)	(428)	(506)
Business consolidation and other activities	(47)	163	(61)	(23)
Total costs and expenses	(3,246)	(3,428)	(9,653)	(10,775)
Earnings before interest and taxes	325	523	973	1,026
Interest expense	(122)	(79)	(350)	(216)
Debt refinancing and other costs				(2)
Total interest expense	(122)	(79)	(350)	(218)
Earnings before taxes	203	444	623	808
Tax (provision) benefit	(2)	(38)	(79)	(139)
Equity in results of affiliates, net of tax	3	(12)	13	7
Net earnings	204	394	557	676
Net earnings attributable to noncontrolling interests	1	2	4	12
Net earnings attributable to Ball Corporation	$ 203	$ 392	$ 553	$ 664
Earnings per share:
Basic (in dollars per share)	$ 0.64	$ 1.25	$ 1.76	$ 2.09
Diluted (in dollars per share)	$ 0.64	$ 1.24	$ 1.74	$ 2.07
Weighted average shares outstanding: (000s)
Basic (in shares)	314,983	314,054	314,596	317,296
Diluted (in shares)	317,296	317,061	316,938	321,222

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS)
Net earnings	$ 204	$ 394	$ 557	$ 676
Other comprehensive earnings (loss):
Currency translation adjustment	(40)	(203)	18	51
Pension and other postretirement benefits	(1)	(1)	8	1
Derivatives designated as hedges	(30)	(129)	14	(148)
Total other comprehensive earnings (loss)	(71)	(333)	40	(96)
Income tax (provision) benefit	11	31	(3)	30
Total other comprehensive earnings (loss), net of tax	(60)	(302)	37	(66)
Total comprehensive earnings	144	92	594	610
Comprehensive earnings attributable to noncontrolling interests	1	2	4	12
Comprehensive earnings attributable to Ball Corporation	$ 143	$ 90	$ 590	$ 598

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 1,335	$ 548
Receivables, net	2,059	2,594
Inventories, net	1,688	2,179
Other current assets	326	168
Total current assets	5,408	5,489
Noncurrent assets
Property, plant and equipment, net	7,264	7,053
Goodwill	4,222	4,235
Intangible assets, net	1,315	1,417
Other assets	1,723	1,715
Total assets	19,932	19,909
Current liabilities
Short-term debt and current portion of long-term debt	2,108	1,408
Accounts payable	3,294	4,383
Accrued employee costs	310	236
Other current liabilities	1,003	981
Total current liabilities	6,715	7,008
Noncurrent liabilities
Long-term debt	7,483	7,540
Employee benefit obligations	813	847
Deferred taxes	445	540
Other liabilities	468	447
Total liabilities	15,924	16,382
Equity
Common stock (682,896,369 shares issued - 2023; 682,144,408 shares issued - 2022)	1,304	1,260
Retained earnings	7,673	7,309
Accumulated other comprehensive earnings (loss)	(642)	(679)
Treasury stock, at cost (367,662,311 shares - 2023; 368,036,369 shares - 2022)	(4,397)	(4,429)
Total Ball Corporation shareholders' equity	3,938	3,461
Noncontrolling interests	70	66
Total equity	4,008	3,527
Total liabilities and equity	$ 19,932	$ 19,909

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Sep. 30, 2023	Dec. 31, 2022
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, shares issued	682,896,369	682,144,408
Treasury stock, at cost	367,662,311	368,036,369

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities
Net earnings	$ 557	$ 676
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:
Depreciation and amortization	509	510
Business consolidation and other activities	61	23
Deferred tax provision (benefit)	(87)	(23)
Pension contributions	(13)	(113)
Other, net	71	(165)
Changes in working capital components, net of dispositions	29	(1,132)
Cash provided by (used in) operating activities	1,127	(224)
Cash Flows from Investing Activities
Capital expenditures	(830)	(1,262)
Business dispositions, net of cash sold		748
Other, net	4	62
Cash provided by (used in) investing activities	(826)	(452)
Cash Flows from Financing Activities
Long-term borrowings	1,700	3,401
Repayments of long-term borrowings	(913)	(2,446)
Net change in short-term borrowings	(135)	463
Acquisitions of treasury stock	(3)	(617)
Common stock dividends	(189)	(191)
Other, net	30	13
Cash provided by (used in) financing activities	490	623
Effect of exchange rate changes on cash		(30)
Change in cash, cash equivalents and restricted cash	791	(83)
Cash, cash equivalents and restricted cash - beginning of period	558	579
Cash, cash equivalents and restricted cash - end of period	$ 1,349	$ 496

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Basis of Presentation
Basis of Presentation	1 . Basis of Presentation ​ The accompanying unaudited condensed consolidated financial statements (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 consolidated 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 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 2022 Annual Report on Form 10-K filed on February 21, 2023, pursuant to the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2022 (annual report). ​ The preparation of consolidated 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 consolidated financial statements and reported amounts of revenues and expenses during the reporting periods. These estimates are based on historical experience and various assumptions believed to be reasonable under the circumstances. Ball’s management evaluates these estimates on an ongoing basis and adjusts or revises the estimates as circumstances change. As future events and their impacts cannot be determined with precision, actual results may differ from these estimates. In the opinion of management, the consolidated financial statements reflect all adjustments that are of a normal recurring nature and are 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. ​ Risks and Uncertainties ​ Global Economic Environment ​ Recent data has indicated continued high inflation in the regions where we operate. Current and future inflationary effects may continue to be impacted by, among other things, supply chain disruptions, governmental stimulus or fiscal policies, changes in interest rates, and changing demand for certain goods and services as recovery from the COVID-19 pandemic continues. We cannot predict with any certainty the impact that rising interest rates, a global or any regional recession, or higher inflation may have on our customers or suppliers. Additionally, we are unable to predict the potential effects that any future pandemic, or the continuation or escalation of global conflicts, including the conflict between Russia and Ukraine and the rising instability in the Middle East, and related sanctions or market disruptions, may have on our business. It remains uncertain how long any of these conditions may last or how severe any of them may become. ​ Ball management has reviewed the estimates used in preparing the company’s consolidated financial statements and the following have a reasonably possible likelihood of being affected, to a material extent, by the direct and indirect impacts of the current global economic environment in the near term. ​ ● Estimates regarding the future financial performance of the business used in the impairment tests for goodwill, long-lived assets, equity method investments, recoverability of deferred tax assets and estimates regarding cash needs and associated indefinite reinvestment assertions; ● Estimates of recoverability for customer receivables; ● Estimates of net realizable value for inventory; and ● Estimates regarding the likelihood of forecasted transactions associated with hedge accounting positions at September 30, 2023, which could impact the company’s ability to satisfy hedge accounting requirements and result in the recognition of income and/or expenses. ​ In addition to the above potential impacts on the estimates used in preparing the consolidated financial statements, the current global economic environment has the potential to increase Ball’s vulnerabilities to near-term severe impacts related to certain concentrations in its business. In line with other companies in the packaging and aerospace industries, Ball makes the majority of its sales and significant purchases to or from a relatively small number of global, or large regional, customers and suppliers. Furthermore, Ball makes the majority of its sales from a small number of product lines. The potential of the current global economic environment to affect a significant customer or supplier, or to affect demand for certain products to a significant degree, heightens the vulnerability of Ball to these concentrations.

Accounting Pronouncements

Accounting Pronouncements	9 Months Ended
	Sep. 30, 2023
Accounting Pronouncements
Accounting Pronouncements	2. Accounting Pronouncements ​ Recently Adopted Accounting Standards ​ Supplier Finance Programs ​ In 2022, new guidance was issued by the FASB with the goal of enhancing transparency around supplier finance programs. On January 1, 2023, Ball adopted all required disclosures effective for 2023, on a retrospective basis. The company will adopt the rollforward disclosure requirements, on a prospective basis, when they become effective in 2024. ​ The company has several regional supplier finance programs, all of which have substantially similar characteristics, with various financial institutions that act as the paying agent for certain payables of the company. The company establishes these programs through agreements with the financial institutions to enable more efficient payment processing to our suppliers while also providing our suppliers a potential source of liquidity to the extent they enter into a factoring agreement with the financial institutions. Our suppliers’ participation in the programs is voluntary, and the company is not involved in negotiations of the suppliers’ arrangements with the financial institutions to sell their receivables, and our rights and obligations to our suppliers are not impacted by our suppliers’ decisions to sell amounts under these programs. Under these supplier finance programs, the company pays the financial institutions the stated amount of confirmed invoices from its participating suppliers on the original maturity dates of the invoices, which vary based on the negotiated terms with each supplier. All payment terms are short-term in nature and are not dependent on whether the suppliers participate in the supplier finance programs or if the suppliers elect to receive early payment from the financial institutions. Our supplier finance programs do not include any of the following: guarantees to the financial institutions, assets pledged as securities or interest accruing on the obligation prior to the due date. ​ Based on the review of the facts and circumstances of our supplier finance programs, including but not limited to those noted above, the company has concluded that the characteristics of the obligations due under our supplier finance programs have not changed and remain those of standard accounts payables, rather than indicative of debt. ​ The amount of obligations outstanding that the company confirmed as valid to the financial institutions under the company's programs was $512 million and $930 million at September 30, 2023 and December 31, 2022, respectively. These amounts are classified within accounts payable on the unaudited condensed consolidated balance sheets, and the associated payments are reflected in the cash flows from operating activities section of the unaudited condensed consolidated statements of cash flows. ​

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2023
Business Segment Information
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 : ​ Beverage packaging, EMEA : Note 4 ​ Beverage packaging, South America : ​ Aerospace : Note 4 ​ As presented in the table below, Other consists of a non-reportable operating segment (beverage packaging, other) that manufactures and sells aluminum beverage containers in India, Saudi Arabia and throughout the Asia Pacific region; a non-reportable operating segment that manufactures and sells extruded aluminum aerosol containers and recloseable aluminum bottles across multiple consumer categories as well as aluminum slugs (aerosol packaging) throughout North America, South America, Europe, and Asia; a non-reportable operating segment that manufactures and sells aluminum cups (aluminum cups); undistributed corporate expenses; and intercompany eliminations and other business activities. ​ The accounting policies of the segments are the same as those used in the consolidated financial statements, as discussed in Note 1 Note 4 ​ Summary of Business by Segment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beverage packaging, North and Central America ​ $ 1,541 ​ $ 1,800 ​ $ 4,582 ​ $ 5,184 Beverage packaging, EMEA ​ ​ 902 ​ ​ 1,031 ​ ​ 2,656 ​ ​ 3,106 Beverage packaging, South America ​ ​ 489 ​ ​ 466 ​ ​ 1,344 ​ ​ 1,494 Aerospace ​ ​ 460 ​ ​ 477 ​ ​ 1,467 ​ ​ 1,471 Reportable segment sales ​ ​ 3,392 ​ ​ 3,774 ​ ​ 10,049 ​ ​ 11,255 Other ​ ​ 179 ​ ​ 177 ​ ​ 577 ​ ​ 546 Net sales ​ $ 3,571 ​ $ 3,951 ​ $ 10,626 ​ $ 11,801 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comparable operating earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beverage packaging, North and Central America ​ $ 196 ​ $ 205 ​ $ 554 ​ $ 543 Beverage packaging, EMEA ​ ​ 103 ​ ​ 82 ​ ​ 274 ​ ​ 311 Beverage packaging, South America ​ ​ 61 ​ ​ 67 ​ ​ 141 ​ ​ 197 Aerospace ​ ​ 46 ​ ​ 47 ​ ​ 160 ​ ​ 126 Reportable segment comparable operating earnings ​ ​ 406 ​ ​ 401 ​ ​ 1,129 ​ ​ 1,177 Reconciling items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other (a) ​ ​ — ​ ​ (8) ​ ​ 7 ​ ​ (26) Business consolidation and other activities ​ ​ (47) ​ ​ 163 ​ ​ (61) ​ ​ (23) Amortization of acquired intangibles ​ ​ (34) ​ ​ (33) ​ ​ (102) ​ ​ (102) Earnings before interest and taxes ​ ​ 325 ​ ​ 523 ​ ​ 973 ​ ​ 1,026 Interest expense ​ ​ (122) ​ ​ (79) ​ ​ (350) ​ ​ (216) Debt refinancing and other costs ​ ​ — ​ ​ — ​ ​ — ​ ​ (2) Total interest expense ​ ​ (122) ​ ​ (79) ​ ​ (350) ​ ​ (218) Earnings before taxes ​ $ 203 ​ $ 444 ​ $ 623 ​ $ 808 (a) Includes undistributed corporate expenses, net, of $18 million and $25 million for the three months ended September 30, 2023 and 2022, respectively , and $60 million and $73 million for the nine months ended September 30, 2023 and 2022, respectively. ​ The company does not disclose total assets by segment as such information is not provided to the chief operating decision maker.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2023
Acquisitions and Dispositions
Acquisitions and Dispositions	4. Acquisitions and Dispositions ​ Aerospace ​ In the third quarter of 2023, Ball entered into a Stock Purchase Agreement (Agreement) with BAE Systems, Inc. (BAE) and, for the limited purposes set forth therein, BAE Systems plc, to sell all of the outstanding equity interests in Ball’s aerospace business to BAE for a purchase price of approximately $5.6 billion in cash, which sale, if consummated, would result in an estimated $4.5 billion in after-tax proceeds and an estimated pre-tax gain in excess of $4.5 billion. These estimates are subject to customary closing adjustments to the purchase price under the terms of the Agreement. The closing of the transaction is subject to the approvals, clearances, or waiting period expirations or terminations required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and from the Committee on Foreign Investment in the United States, among other regulatory approvals, and other customary closing conditions. As of September 30, 2023, we are in the process of seeking such regulatory approvals, clearances, and waiting period expirations or terminations but cannot yet assert that it is probable that such approvals, clearances, and waiting period expirations or terminations will be obtained or the other closing conditions will be satisfied. Due to these conditions, as of September 30, 2023, Ball’s aerospace business does not meet the requirements for held for sale presentation in Ball’s consolidated financial statements. ​ Russia ​ In the first quarter of 2022, the company announced that it was pursuing the sale of its aluminum beverage packaging business located in Russia. In the second quarter of 2022, Ball experienced deteriorating conditions and determined this constituted a triggering event for its Russian long-lived asset group. As a result, Ball recorded an impairment loss of $435 million during the second quarter of 2022. In the third quarter of 2022, the company completed the sale of its Russian aluminum beverage packaging business for total cash consideration of $530 million and recorded a gain on disposal of $222 million. When considering the impairment loss recorded during the second quarter 2022 of $435 million, the impairment loss net of gain on the sale of the Russian business was $213 million for the nine months ended September 30, 2022, and for the year ended December 31, 2022. The impairment loss in the second quarter and the gain on sale in the third quarter were recorded in business consolidation and other activities in the unaudited condensed consolidated statements of earnings. Cash proceeds from the sale of $455 million, net of the cash on the disposed business, were received in the third quarter of 2022 and were presented in business dispositions, net of cash sold, in the unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2022, and in the consolidated statements of cash flows for the year ended December 31, 2022. ​ In connection with this sale, Ball entered into a call option agreement that is contingently exercisable between September 2025 and September 2032, and if it becomes exercisable, will provide Ball the right to repurchase the business subject to the status of sanctions and certain other contingencies outside of Ball’s control. The option price, if exercised, would provide a customary compounded annual rate of return to the purchaser based on defined cash flows associated with the purchase and operation of the business from the purchase date through the exercise date of the option. Because the option strike price could limit the residual returns generated by the purchaser, if exercised, the option represents a variable interest retained by Ball in the Russian business. Based on the terms of the option relative to current market conditions in Russia, we determined that the option had an immaterial value at the date of sale. Neither the option nor any other terms in the sales agreement resulted in Ball being the primary beneficiary of the business and, therefore, it was deconsolidated. ​ Ball Metalpack Investment ​ During the first quarter of 2022, Ball sold its remaining 49 percent owned equity method investment in Ball Metalpack to Sonoco, a global provider of consumer, industrial, healthcare and protective packaging, for total consideration of approximately $298 million, all of which was received in cash in the first quarter of 2022. Ball’s carrying value of the investment before the sale was zero; therefore, a gain from the sale of $298 million was reported in business consolidation and other activities in the unaudited condensed consolidated statements of earnings. Cash proceeds of $298 million related to the sale are presented in business dispositions, net of cash sold, in the unaudited condensed consolidated statements of cash flows. ​ Ball also received proceeds from Ball Metalpack for the repayment of an outstanding promissory note and accrued interest of approximately $16 million, which was recorded as a gain in business consolidation and other activities in the unaudited condensed consolidated statements of earnings. ​

Revenue from Contracts With Cus

Revenue from Contracts With Customers	9 Months Ended
	Sep. 30, 2023
Revenue from Contracts with Customers
Revenue from Contracts with Customers	5. Revenue from Contracts with Customers ​ The following table disaggregates the company’s net sales based on the timing of transfer of control: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 632 ​ $ 2,939 ​ $ 3,571 ​ $ 1,736 ​ $ 8,890 ​ $ 10,626 2022 ​ ​ 725 ​ ​ 3,226 ​ ​ 3,951 ​ ​ 2,031 ​ ​ 9,770 ​ ​ 11,801 ​ Contract Balances ​ The company did not have any contract assets at either September 30, 2023, or December 31, 2022. 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract ​ Contract ​ ​ Liabilities ​ Liabilities ($ in millions) (Current) ​ (Noncurrent) ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2022 ​ $ 316 ​ $ 12 Increase (decrease) ​ ​ (9) ​ ​ (3) Balance at September 30, 2023 ​ $ 307 ​ $ 9 ​ ​ ​ ​ ​ ​ ​ ​ During the nine months ended September 30, 2023, contract liabilities decreased by $12 million, which is net of cash received of $734 million and amounts recognized as sales of $746 million, the majority of which related to current contract liabilities. The amount of sales recognized in the nine months ended September 30, 2023, that was included in the opening contract liabilities balance, was $316 million, all of which related to current contract liabilities. Current contract liabilities are classified within other current liabilities on the unaudited condensed consolidated balance sheets and noncurrent contract liabilities are classified within other liabilities. ​ The company also recorded additional net sales of $2 million and $17 million in the three and nine months ended September 30, 2023, respectively, and a reduction in net sales of $5 million and no ​ Transaction Price Allocated to Remaining Performance Obligations ​ The table below discloses: (1) the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period for contracts with an original duration of greater than one year, and (2) when the company expects to record sales on these multi-year contracts. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) Next Twelve Months ​ Thereafter ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales expected to be recognized on multi-year contracts in place as of September 30, 2023 ​ $ 1,378 ​ $ 1,473 ​ $ 2,851 ​

Business Consolidation and Othe

Business Consolidation and Other Activities	9 Months Ended
	Sep. 30, 2023
Business Consolidation and Other Activities
Business Consolidation and Other Activities	6. Business Consolidation and Other Activities ​ Following is a summary of business consolidation and other activity (charges)/income included in the unaudited condensed consolidated statements of earnings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beverage packaging, North and Central America ​ $ (10) ​ $ (36) ​ $ (27) ​ $ (37) Beverage packaging, EMEA ​ ​ 1 ​ ​ 214 ​ ​ 6 ​ ​ (225) Beverage packaging, South America ​ ​ (6) ​ ​ (9) ​ ​ (7) ​ ​ (31) Other ​ ​ (32) ​ ​ (6) ​ ​ (33) ​ ​ 270 ​ ​ $ (47) ​ $ 163 ​ $ (61) ​ $ (23) ​ 2023 ​ The charges of $47 million and $61 million during the three and nine months ended September 30, 2023, respectively, were primarily composed of transaction costs related to the potential sale of the company’s aerospace business and facility closure costs. See Note 4 ​ 2022 ​ During the three months ended September 30, 2022, the income of $163 million primarily related to the company completing the sale of its Russian aluminum beverage packaging business and recording a gain on disposal of $222 million, partially offset by facility closure costs of $42 million. The charges of $23 million during the nine months ended September 30, 2022, primarily related to the impairment losses on Russia’s long-lived asset group net of gain on the sale of $213 million, facility closure costs of $42 million and a charge related to a donation of $30 million to The Ball Foundation, partially offset by a gain of $298 million for the sale of Ball’s remaining equity method investment in Ball Metalpack. See Note 4

Supplemental Cash Flow Statemen

Supplemental Cash Flow Statement Disclosures	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Statement Disclosures
Supplemental Cash Flow Statement Disclosures	7. Supplemental Cash Flow Statement Disclosures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ Beginning of period: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 548 $ 563 Current restricted cash (included in other current assets) ​ ​ 10 ​ 16 Total cash, cash equivalents and restricted cash ​ $ 558 $ 579 ​ ​ ​ ​ ​ ​ End of period: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,335 $ 473 Current restricted cash (included in other current assets) ​ ​ 14 ​ 23 Total cash, cash equivalents and restricted cash ​ $ 1,349 $ 496 ​ 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 unaudited condensed consolidated statements of cash flows. A summary of the PP&E acquired but not yet paid for is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ Beginning of period: ​ ​ ​ ​ ​ PP&E acquired but not yet paid ​ $ 392 $ 540 ​ ​ ​ ​ ​ ​ ​ End of period: ​ ​ ​ ​ ​ PP&E acquired but not yet paid ​ $ 207 $ 461 ​

Receivables, Net

Receivables, Net	9 Months Ended
	Sep. 30, 2023
Receivables, Net
Receivables, Net	8. Receivables, Net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ ​ Trade accounts receivable ​ $ 883 ​ $ 1,373 Unbilled receivables ​ ​ 789 ​ ​ 746 Less: Allowance for doubtful accounts ​ ​ (12) ​ ​ (12) Net trade accounts receivable ​ ​ 1,660 ​ ​ 2,107 Other receivables ​ ​ 399 ​ ​ 487 ​ ​ $ 2,059 ​ $ 2,594 ​ The company has entered into several regional committed and uncommitted accounts receivable factoring programs with various financial institutions for certain receivables of the company. The programs are accounted for as true sales of the receivables and had combined limits of approximately $2.00 billion and $2.04 billion at September 30, 2023, and December 31, 2022, respectively. A total of $162 million and $488 million were available for sale under these programs as of September 30, 2023, and December 31, 2022, respectively. The company has recorded expense related to its factoring programs of $30 million and $17 million for the three months ended September 30, 2023 and 2022, respectively, and $72 million and $41 million for the nine months ended September 30, 2023 and 2022, respectively, and has presented these amounts in selling, general and administrative in its unaudited condensed consolidated statements of earnings. ​ Other receivables include income and indirect tax receivables, aluminum scrap sale receivables and other miscellaneous receivables.

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 30, 2023
Inventories, Net
Inventories, Net	9. Inventories, Net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Raw materials and supplies ​ $ 1,251 ​ $ 1,541 Work-in-process and finished goods ​ ​ 537 ​ ​ 729 Less: Inventory reserves ​ ​ (100) ​ ​ (91) ​ ​ $ 1,688 ​ $ 2,179 ​

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment, Net.
Property, Plant and Equipment, Net	10. Property, Plant and Equipment, Net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Land ​ $ 217 ​ $ 187 Buildings ​ ​ 2,349 ​ ​ 2,159 Machinery and equipment ​ ​ 7,916 ​ ​ 7,277 Construction-in-progress ​ ​ 1,209 ​ ​ 1,504 ​ ​ ​ 11,691 ​ ​ 11,127 Accumulated depreciation ​ ​ (4,427) ​ ​ (4,074) ​ ​ $ 7,264 ​ $ 7,053 ​ Depreciation expense amounted to $133 million and $117 million for the three months ended September 30, 2023 and 2022, respectively, and $390 million and $386 million for the nine months ended September 30, 2023 and 2022, respectively. ​ During 2022, the company completed an evaluation of the estimated useful lives of its manufacturing equipment, buildings and certain assembly and test equipment. The company utilized a third-party appraiser to assist in the evaluation, which was performed as a result of the company’s experience with the duration over which its equipment can be utilized. Effective July 1, 2022, Ball revised the estimated useful lives of its equipment and buildings, which resulted in a net reduction in depreciation expense of approximately $52 million ($40 million after tax, or $0.13 per diluted share) for the nine months ended September 30, 2023, as compared to the amount of depreciation expense that would have been recognized by utilizing the prior depreciable lives. As the change was effective as of July 1, 2022, there is no impact to comparative prior quarters on a quarter to date basis after June 30, 2023. ​ As discussed in Note 4

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets, Net
Goodwill	11. Goodwill ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) ​ Beverage Packaging, North & Central America ​ Beverage Packaging, EMEA ​ Beverage Packaging, South America ​ Aerospace Other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2022 ​ $ 1,275 ​ $ 1,342 ​ $ 1,298 ​ $ 40 ​ $ 280 ​ $ 4,235 Effects of currency exchange ​ ​ — ​ ​ (20) ​ ​ — ​ ​ — ​ ​ 7 ​ ​ (13) Balance at September 30, 2023 ​ $ 1,275 ​ $ 1,322 ​ $ 1,298 ​ $ 40 ​ $ 287 ​ $ 4,222 ​ ​

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets, Net
Intangible Assets, Net	12. Intangible Assets, Net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Acquired customer relationships and other intangibles (net of accumulated amortization and impairment losses of $1.01 billion at September 30, 2023, and $914 million at December 31, 2022) ​ $ 1,214 ​ $ 1,320 Capitalized software (net of accumulated amortization of $217 million at September 30, 2023, and $204 million at December 31, 2022) ​ ​ 87 ​ ​ 80 Other intangibles (net of accumulated amortization of $95 million at September 30, 2023, and $99 million at December 31, 2022) ​ ​ 14 ​ ​ 17 ​ ​ $ 1,315 ​ $ 1,417 ​ Total amortization expense of intangible assets amounted to $40 million for the three months ended September 30, 2023 and 2022, and $119 million and $124 million for the nine months ended September 30, 2023 and 2022, respectively. ​ As discussed in Note 4

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2023
Other Assets..
Other Assets.	13. Other Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Long-term pension assets ​ $ 372 ​ $ 355 Right-of-use operating lease assets ​ ​ 450 ​ ​ 434 Investments in affiliates ​ ​ 200 ​ ​ 193 Long-term deferred tax assets ​ ​ 72 ​ ​ 73 Other ​ ​ 629 ​ ​ 660 ​ ​ $ 1,723 ​ $ 1,715 ​ ​ ​ Investments in affiliates primarily includes the company’s 50 percent ownership interest in an entity in Guatemala, a 50 percent ownership interest in an entity in Panama, a 50 percent ownership interest in an entity in Vietnam and a 50 percent ownership interest in an entity in the U.S.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases
Leases	14. Leases ​ The company enters into operating leases for buildings, warehouses, office equipment, production equipment, aircraft, land and other types of equipment. The company also enters into finance leases for certain plant equipment. Supplemental balance sheet information related to the company’s leases follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) Balance Sheet Location ​ 2023 ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ Operating leases: ​ ​ ​ ​ ​ ​ ​ Operating lease ROU asset Other assets ​ $ 450 ​ $ 434 Current operating lease liabilities Other current liabilities ​ ​ 96 ​ ​ 91 Noncurrent operating lease liabilities Other liabilities ​ ​ 365 ​ ​ 349 Finance leases: ​ ​ ​ ​ ​ ​ ​ Finance lease ROU assets, net Property, plant and equipment, net ​ ​ 9 ​ ​ 11 Current finance lease liabilities Short-term debt and current portion of long-term debt ​ ​ 2 ​ ​ 2 Noncurrent finance lease liabilities Long-term debt ​ ​ 8 ​ ​ 10 ​

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt
Debt	​ 15. Debt ​ Long-term debt consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Senior Notes ​ ​ ​ ​ ​ ​ 4.00% due November 2023 ​ $ 1,000 ​ $ 1,000 0.875%, euro denominated, due March 2024 ​ ​ 793 ​ ​ 803 5.25% due July 2025 ​ ​ 1,000 ​ ​ 1,000 4.875% due March 2026 ​ ​ 750 ​ ​ 750 1.50%, euro denominated, due March 2027 ​ ​ 582 ​ ​ 589 6.875% due March 2028 ​ ​ 750 ​ ​ 750 6.00% due June 2029 ​ ​ 1,000 ​ ​ — 2.875% due August 2030 ​ ​ 1,300 ​ ​ 1,300 3.125% due September 2031 ​ ​ 850 ​ ​ 850 Senior Credit Facility (at variable rates) ​ ​ ​ ​ ​ ​ U.S. dollar revolver due June 2027 ​ ​ — ​ ​ 200 Term A loan due June 2027 (6.92% - 2023) ​ ​ 1,342 ​ ​ 1,350 Finance lease obligations ​ ​ 10 ​ ​ 12 Other (including debt issuance costs) ​ ​ (65) ​ ​ (61) ​ ​ ​ 9,312 ​ ​ 8,543 Less: Current portion ​ ​ (1,829) ​ ​ (1,003) ​ ​ $ 7,483 ​ $ 7,540 ​ The company’s senior credit facilities include long-term multi-currency revolving facilities that mature in June 2027, which provide the company with up to the U.S. dollar equivalent of $1.75 billion. At September 30, 2023, $1.69 billion was available under these revolving credit facilities. In addition to these facilities, the company had $241 million of committed short-term loans outstanding. The company also had approximately $922 million of short-term uncommitted credit facilities available at September 30, 2023, of which $38 million was outstanding and due on demand. At December 31, 2022, the company had $112 million outstanding under short-term uncommitted credit facilities. ​ In May 2023, Ball issued $1.00 billion of 6.00% senior notes due in 2029, and repaid the outstanding U.S. dollar revolving credit facility due in 2027 in the amount of $800 million. ​ The fair value of Ball’s long-term debt was estimated to be $8.77 billion and $7.99 billion at September 30, 2023 and December 31, 2022, respectively. 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. ​ 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 company’s most restrictive debt covenant requires it to maintain a leverage ratio (as defined) of no greater than 5.0 times, which will change to 4.5 times as of September 30, 2025. Ball was in compliance with the leverage ratio requirement at September 30, 2023, and December 31, 2022.

Taxes on Income

Taxes on Income	9 Months Ended
	Sep. 30, 2023
Taxes on Income
Taxes on Income	16. Taxes on Income ​ The company’s effective tax rate was 1.0 percent and 12.7 percent for the three and nine months ended September 30, 2023, respectively. As compared to the statutory U.S. tax rate, the effective tax rate for the three and nine months ended September 30, 2023, decreased by 23.8 percent and 9.9 percent, respectively, for research and development credits, and by 21.3 percent and 7.1 percent, respectively, for foreign tax credits. The effective tax rate for the three and nine months ended September 30, 2023, increased by 15.5 percent and 5.1 percent, respectively, for increases in valuation allowances. ​ The company’s effective tax rate was 8.6 percent and 17.2 percent for the three and nine months ended September 30, 2022, respectively. As compared to the statutory U.S. tax rate, the effective tax rate for the three and nine months ended September 30, 2022, decreased by 10.8 percent and 5.9 percent, respectively, for the sale of the Russian aluminum beverage packaging business, decreased by 5.1 percent and 2.8 percent, respectively, for non-U.S. rate differences net of withholding taxes and reduced by 2.2 percent and 2.6 percent, respectively, for federal tax credits. The effective rate for the three and nine months ended September 30, 2022, increased by 3.8 percent and 3.0 percent, respectively, for U.S. permanent differences. ​ In July 2023, the U.K. enacted minimum tax legislation consistent with the Organization for Economic Co-operation and Development’s (OECD) Pillar Two Framework that was supported by over 130 countries worldwide. The legislation will be effective for the company beginning on January 1, 2024. A significant number of other countries are also moving forward with similar legislation. The company is currently evaluating the potential impact this legislation may have on its consolidated financial statements beginning in 2024. ​

Employee Benefit Obligations

Employee Benefit Obligations	9 Months Ended
	Sep. 30, 2023
Employee Benefit Obligations
Employee Benefit Obligations	17. Employee Benefit Obligations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ ​ Underfunded defined benefit pension liabilities ​ $ 424 ​ $ 423 Less: Current portion ​ ​ (21) ​ ​ (21) Long-term defined benefit pension liabilities ​ ​ 403 ​ ​ 402 Long-term retiree medical liabilities ​ ​ 88 ​ ​ 94 Deferred compensation plans ​ ​ 254 ​ ​ 286 Other ​ ​ 68 ​ ​ 65 ​ ​ $ 813 ​ $ 847 ​ Components of net periodic benefit cost associated with the company’s defined benefit pension plans were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ ​ 2023 ​ 2022 ($ in millions) U.S. Non-U.S. Total U.S. Non-U.S. Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ball-sponsored plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 14 ​ $ 1 ​ $ 15 ​ $ 22 ​ $ 3 ​ $ 25 Interest cost ​ ​ 21 ​ ​ 21 ​ ​ 42 ​ ​ 13 ​ ​ 12 ​ ​ 25 Expected return on plan assets ​ ​ (28) ​ ​ (26) ​ ​ (54) ​ ​ (27) ​ ​ (15) ​ ​ (42) Amortization of prior service cost ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ 1 Recognized net actuarial loss ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ 7 ​ ​ 1 ​ ​ 8 Settlement losses and other charges (a) ​ ​ 3 ​ ​ — ​ ​ 3 ​ ​ 3 ​ ​ — ​ ​ 3 Total net periodic benefit cost ​ $ 10 ​ $ (2) ​ $ 8 ​ $ 18 ​ $ 2 ​ $ 20 ​ (a) The charges in 2023 and 2022 include plant-related closure charges. These amounts have been recorded in business consolidation and other activities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ 2023 ​ 2022 ($ in millions) U.S. Non-U.S. Total U.S. Non-U.S. Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ball-sponsored plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 40 ​ $ 4 ​ $ 44 ​ $ 66 ​ $ 8 ​ $ 74 Interest cost ​ ​ 64 ​ ​ 64 ​ ​ 128 ​ ​ 40 ​ ​ 36 ​ ​ 76 Expected return on plan assets ​ ​ (85) ​ ​ (76) ​ ​ (161) ​ ​ (81) ​ ​ (47) ​ ​ (128) Amortization of prior service cost ​ ​ — ​ ​ 2 ​ ​ 2 ​ ​ 1 ​ ​ 2 ​ ​ 3 Recognized net actuarial loss ​ ​ 2 ​ ​ 1 ​ ​ 3 ​ ​ 21 ​ ​ 3 ​ ​ 24 Settlement losses and other charges (a) ​ ​ 3 ​ ​ — ​ ​ 3 ​ ​ 3 ​ ​ — ​ ​ 3 Total net periodic benefit cost ​ $ 24 ​ $ (5) ​ $ 19 ​ $ 50 ​ $ 2 ​ $ 52 ​ (a) The charges in 2023 and 2022 include plant-related closure charges. These amounts have been recorded in business consolidation and other activities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-service pension income of $10 million and $8 million for the three months ended September 30, 2023 and 2022, respectively, and income of $28 million and $25 million for the nine months ended September 30, 2023 and 2022, respectively, is included in selling, general, and administrative (SG&A) expenses in the unaudited condensed consolidated statements of earnings. ​ Contributions to the company’s defined benefit pension plans were $13 million for the first nine months of 2023 compared to $113 million for the first nine months of 2022, and such contributions are expected to be approximately $33 million for the full year of 2023. This estimate may change based on changes in the Pension Protection Act, actual plan asset performance and available company cash flow, among other factors. ​

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Earnings (Loss)	9 Months Ended
	Sep. 30, 2023
Equity and Accumulated Other Comprehensive Earnings (Loss)
Equity and Accumulated Other Comprehensive Earnings (Loss)	18. Equity and Accumulated Other Comprehensive Earnings (Loss) ​ The following tables provide additional details of the company’s equity activity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 June 30, 2023 ​ 682,728 ​ $ 1,291 ​ (367,793) ​ $ (4,406) ​ $ 7,533 ​ $ (582) ​ $ 69 ​ $ 3,905 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 203 ​ ​ — ​ ​ 1 ​ ​ 204 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (60) ​ ​ — ​ ​ (60) Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (63) ​ ​ — ​ ​ — ​ ​ (63) Treasury stock purchases ​ — ​ ​ — ​ (8) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Treasury shares reissued ​ — ​ ​ — ​ 139 ​ ​ 8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 168 ​ ​ 13 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 13 Other activity ​ — ​ ​ — ​ — ​ ​ 1 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 Balance at September 30, 2023 ​ 682,896 ​ $ 1,304 ​ (367,662) ​ $ (4,397) ​ $ 7,673 ​ $ (642) ​ $ 70 ​ $ 4,008 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 June 30, 2022 ​ 681,866 ​ $ 1,232 ​ (367,399) ​ $ (4,408) ​ $ 6,987 ​ $ (346) ​ $ 68 ​ $ 3,533 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 392 ​ ​ — ​ ​ 2 ​ ​ 394 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (392) ​ ​ — ​ ​ (392) Currency translation recognized in earnings from the sale of the Russian aluminum beverage packaging business ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 90 ​ ​ — ​ ​ 90 Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (63) ​ ​ — ​ ​ — ​ ​ (63) Treasury stock purchases ​ — ​ ​ — ​ (921) ​ ​ (39) ​ ​ — ​ ​ — ​ ​ — ​ ​ (39) Treasury shares reissued ​ — ​ ​ — ​ 152 ​ ​ 8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 158 ​ ​ 15 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 15 Other activity ​ — ​ ​ — ​ — ​ ​ 3 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3 Balance at September 30, 2022 ​ 682,024 ​ $ 1,247 ​ (368,168) ​ $ (4,436) ​ $ 7,316 ​ $ (648) ​ $ 70 ​ $ 3,549 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2022 ​ 682,144 ​ $ 1,260 ​ (368,036) ​ $ (4,429) ​ $ 7,309 ​ $ (679) ​ $ 66 ​ $ 3,527 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 553 ​ ​ — ​ ​ 4 ​ ​ 557 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 37 ​ ​ — ​ ​ 37 Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (189) ​ ​ — ​ ​ — ​ ​ (189) Treasury stock purchases ​ — ​ ​ — ​ (60) ​ ​ (3) ​ ​ — ​ ​ — ​ ​ — ​ ​ (3) Treasury shares reissued ​ — ​ ​ — ​ 434 ​ ​ 23 ​ ​ — ​ ​ — ​ ​ — ​ ​ 23 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 752 ​ ​ 44 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 44 Other activity ​ — ​ ​ — ​ — ​ ​ 12 ​ ​ — ​ ​ — ​ ​ — ​ ​ 12 Balance at September 30, 2023 ​ 682,896 ​ $ 1,304 ​ (367,662) ​ $ (4,397) ​ $ 7,673 ​ $ (642) ​ $ 70 ​ $ 4,008 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021 ​ 680,945 ​ $ 1,220 ​ (360,101) ​ $ (3,854) ​ $ 6,843 ​ $ (582) ​ $ 58 ​ $ 3,685 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 664 ​ ​ — ​ ​ 12 ​ ​ 676 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (156) ​ ​ — ​ ​ (156) Currency translation recognized in earnings from the sale of the Russian aluminum beverage packaging business ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 90 ​ ​ — ​ ​ 90 Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (191) ​ ​ — ​ ​ — ​ ​ (191) Treasury stock purchases ​ — ​ ​ — ​ (8,384) ​ ​ (617) ​ ​ — ​ ​ — ​ ​ — ​ ​ (617) Treasury shares reissued ​ — ​ ​ — ​ 317 ​ ​ 25 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 1,079 ​ ​ 27 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 27 Other activity ​ — ​ ​ — ​ — ​ ​ 10 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10 Balance at September 30, 2022 ​ 682,024 ​ $ 1,247 ​ (368,168) ​ $ (4,436) ​ $ 7,316 ​ $ (648) ​ $ 70 ​ $ 3,549 ​ In the second quarter of 2022, in a privately negotiated transaction, Ball entered into an accelerated share repurchase agreement to buy $300 million of its common shares. The company paid the $300 million in May 2022, and received 3.45 million shares, which represented approximately 80 percent of the total shares. The company received an additional approximately 662,000 shares during June 2022, and the average price per share paid under this agreement as of June 30, 2022, was $69.25. The remaining shares settled during the third quarter of 2022 and the final per share price paid by Ball under this agreement was $69.06 for a total of 4.34 million shares. ​ Accumulated Other Comprehensive Earnings (Loss) ​ The activity related to accumulated other comprehensive earnings (loss) was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) ​ 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, 2022 ​ $ (434) ​ $ (227) ​ $ (18) ​ $ (679) Other comprehensive earnings (loss) before reclassifications ​ ​ 18 ​ ​ 8 ​ ​ 36 ​ ​ 62 Amounts reclassified into earnings ​ ​ — ​ ​ (2) ​ ​ (23) ​ ​ (25) Balance at September 30, 2023 ​ $ (416) ​ $ (221) ​ $ (5) ​ $ (642) ​ The following table provides additional details of the amounts reclassified into net earnings from accumulated other comprehensive earnings (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (losses) on cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts recorded in net sales ​ $ 29 ​ $ 105 ​ $ 40 ​ $ 23 Commodity contracts recorded in cost of sales ​ ​ (31) ​ ​ (5) ​ ​ (47) ​ ​ 141 Currency exchange contracts recorded in selling, general and administrative ​ ​ 31 ​ ​ 59 ​ ​ 34 ​ ​ 136 Interest rate contracts recorded in interest expense ​ ​ 3 ​ ​ 2 ​ ​ 5 ​ ​ 2 Total before tax effect ​ ​ 32 ​ ​ 161 ​ ​ 32 ​ ​ 302 Tax benefit (expense) on amounts reclassified into earnings ​ ​ (9) ​ ​ (35) ​ ​ (9) ​ ​ (68) Recognized gain (loss), net of tax ​ $ 23 ​ $ 126 ​ $ 23 ​ $ 234 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of pension and other postretirement benefits: (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial gains (losses) ​ $ — ​ $ (8) ​ $ 3 ​ $ (24) Prior service income (expense) ​ ​ — ​ ​ (1) ​ ​ (1) ​ ​ (3) Effect of settlement losses and other one-time charges ​ ​ — ​ ​ (3) ​ ​ — ​ ​ (3) Total before tax effect ​ ​ — ​ ​ (12) ​ ​ 2 ​ ​ (30) Tax benefit (expense) on amounts reclassified into earnings ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 7 Recognized gain (loss), net of tax ​ $ — ​ $ (10) ​ $ 2 ​ $ (23) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business ​ $ — ​ $ 90 ​ $ — ​ $ 90 (a) These components are included in the computation of net periodic benefit cost detailed in Note 17 .

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	9 Months Ended
	Sep. 30, 2023
Earnings (Loss) and Dividends Per Share
Earnings (Loss) and Dividends Per Share	19. Earnings and Dividends Per Share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions, except per share amounts; shares in thousands) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Ball Corporation ​ $ 203 ​ $ 392 ​ $ 553 ​ $ 664 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares ​ ​ 314,983 ​ ​ 314,054 ​ ​ 314,596 ​ ​ 317,296 Effect of dilutive securities ​ ​ 2,313 ​ ​ 3,007 ​ ​ 2,342 ​ ​ 3,926 Weighted average shares applicable to diluted earnings per share ​ ​ 317,296 ​ ​ 317,061 ​ ​ 316,938 ​ ​ 321,222 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per basic share ​ $ 0.64 ​ $ 1.25 ​ $ 1.76 ​ $ 2.09 Per diluted share ​ $ 0.64 ​ $ 1.24 ​ $ 1.74 ​ $ 2.07 ​ Certain outstanding options and SSARs were excluded from the diluted earnings per share calculation because they were anti-dilutive. The excluded options and SSARs totaled approximately 4 million for the three months ended September 30, 2023 and 2022, and 4 million and 3 million for the nine months ended September 30, 2023 and 2022, respectively. ​ The company declared and paid dividends of $0.20 per share for the three months ended September 30, 2023 and 2022, and $0.60 per share for the nine months ended September 30, 2023 and 2022.

Financial Instruments and Risk

Financial Instruments and Risk Management	9 Months Ended
	Sep. 30, 2023
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 - ​ Interest Rate Risk - ​ Currency Exchange Rate Risk - The company’s objective in managing exposure to currency fluctuations is to limit the exposure of cash flows and earnings from changes associated with currency exchange rate changes through the use of various derivative contracts. In addition, at times the company manages earnings translation volatility through the use of currency option strategies, and the change in the fair value of those options is recorded in the company’s net earnings. ​ The following table provides additional information related to the commercial risk management derivative instruments described above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) ​ September 30, 2023 Commercial risk area ​ Commodity Currency Interest Rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional amount of contracts ​ $ 1,181 ​ $ 2,960 ​ $ 811 Net gain (loss) included in AOCI, after-tax ​ ​ (23) ​ ​ — ​ ​ 18 Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months ​ ​ (23) ​ ​ — ​ ​ 18 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Longest duration of forecasted cash flow hedge transactions in years ​ ​ 1 ​ ​ 1 ​ ​ 4 ​ 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 June 2024, and which have a combined notional value of 2.3 million shares. Based on the current number of shares in the program, each $1 change in the company’s stock price would have an insignificant impact on pretax earnings, net of the impact of related derivatives. ​ Fair Value Measurements ​ Ball has classified all applicable financial derivative assets and liabilities as Level 2 within the fair value hierarchy as of September 30, 2023, and December 31, 2022, and presented those values in the tables below. The company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ($ in millions) Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 13 ​ $ — ​ $ 13 Currency contracts ​ ​ ​ 93 ​ ​ 44 ​ ​ 137 Interest rate and other contracts ​ ​ ​ 23 ​ ​ — ​ ​ 23 Total current derivative contracts Other current assets ​ $ 129 ​ $ 44 ​ $ 173 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 1 ​ $ — ​ $ 1 Total noncurrent derivative contracts Other noncurrent assets ​ $ 1 ​ $ — ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 34 ​ $ 1 ​ $ 35 Currency contracts ​ ​ ​ — ​ ​ 12 ​ ​ 12 Interest rate and other contracts ​ ​ ​ — ​ ​ 9 ​ ​ 9 Total current derivative contracts Other current liabilities ​ $ 34 ​ $ 22 ​ $ 56 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 1 ​ $ — ​ $ 1 Total noncurrent derivative contracts Other noncurrent liabilities ​ $ 1 ​ $ — ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ($ in millions) Balance Sheet Location ​ Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 11 ​ $ — ​ $ 11 Currency contracts ​ ​ ​ — ​ ​ 28 ​ ​ 28 Total current derivative contracts Other current assets ​ $ 11 ​ $ 28 ​ $ 39 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency contracts ​ ​ $ 84 ​ $ — ​ $ 84 Total noncurrent derivative contracts Other noncurrent assets ​ $ 84 ​ $ — ​ $ 84 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 48 ​ $ — ​ $ 48 Currency contracts ​ ​ ​ 1 ​ ​ 35 ​ ​ 36 Other contracts ​ ​ ​ — ​ ​ 12 ​ ​ 12 Total current derivative contracts Other current liabilities ​ $ 49 ​ $ 47 ​ $ 96 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency contracts ​ ​ $ — ​ $ 1 ​ $ 1 Total noncurrent derivative contracts Other noncurrent liabilities ​ $ — ​ $ 1 ​ $ 1 ​ 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 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. The company values each of its financial instruments either internally using a single valuation technique, from a reliable observable market source or from third-party software. The present value discounting factor is based on the comparable time period Secured Overnight Financing Rate (SOFR), London Inter-Bank Offered Rate (LIBOR) or 12-month LIBOR. Ball performs validations of the company’s internally derived fair values reported for the company’s financial instruments on a quarterly basis utilizing counterparty valuation statements. The company additionally evaluates counterparty creditworthiness and, as of September 30, 2023, has not identified any circumstances requiring the reported values of the company’s financial instruments be adjusted. ​ The following tables provide the effects of derivative instruments in the unaudited condensed consolidated statements of earnings and on accumulated other comprehensive earnings (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ ​ ​ ​ 2023 ​ 2022 ($ in millions) Location of Gain (Loss) Recognized in Earnings on Derivatives Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts - manage exposure to customer pricing ​ Net sales ​ $ 29 ​ $ — ​ $ 105 ​ $ — Commodity contracts - manage exposure to supplier pricing ​ Cost of sales ​ ​ (31) ​ ​ 13 ​ ​ (5) ​ ​ 37 Interest rate contracts - manage exposure for outstanding debt ​ Interest expense ​ ​ 3 ​ ​ (2) ​ ​ 2 ​ ​ 5 Currency contracts - manage currency exposure ​ Selling, general and administrative ​ ​ 31 ​ ​ 51 ​ ​ 59 ​ ​ 28 Equity contracts ​ Selling, general and administrative ​ ​ — ​ ​ (20) ​ ​ — ​ ​ (51) Total ​ ​ ​ $ 32 ​ $ 42 ​ $ 161 ​ $ 19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ($ in millions) Location of Gain (Loss) Recognized in Earnings on Derivatives Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts - manage exposure to customer pricing ​ Net sales ​ $ 40 ​ $ — ​ $ 23 ​ $ — ​ Commodity contracts - manage exposure to supplier pricing ​ Cost of sales ​ ​ (47) ​ ​ 12 ​ ​ 141 ​ ​ 17 ​ Interest rate contracts - manage exposure for outstanding debt ​ Interest expense ​ ​ 5 ​ ​ (7) ​ ​ 2 ​ ​ 9 ​ Currency contracts - manage currency exposure ​ Selling, general and administrative ​ ​ 34 ​ ​ 49 ​ ​ 136 ​ ​ 88 ​ Equity contracts ​ Selling, general and administrative ​ ​ — ​ ​ (5) ​ ​ — ​ ​ (120) ​ Total ​ ​ ​ $ 32 ​ $ 49 ​ $ 302 ​ $ (6) ​ ​ The changes in accumulated other comprehensive earnings (loss) for derivatives designated as hedges were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified into earnings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ $ 2 ​ $ (100) ​ $ 7 ​ $ (164) Interest rate contracts ​ ​ (3) ​ ​ (2) ​ ​ (5) ​ ​ (2) Currency exchange contracts ​ ​ (31) ​ ​ (59) ​ ​ (34) ​ ​ (136) Change in fair value of cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ (35) ​ ​ (32) ​ ​ (11) ​ ​ 30 Interest rate contracts ​ ​ 6 ​ ​ — ​ ​ 28 ​ ​ 1 Currency exchange contracts ​ ​ 31 ​ ​ 62 ​ ​ 29 ​ ​ 123 Currency and tax impacts ​ ​ 11 ​ ​ 34 ​ ​ (1) ​ ​ 32 ​ ​ $ (19) ​ $ (97) ​ $ 13 ​ $ (116) ​

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2023
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 non-U.S. 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, the company has 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 ​ 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. On June 21, 2019, the District Court issued an order sustaining the BMBCC/RBCC motion as to invalidity, declining to rule on the other grounds as moot, and indicating that an expanded opinion and an appealable order would be forthcoming. The expanded opinion was docketed on July 22, 2019. The final, appealable order was issued by the Court on September 25, 2019, and the expanded opinion was unsealed. On October 22, 2019, Crown filed a Notice of Appeal of the decision of the Court to the Court of Appeals for the Federal Circuit. On December 31, 2020, the Court of Appeals vacated the decision of the District Court and remanded the case for further proceedings. The District Court held a telephonic hearing with counsel for the parties in March 2021 to discuss the scope of the proceedings on remand and initial position statements regarding remand which was submitted by each party. The District Court also directed each party to submit a document in response to the initial position statements of the other party in April 2021. The parties submitted their position statements to the District Court on April 21, 2021. On August 25, 2021, the Court issued its order regarding the further proceedings permitting each party to submit supplemental expert reports and depositions of the experts. On September 9, 2021, the parties submitted a Submission Regarding Scheduling in which most issues were agreed, but the Court was requested to resolve a disagreement regarding the process and timing for the submission of each expert’s report and the deposition of the experts. The Court issued its Order resolving the disagreement on August 12, 2022, and issued a further Scheduling Order on August 30, 2022, that outlines the litigation process and schedule for the proceedings on remand over the following twelve months. On March 10, 2023, Ball filed its renewed Motion for Summary Judgment based on indefiniteness with the Court. Crown subsequently filed a surreply brief on the motion to which Ball responded, and Crown requested leave to file its own motion for summary judgment on indefiniteness, which was opposed by Ball. On August 2, 2023, the Court granted Ball’s motion for summary judgment and found that the relevant patents are invalid because of indefiniteness. Based on the information available at the present time, the company does not believe that this matter will have a material adverse effect upon its liquidity, results of operations or financial condition. ​ 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 regulatory permit (Prefectoral Order) was issued in June 2016, which included 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 management plan based on the findings of this analysis was proposed to the French environmental authorities in 2018. Following discussions with the authorities, the final proposals for remediation works and subsequent monitoring have been agreed and were included in a Prefectural Order issued by the French Authorities in December 2022. Contracts have also recently been signed with the preferred supplier of the remedial works and those works commenced in the first half of 2023. Based on the information available at this time, the company does not believe that this matter will have a material adverse effect upon its liquidity, results of operations or financial condition. ​ The company’s operations in Brazil are involved in various governmental assessments, which have historically mainly related to claims for taxes on the internal transfer of inventory, gross revenue taxes, and indirect tax incentives and deductibility of goodwill. In addition, one of the company’s Brazilian subsidiaries received an income tax assessment focused on the disallowance of deductions associated with the acquisition price paid to a third party for a portion of its operations. The company does not believe that the ultimate resolution of these matters will materially impact its 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. ​ On October 7, 2021, the French Autorité de la concurrence (the French Competition Authority or “FCA”) issued a statement of objections to 14 trade associations, one public entity and 101 legal entities from 28 corporate groups, including the company, other leading metal can manufacturers, certain can fillers and certain retailers in France. The FCA alleged violations of Articles 101 of the Treaty on the Functioning of the European Union and L.420-1 of the French Commercial Code. The statement of objections alleges, among other things, anti-competitive behavior in connection with the removal of bisphenol-A from metal packaging in France. The removal of bisphenol-A was mandated by French legislation that went into effect in 2015. If the FCA finds that the company violated competition law, the FCA may levy fines. The oral hearing in the matter took place in January this year and the first instance decision is likely to be made late this year or Q1 of 2024. The Company is unable to predict the ultimate outcome, and the company is vigorously defending against the allegations in the statement of objections. ​

Indemnifications and Guarantees

Indemnifications and Guarantees	9 Months Ended
	Sep. 30, 2023
Indemnifications and Guarantees
Indemnifications and Guarantees	22. Indemnifications and Guarantees ​ General Guarantees ​ The company or its appropriate consolidated direct or indirect 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, renewable energy purchase contract or other commitment; guarantees in respect of certain non-U.S. 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. ​ The company has not recorded any material liabilities for these indemnities, commitments and guarantees in the accompanying unaudited condensed 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 certain 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 non-U.S. subsidiaries under the senior credit facilities, the obligations of non-U.S. 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. 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 they 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 and/or the credit agreement. The maximum potential amounts which could be required to be paid under such guarantees are essentially equal to then-outstanding obligations under the respective senior notes or the credit agreement (or, in the case of U.S. domiciled non-U.S. subsidiaries under the senior credit facilities, the obligations of non-U.S. credit parties only), with certain exceptions. All obligations under the guarantees of the senior credit facilities are secured, with certain exceptions, 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 non-U.S. subsidiaries directly owned by the company or any of its wholly owned domestic subsidiaries. In addition, the obligations of certain non-U.S. borrowers and non-U.S. pledgors under the loan documents will be secured, with certain exceptions, 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 non-U.S. subsidiaries and material wholly owned U.S. domiciled non-U.S. subsidiaries directly owned by the company or any of its wholly owned material subsidiaries. The company is not in default under the above-referenced senior notes or senior credit facilities.

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Business Segment Information
Summary of business by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beverage packaging, North and Central America ​ $ 1,541 ​ $ 1,800 ​ $ 4,582 ​ $ 5,184 Beverage packaging, EMEA ​ ​ 902 ​ ​ 1,031 ​ ​ 2,656 ​ ​ 3,106 Beverage packaging, South America ​ ​ 489 ​ ​ 466 ​ ​ 1,344 ​ ​ 1,494 Aerospace ​ ​ 460 ​ ​ 477 ​ ​ 1,467 ​ ​ 1,471 Reportable segment sales ​ ​ 3,392 ​ ​ 3,774 ​ ​ 10,049 ​ ​ 11,255 Other ​ ​ 179 ​ ​ 177 ​ ​ 577 ​ ​ 546 Net sales ​ $ 3,571 ​ $ 3,951 ​ $ 10,626 ​ $ 11,801 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comparable operating earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beverage packaging, North and Central America ​ $ 196 ​ $ 205 ​ $ 554 ​ $ 543 Beverage packaging, EMEA ​ ​ 103 ​ ​ 82 ​ ​ 274 ​ ​ 311 Beverage packaging, South America ​ ​ 61 ​ ​ 67 ​ ​ 141 ​ ​ 197 Aerospace ​ ​ 46 ​ ​ 47 ​ ​ 160 ​ ​ 126 Reportable segment comparable operating earnings ​ ​ 406 ​ ​ 401 ​ ​ 1,129 ​ ​ 1,177 Reconciling items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other (a) ​ ​ — ​ ​ (8) ​ ​ 7 ​ ​ (26) Business consolidation and other activities ​ ​ (47) ​ ​ 163 ​ ​ (61) ​ ​ (23) Amortization of acquired intangibles ​ ​ (34) ​ ​ (33) ​ ​ (102) ​ ​ (102) Earnings before interest and taxes ​ ​ 325 ​ ​ 523 ​ ​ 973 ​ ​ 1,026 Interest expense ​ ​ (122) ​ ​ (79) ​ ​ (350) ​ ​ (216) Debt refinancing and other costs ​ ​ — ​ ​ — ​ ​ — ​ ​ (2) Total interest expense ​ ​ (122) ​ ​ (79) ​ ​ (350) ​ ​ (218) Earnings before taxes ​ $ 203 ​ $ 444 ​ $ 623 ​ $ 808 (a) Includes undistributed corporate expenses, net, of $18 million and $25 million for the three months ended September 30, 2023 and 2022, respectively , and $60 million and $73 million for the nine months ended September 30, 2023 and 2022, respectively. ​

Revenue from Contracts With C_2

Revenue from Contracts With Customers (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contracts with Customers
Schedule of the disaggregation of revenue by timing of transfer of control	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 632 ​ $ 2,939 ​ $ 3,571 ​ $ 1,736 ​ $ 8,890 ​ $ 10,626 2022 ​ ​ 725 ​ ​ 3,226 ​ ​ 3,951 ​ ​ 2,031 ​ ​ 9,770 ​ ​ 11,801
Schedule of balances of contract liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract ​ Contract ​ ​ Liabilities ​ Liabilities ($ in millions) (Current) ​ (Noncurrent) ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2022 ​ $ 316 ​ $ 12 Increase (decrease) ​ ​ (9) ​ ​ (3) Balance at September 30, 2023 ​ $ 307 ​ $ 9 ​ ​ ​ ​ ​ ​ ​
Schedule of transaction price allocated to remaining performance obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) Next Twelve Months ​ Thereafter ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales expected to be recognized on multi-year contracts in place as of September 30, 2023 ​ $ 1,378 ​ $ 1,473 ​ $ 2,851 ​

Business Consolidation and Ot_2

Business Consolidation and Other Activities (Tables)	9 Months Ended
	Sep. 30, 2023
Business Consolidation and Other Activities
Summary of business consolidation and other activity (charges) / income included in the condensed consolidated statements of earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beverage packaging, North and Central America ​ $ (10) ​ $ (36) ​ $ (27) ​ $ (37) Beverage packaging, EMEA ​ ​ 1 ​ ​ 214 ​ ​ 6 ​ ​ (225) Beverage packaging, South America ​ ​ (6) ​ ​ (9) ​ ​ (7) ​ ​ (31) Other ​ ​ (32) ​ ​ (6) ​ ​ (33) ​ ​ 270 ​ ​ $ (47) ​ $ 163 ​ $ (61) ​ $ (23)

Supplemental Cash Flow Statem_2

Supplemental Cash Flow Statement Disclosures (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Statement Disclosures
Schedule of cash, cash equivalents and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ Beginning of period: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 548 $ 563 Current restricted cash (included in other current assets) ​ ​ 10 ​ 16 Total cash, cash equivalents and restricted cash ​ $ 558 $ 579 ​ ​ ​ ​ ​ ​ End of period: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,335 $ 473 Current restricted cash (included in other current assets) ​ ​ 14 ​ 23 Total cash, cash equivalents and restricted cash ​ $ 1,349 $ 496
Summary of PP&E acquired but not yet paid	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ Beginning of period: ​ ​ ​ ​ ​ PP&E acquired but not yet paid ​ $ 392 $ 540 ​ ​ ​ ​ ​ ​ ​ End of period: ​ ​ ​ ​ ​ PP&E acquired but not yet paid ​ $ 207 $ 461 ​

Receivables, Net (Tables)

Receivables, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables, Net
Schedule of receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ ​ Trade accounts receivable ​ $ 883 ​ $ 1,373 Unbilled receivables ​ ​ 789 ​ ​ 746 Less: Allowance for doubtful accounts ​ ​ (12) ​ ​ (12) Net trade accounts receivable ​ ​ 1,660 ​ ​ 2,107 Other receivables ​ ​ 399 ​ ​ 487 ​ ​ $ 2,059 ​ $ 2,594

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Inventories, Net
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Raw materials and supplies ​ $ 1,251 ​ $ 1,541 Work-in-process and finished goods ​ ​ 537 ​ ​ 729 Less: Inventory reserves ​ ​ (100) ​ ​ (91) ​ ​ $ 1,688 ​ $ 2,179 ​

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment, Net.
Schedule of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Land ​ $ 217 ​ $ 187 Buildings ​ ​ 2,349 ​ ​ 2,159 Machinery and equipment ​ ​ 7,916 ​ ​ 7,277 Construction-in-progress ​ ​ 1,209 ​ ​ 1,504 ​ ​ ​ 11,691 ​ ​ 11,127 Accumulated depreciation ​ ​ (4,427) ​ ​ (4,074) ​ ​ $ 7,264 ​ $ 7,053

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets, Net
Schedule of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) ​ Beverage Packaging, North & Central America ​ Beverage Packaging, EMEA ​ Beverage Packaging, South America ​ Aerospace Other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2022 ​ $ 1,275 ​ $ 1,342 ​ $ 1,298 ​ $ 40 ​ $ 280 ​ $ 4,235 Effects of currency exchange ​ ​ — ​ ​ (20) ​ ​ — ​ ​ — ​ ​ 7 ​ ​ (13) Balance at September 30, 2023 ​ $ 1,275 ​ $ 1,322 ​ $ 1,298 ​ $ 40 ​ $ 287 ​ $ 4,222

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets, Net
Schedule of Finite-Lived Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Acquired customer relationships and other intangibles (net of accumulated amortization and impairment losses of $1.01 billion at September 30, 2023, and $914 million at December 31, 2022) ​ $ 1,214 ​ $ 1,320 Capitalized software (net of accumulated amortization of $217 million at September 30, 2023, and $204 million at December 31, 2022) ​ ​ 87 ​ ​ 80 Other intangibles (net of accumulated amortization of $95 million at September 30, 2023, and $99 million at December 31, 2022) ​ ​ 14 ​ ​ 17 ​ ​ $ 1,315 ​ $ 1,417

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Other Assets..
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Long-term pension assets ​ $ 372 ​ $ 355 Right-of-use operating lease assets ​ ​ 450 ​ ​ 434 Investments in affiliates ​ ​ 200 ​ ​ 193 Long-term deferred tax assets ​ ​ 72 ​ ​ 73 Other ​ ​ 629 ​ ​ 660 ​ ​ $ 1,723 ​ $ 1,715

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases
Schedule of supplemental balance sheet information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) Balance Sheet Location ​ 2023 ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ Operating leases: ​ ​ ​ ​ ​ ​ ​ Operating lease ROU asset Other assets ​ $ 450 ​ $ 434 Current operating lease liabilities Other current liabilities ​ ​ 96 ​ ​ 91 Noncurrent operating lease liabilities Other liabilities ​ ​ 365 ​ ​ 349 Finance leases: ​ ​ ​ ​ ​ ​ ​ Finance lease ROU assets, net Property, plant and equipment, net ​ ​ 9 ​ ​ 11 Current finance lease liabilities Short-term debt and current portion of long-term debt ​ ​ 2 ​ ​ 2 Noncurrent finance lease liabilities Long-term debt ​ ​ 8 ​ ​ 10 ​

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) 2023 2022 ​ ​ ​ ​ ​ ​ ​ Senior Notes ​ ​ ​ ​ ​ ​ 4.00% due November 2023 ​ $ 1,000 ​ $ 1,000 0.875%, euro denominated, due March 2024 ​ ​ 793 ​ ​ 803 5.25% due July 2025 ​ ​ 1,000 ​ ​ 1,000 4.875% due March 2026 ​ ​ 750 ​ ​ 750 1.50%, euro denominated, due March 2027 ​ ​ 582 ​ ​ 589 6.875% due March 2028 ​ ​ 750 ​ ​ 750 6.00% due June 2029 ​ ​ 1,000 ​ ​ — 2.875% due August 2030 ​ ​ 1,300 ​ ​ 1,300 3.125% due September 2031 ​ ​ 850 ​ ​ 850 Senior Credit Facility (at variable rates) ​ ​ ​ ​ ​ ​ U.S. dollar revolver due June 2027 ​ ​ — ​ ​ 200 Term A loan due June 2027 (6.92% - 2023) ​ ​ 1,342 ​ ​ 1,350 Finance lease obligations ​ ​ 10 ​ ​ 12 Other (including debt issuance costs) ​ ​ (65) ​ ​ (61) ​ ​ ​ 9,312 ​ ​ 8,543 Less: Current portion ​ ​ (1,829) ​ ​ (1,003) ​ ​ $ 7,483 ​ $ 7,540

Employee Benefit Obligations (T

Employee Benefit Obligations (Tables)	9 Months Ended
	Sep. 30, 2023
Employee Benefit Obligations
Schedule of employee benefit obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ($ in millions) ​ 2023 2022 ​ ​ ​ ​ ​ ​ ​ Underfunded defined benefit pension liabilities ​ $ 424 ​ $ 423 Less: Current portion ​ ​ (21) ​ ​ (21) Long-term defined benefit pension liabilities ​ ​ 403 ​ ​ 402 Long-term retiree medical liabilities ​ ​ 88 ​ ​ 94 Deferred compensation plans ​ ​ 254 ​ ​ 286 Other ​ ​ 68 ​ ​ 65 ​ ​ $ 813 ​ $ 847
Defined Benefit Pension Plans
Employee Benefit Obligations
Components of net periodic benefit cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ ​ 2023 ​ 2022 ($ in millions) U.S. Non-U.S. Total U.S. Non-U.S. Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ball-sponsored plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 14 ​ $ 1 ​ $ 15 ​ $ 22 ​ $ 3 ​ $ 25 Interest cost ​ ​ 21 ​ ​ 21 ​ ​ 42 ​ ​ 13 ​ ​ 12 ​ ​ 25 Expected return on plan assets ​ ​ (28) ​ ​ (26) ​ ​ (54) ​ ​ (27) ​ ​ (15) ​ ​ (42) Amortization of prior service cost ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ 1 Recognized net actuarial loss ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ 7 ​ ​ 1 ​ ​ 8 Settlement losses and other charges (a) ​ ​ 3 ​ ​ — ​ ​ 3 ​ ​ 3 ​ ​ — ​ ​ 3 Total net periodic benefit cost ​ $ 10 ​ $ (2) ​ $ 8 ​ $ 18 ​ $ 2 ​ $ 20 ​ (a) The charges in 2023 and 2022 include plant-related closure charges. These amounts have been recorded in business consolidation and other activities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ 2023 ​ 2022 ($ in millions) U.S. Non-U.S. Total U.S. Non-U.S. Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ball-sponsored plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 40 ​ $ 4 ​ $ 44 ​ $ 66 ​ $ 8 ​ $ 74 Interest cost ​ ​ 64 ​ ​ 64 ​ ​ 128 ​ ​ 40 ​ ​ 36 ​ ​ 76 Expected return on plan assets ​ ​ (85) ​ ​ (76) ​ ​ (161) ​ ​ (81) ​ ​ (47) ​ ​ (128) Amortization of prior service cost ​ ​ — ​ ​ 2 ​ ​ 2 ​ ​ 1 ​ ​ 2 ​ ​ 3 Recognized net actuarial loss ​ ​ 2 ​ ​ 1 ​ ​ 3 ​ ​ 21 ​ ​ 3 ​ ​ 24 Settlement losses and other charges (a) ​ ​ 3 ​ ​ — ​ ​ 3 ​ ​ 3 ​ ​ — ​ ​ 3 Total net periodic benefit cost ​ $ 24 ​ $ (5) ​ $ 19 ​ $ 50 ​ $ 2 ​ $ 52 ​ (a) The charges in 2023 and 2022 include plant-related closure charges. These amounts have been recorded in business consolidation and other activities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Equity and Accumulated Other _2

Equity and Accumulated Other Comprehensive Earnings (Loss) (Tables)	9 Months Ended
	Sep. 30, 2023
Equity and Accumulated Other Comprehensive Earnings (Loss)
Schedule of company's equity activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 June 30, 2023 ​ 682,728 ​ $ 1,291 ​ (367,793) ​ $ (4,406) ​ $ 7,533 ​ $ (582) ​ $ 69 ​ $ 3,905 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 203 ​ ​ — ​ ​ 1 ​ ​ 204 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (60) ​ ​ — ​ ​ (60) Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (63) ​ ​ — ​ ​ — ​ ​ (63) Treasury stock purchases ​ — ​ ​ — ​ (8) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Treasury shares reissued ​ — ​ ​ — ​ 139 ​ ​ 8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 168 ​ ​ 13 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 13 Other activity ​ — ​ ​ — ​ — ​ ​ 1 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 Balance at September 30, 2023 ​ 682,896 ​ $ 1,304 ​ (367,662) ​ $ (4,397) ​ $ 7,673 ​ $ (642) ​ $ 70 ​ $ 4,008 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 June 30, 2022 ​ 681,866 ​ $ 1,232 ​ (367,399) ​ $ (4,408) ​ $ 6,987 ​ $ (346) ​ $ 68 ​ $ 3,533 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 392 ​ ​ — ​ ​ 2 ​ ​ 394 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (392) ​ ​ — ​ ​ (392) Currency translation recognized in earnings from the sale of the Russian aluminum beverage packaging business ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 90 ​ ​ — ​ ​ 90 Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (63) ​ ​ — ​ ​ — ​ ​ (63) Treasury stock purchases ​ — ​ ​ — ​ (921) ​ ​ (39) ​ ​ — ​ ​ — ​ ​ — ​ ​ (39) Treasury shares reissued ​ — ​ ​ — ​ 152 ​ ​ 8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 158 ​ ​ 15 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 15 Other activity ​ — ​ ​ — ​ — ​ ​ 3 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3 Balance at September 30, 2022 ​ 682,024 ​ $ 1,247 ​ (368,168) ​ $ (4,436) ​ $ 7,316 ​ $ (648) ​ $ 70 ​ $ 3,549 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2022 ​ 682,144 ​ $ 1,260 ​ (368,036) ​ $ (4,429) ​ $ 7,309 ​ $ (679) ​ $ 66 ​ $ 3,527 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 553 ​ ​ — ​ ​ 4 ​ ​ 557 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 37 ​ ​ — ​ ​ 37 Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (189) ​ ​ — ​ ​ — ​ ​ (189) Treasury stock purchases ​ — ​ ​ — ​ (60) ​ ​ (3) ​ ​ — ​ ​ — ​ ​ — ​ ​ (3) Treasury shares reissued ​ — ​ ​ — ​ 434 ​ ​ 23 ​ ​ — ​ ​ — ​ ​ — ​ ​ 23 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 752 ​ ​ 44 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 44 Other activity ​ — ​ ​ — ​ — ​ ​ 12 ​ ​ — ​ ​ — ​ ​ — ​ ​ 12 Balance at September 30, 2023 ​ 682,896 ​ $ 1,304 ​ (367,662) ​ $ (4,397) ​ $ 7,673 ​ $ (642) ​ $ 70 ​ $ 4,008 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021 ​ 680,945 ​ $ 1,220 ​ (360,101) ​ $ (3,854) ​ $ 6,843 ​ $ (582) ​ $ 58 ​ $ 3,685 Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ 664 ​ ​ — ​ ​ 12 ​ ​ 676 Other comprehensive earnings (loss), net of tax ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (156) ​ ​ — ​ ​ (156) Currency translation recognized in earnings from the sale of the Russian aluminum beverage packaging business ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 90 ​ ​ — ​ ​ 90 Common dividends, net of tax benefits ​ — ​ ​ — ​ — ​ ​ — ​ ​ (191) ​ ​ — ​ ​ — ​ ​ (191) Treasury stock purchases ​ — ​ ​ — ​ (8,384) ​ ​ (617) ​ ​ — ​ ​ — ​ ​ — ​ ​ (617) Treasury shares reissued ​ — ​ ​ — ​ 317 ​ ​ 25 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged ​ 1,079 ​ ​ 27 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 27 Other activity ​ — ​ ​ — ​ — ​ ​ 10 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10 Balance at September 30, 2022 ​ 682,024 ​ $ 1,247 ​ (368,168) ​ $ (4,436) ​ $ 7,316 ​ $ (648) ​ $ 70 ​ $ 3,549
Schedule of activity related to accumulated other comprehensive earnings (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) ​ 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, 2022 ​ $ (434) ​ $ (227) ​ $ (18) ​ $ (679) Other comprehensive earnings (loss) before reclassifications ​ ​ 18 ​ ​ 8 ​ ​ 36 ​ ​ 62 Amounts reclassified into earnings ​ ​ — ​ ​ (2) ​ ​ (23) ​ ​ (25) Balance at September 30, 2023 ​ $ (416) ​ $ (221) ​ $ (5) ​ $ (642) ​
Information related to amounts reclassified into net earnings from accumulated other comprehensive earnings (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (losses) on cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts recorded in net sales ​ $ 29 ​ $ 105 ​ $ 40 ​ $ 23 Commodity contracts recorded in cost of sales ​ ​ (31) ​ ​ (5) ​ ​ (47) ​ ​ 141 Currency exchange contracts recorded in selling, general and administrative ​ ​ 31 ​ ​ 59 ​ ​ 34 ​ ​ 136 Interest rate contracts recorded in interest expense ​ ​ 3 ​ ​ 2 ​ ​ 5 ​ ​ 2 Total before tax effect ​ ​ 32 ​ ​ 161 ​ ​ 32 ​ ​ 302 Tax benefit (expense) on amounts reclassified into earnings ​ ​ (9) ​ ​ (35) ​ ​ (9) ​ ​ (68) Recognized gain (loss), net of tax ​ $ 23 ​ $ 126 ​ $ 23 ​ $ 234 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of pension and other postretirement benefits: (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial gains (losses) ​ $ — ​ $ (8) ​ $ 3 ​ $ (24) Prior service income (expense) ​ ​ — ​ ​ (1) ​ ​ (1) ​ ​ (3) Effect of settlement losses and other one-time charges ​ ​ — ​ ​ (3) ​ ​ — ​ ​ (3) Total before tax effect ​ ​ — ​ ​ (12) ​ ​ 2 ​ ​ (30) Tax benefit (expense) on amounts reclassified into earnings ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 7 Recognized gain (loss), net of tax ​ $ — ​ $ (10) ​ $ 2 ​ $ (23) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business ​ $ — ​ $ 90 ​ $ — ​ $ 90 (a) These components are included in the computation of net periodic benefit cost detailed in Note 17 .

Earnings and Dividends Per Sh_2

Earnings and Dividends Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings (Loss) and Dividends Per Share
Schedule of earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions, except per share amounts; shares in thousands) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Ball Corporation ​ $ 203 ​ $ 392 ​ $ 553 ​ $ 664 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares ​ ​ 314,983 ​ ​ 314,054 ​ ​ 314,596 ​ ​ 317,296 Effect of dilutive securities ​ ​ 2,313 ​ ​ 3,007 ​ ​ 2,342 ​ ​ 3,926 Weighted average shares applicable to diluted earnings per share ​ ​ 317,296 ​ ​ 317,061 ​ ​ 316,938 ​ ​ 321,222 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per basic share ​ $ 0.64 ​ $ 1.25 ​ $ 1.76 ​ $ 2.09 Per diluted share ​ $ 0.64 ​ $ 1.24 ​ $ 1.74 ​ $ 2.07

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	9 Months Ended
	Sep. 30, 2023
Financial Instruments and Risk Management
Schedule of additional information related to the commercial risk management instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) ​ September 30, 2023 Commercial risk area ​ Commodity Currency Interest Rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional amount of contracts ​ $ 1,181 ​ $ 2,960 ​ $ 811 Net gain (loss) included in AOCI, after-tax ​ ​ (23) ​ ​ — ​ ​ 18 Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months ​ ​ (23) ​ ​ — ​ ​ 18 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Longest duration of forecasted cash flow hedge transactions in years ​ ​ 1 ​ ​ 1 ​ ​ 4
Schedule of fair value of derivative instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ($ in millions) Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 13 ​ $ — ​ $ 13 Currency contracts ​ ​ ​ 93 ​ ​ 44 ​ ​ 137 Interest rate and other contracts ​ ​ ​ 23 ​ ​ — ​ ​ 23 Total current derivative contracts Other current assets ​ $ 129 ​ $ 44 ​ $ 173 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 1 ​ $ — ​ $ 1 Total noncurrent derivative contracts Other noncurrent assets ​ $ 1 ​ $ — ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 34 ​ $ 1 ​ $ 35 Currency contracts ​ ​ ​ — ​ ​ 12 ​ ​ 12 Interest rate and other contracts ​ ​ ​ — ​ ​ 9 ​ ​ 9 Total current derivative contracts Other current liabilities ​ $ 34 ​ $ 22 ​ $ 56 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 1 ​ $ — ​ $ 1 Total noncurrent derivative contracts Other noncurrent liabilities ​ $ 1 ​ $ — ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ($ in millions) Balance Sheet Location ​ Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 11 ​ $ — ​ $ 11 Currency contracts ​ ​ ​ — ​ ​ 28 ​ ​ 28 Total current derivative contracts Other current assets ​ $ 11 ​ $ 28 ​ $ 39 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency contracts ​ ​ $ 84 ​ $ — ​ $ 84 Total noncurrent derivative contracts Other noncurrent assets ​ $ 84 ​ $ — ​ $ 84 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ $ 48 ​ $ — ​ $ 48 Currency contracts ​ ​ ​ 1 ​ ​ 35 ​ ​ 36 Other contracts ​ ​ ​ — ​ ​ 12 ​ ​ 12 Total current derivative contracts Other current liabilities ​ $ 49 ​ $ 47 ​ $ 96 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency contracts ​ ​ $ — ​ $ 1 ​ $ 1 Total noncurrent derivative contracts Other noncurrent liabilities ​ $ — ​ $ 1 ​ $ 1
Schedule of impact on earnings (loss) from derivative instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ ​ ​ ​ 2023 ​ 2022 ($ in millions) Location of Gain (Loss) Recognized in Earnings on Derivatives Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts - manage exposure to customer pricing ​ Net sales ​ $ 29 ​ $ — ​ $ 105 ​ $ — Commodity contracts - manage exposure to supplier pricing ​ Cost of sales ​ ​ (31) ​ ​ 13 ​ ​ (5) ​ ​ 37 Interest rate contracts - manage exposure for outstanding debt ​ Interest expense ​ ​ 3 ​ ​ (2) ​ ​ 2 ​ ​ 5 Currency contracts - manage currency exposure ​ Selling, general and administrative ​ ​ 31 ​ ​ 51 ​ ​ 59 ​ ​ 28 Equity contracts ​ Selling, general and administrative ​ ​ — ​ ​ (20) ​ ​ — ​ ​ (51) Total ​ ​ ​ $ 32 ​ $ 42 ​ $ 161 ​ $ 19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ($ in millions) Location of Gain (Loss) Recognized in Earnings on Derivatives Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss) Gain (Loss) on Derivatives not Designated as Hedge Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts - manage exposure to customer pricing ​ Net sales ​ $ 40 ​ $ — ​ $ 23 ​ $ — ​ Commodity contracts - manage exposure to supplier pricing ​ Cost of sales ​ ​ (47) ​ ​ 12 ​ ​ 141 ​ ​ 17 ​ Interest rate contracts - manage exposure for outstanding debt ​ Interest expense ​ ​ 5 ​ ​ (7) ​ ​ 2 ​ ​ 9 ​ Currency contracts - manage currency exposure ​ Selling, general and administrative ​ ​ 34 ​ ​ 49 ​ ​ 136 ​ ​ 88 ​ Equity contracts ​ Selling, general and administrative ​ ​ — ​ ​ (5) ​ ​ — ​ ​ (120) ​ Total ​ ​ ​ $ 32 ​ $ 49 ​ $ 302 ​ $ (6) ​ ​
Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ($ in millions) 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified into earnings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ $ 2 ​ $ (100) ​ $ 7 ​ $ (164) Interest rate contracts ​ ​ (3) ​ ​ (2) ​ ​ (5) ​ ​ (2) Currency exchange contracts ​ ​ (31) ​ ​ (59) ​ ​ (34) ​ ​ (136) Change in fair value of cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity contracts ​ ​ (35) ​ ​ (32) ​ ​ (11) ​ ​ 30 Interest rate contracts ​ ​ 6 ​ ​ — ​ ​ 28 ​ ​ 1 Currency exchange contracts ​ ​ 31 ​ ​ 62 ​ ​ 29 ​ ​ 123 Currency and tax impacts ​ ​ 11 ​ ​ 34 ​ ​ (1) ​ ​ 32 ​ ​ $ (19) ​ $ (97) ​ $ 13 ​ $ (116) ​

Accounting Pronouncements (Deta

Accounting Pronouncements (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Accounting Pronouncements
Financial institutions obligation outstanding	$ 512	$ 930

Business Segment Information -

Business Segment Information - Summary of Business (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
Business Segment Information
Number of reportable segments | segment			4
Net sales
Net sales	$ 3,571	$ 3,951	$ 10,626	$ 11,801
Reconciling items
Other		(8)	7	(26)
Business consolidation and other activities	(47)	163	(61)	(23)
Amortization of acquired intangibles	(40)	(40)	(119)	(124)
Earnings (loss) before interest and taxes	325	523	973	1,026
Interest expense	(122)	(79)	(350)	(216)
Debt refinancing and other costs				(2)
Total interest expense	(122)	(79)	(350)	(218)
Earnings (loss) before taxes	203	444	623	808
Undistributed corporate expenses	18	25	60	73
Operating segments
Net sales
Net sales	3,392	3,774	10,049	11,255
Comparable operating earnings
Reportable segment comparable operating earnings	406	401	1,129	1,177
Operating segments | Beverage packaging, North And Central America
Net sales
Net sales	1,541	1,800	4,582	5,184
Comparable operating earnings
Reportable segment comparable operating earnings	196	205	554	543
Reconciling items
Business consolidation and other activities	(10)	(36)	(27)	(37)
Operating segments | Beverage packaging, EMEA
Net sales
Net sales	902	1,031	2,656	3,106
Comparable operating earnings
Reportable segment comparable operating earnings	103	82	274	311
Reconciling items
Business consolidation and other activities	1	214	6	(225)
Operating segments | Beverage packaging, South America
Net sales
Net sales	489	466	1,344	1,494
Comparable operating earnings
Reportable segment comparable operating earnings	61	67	141	197
Reconciling items
Business consolidation and other activities	(6)	(9)	(7)	(31)
Operating segments | Aerospace
Net sales
Net sales	460	477	1,467	1,471
Comparable operating earnings
Reportable segment comparable operating earnings	46	47	160	126
Other.
Net sales
Net sales	179	177	577	546
Reconciling items
Business consolidation and other activities	(32)	(6)	(33)	270
Rexam
Reconciling items
Amortization of acquired intangibles	$ (34)	$ (33)	$ (102)	$ (102)

Acquisitions and Dispositions -

Acquisitions and Dispositions - Dispositions (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022	Dec. 31, 2022
Disposition
Proceeds from business dispositions, net of cash sold					$ 748
Aluminum beverage packaging business in Russia
Disposition
Gain (loss) on sale of disposal group		$ 42			213
Disposal group, disposed of by sale, not discontinued operations | Ball Metalpack
Disposition
Consideration for the sale of business				$ 298
Gain (loss) on sale of disposal group				298	298
Proceeds from sale of minority-owned investment				298
Proceeds of the sale include the repayment of an outstanding promissory note and accrued interest				$ 16
Disposal group, disposed of by sale, not discontinued operations | Ball Metalpack | Ball Metalpack
Disposition
Percentage of ownership in a joint venture				49%
Disposal group, disposed of by sale, not discontinued operations | Aluminum beverage packaging business in Russia
Disposition
Impairment Loss			$ 435
Consideration for the sale of business		530			530
Gain (loss) on sale of disposal group		222
Write down at business disposal					$ 213	$ 213
Proceeds from business dispositions, net of cash sold		$ 455
Disposal group, not discontinued operations | Aerospace Business
Disposition
Consideration for the sale of business	$ 5.6
Gain (loss) on sale of disposal group	4.5
Proceeds from business dispositions, net of cash sold	$ 4.5

Revenue from Contracts With C_3

Revenue from Contracts With Customers - Disaggregation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contracts with Customers
Total net sales	$ 3,571	$ 3,951	$ 10,626	$ 11,801
Point in Time
Revenue from Contracts with Customers
Total net sales	632	725	1,736	2,031
Over Time
Revenue from Contracts with Customers
Total net sales	$ 2,939	$ 3,226	$ 8,890	$ 9,770

Revenue from Contracts With C_4

Revenue from Contracts With Customers - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Contract Balances
Contract assets	$ 0		$ 0		$ 0
Balance at beginning of period, Contract Liabilities (Current)			316
Increase (decrease) contract liabilities (current)			(9)
Balance at end of period, Contract Liabilities (Current)	307		307
Balance at beginning of period, Contract Liabilities (Noncurrent)			12
Increase (decrease) contract liabilities (noncurrent)			(3)
Balance at end of period, Contract Liabilities (Noncurrent)	9		9
Total increase (decrease) in contract liabilities			(12)
Cash received on contract liabilities			734
Revenue recognized as sales			746
Revenue recognized from opening balance of contract liabilities			316
Revenue recognized from obligations satisfied or partially satisfied in prior periods	$ (2)	$ (5)	$ 17	$ 0

Revenue from Contracts With C_5

Revenue from Contracts With Customers - Performance obligations (Details) - Aerospace $ in Millions	Sep. 30, 2023 USD ($)
Revenue from Contracts with Customers
Sales expected to be recognized on multi-year contracts in place as of the end of the period	$ 2,851
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue from Contracts with Customers
Period in which remaining performance obligations expect to be satisfied and revenue recognized	12 months
Sales expected to be recognized on multi-year contracts in place as of the end of the period	$ 1,378
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue from Contracts with Customers
Period in which remaining performance obligations expect to be satisfied and revenue recognized
Sales expected to be recognized on multi-year contracts in place as of the end of the period	$ 1,473

Business Consolidation and Ot_3

Business Consolidation and Other Activities (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Business consolidation and other activities
Business consolidation and other activities	$ (47)	$ 163			$ (61)	$ (23)
Aluminum beverage packaging business in Russia
Business consolidation and other activities
Business consolidation and other activities		163				23
Gain (loss) on sale of disposal group		42				213
Charges related to facilities closure		222				42
Disposal group, disposed of by sale, not discontinued operations | Ball Metalpack
Business consolidation and other activities
Gain (loss) on sale of disposal group				$ 298		298
Disposal group, disposed of by sale, not discontinued operations | Aluminum beverage packaging business in Russia
Business consolidation and other activities
Impairment Loss			$ 435
Gain (loss) on sale of disposal group		222
Write down at business disposal						213	$ 213
Disposal group, not discontinued operations | Aerospace Business
Business consolidation and other activities
Business consolidation and other activities	47				61
Gain (loss) on sale of disposal group	4.5
Beverage packaging, EMEA
Business consolidation and other activities
Impairment Loss			$ 296
Operating segments | Beverage packaging, North And Central America
Business consolidation and other activities
Business consolidation and other activities	(10)	(36)			(27)	(37)
Operating segments | Beverage packaging, EMEA
Business consolidation and other activities
Business consolidation and other activities	1	214			6	(225)
Operating segments | Beverage packaging, South America
Business consolidation and other activities
Business consolidation and other activities	(6)	(9)			(7)	(31)
Other.
Business consolidation and other activities
Business consolidation and other activities	$ (32)	$ (6)			$ (33)	270
Donations to non-profit organization						$ 30

Supplemental Cash Flow Statem_3

Supplemental Cash Flow Statement Disclosures (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents	$ 1,335	$ 473	$ 548	$ 563
Current restricted cash (included in other current assets)	$ 14	$ 23	10	16
Location of current restricted cash	Other current assets	Other current assets
Total cash, cash equivalents and restricted cash	$ 1,349	$ 496	558	579
Other Non-cash items
PP&E acquired but not yet paid	$ 207	$ 461	$ 392	$ 540

Receivables, Net (Details)

Receivables, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Receivables, Net
Trade accounts receivable	$ 883		$ 883		$ 1,373
Unbilled receivables	789		789		746
Less: Allowance for doubtful accounts	(12)		(12)		(12)
Net trade accounts receivable	1,660		1,660		2,107
Other receivables	399		399		487
Receivables, net	2,059		2,059		2,594
Maximum available sale of the accounts receivables under factoring program			2,000		2,040
Amount of accounts receivable available for sale under the factoring program	162		162		$ 488
Factoring program expense included in statement of earnings	$ 30	$ 17	$ 72	$ 41

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventories, Net
Raw materials and supplies	$ 1,251	$ 1,541
Work-in-process and finished goods	537	729
Less: Inventory reserves	(100)	(91)
Inventories, net	$ 1,688	$ 2,179

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, plant and equipment
Property, plant and equipment, gross	$ 11,691			$ 11,691		$ 11,127
Accumulated depreciation	(4,427)			(4,427)		(4,074)
Net property, plant and equipment	7,264			7,264		7,053
Depreciation expense	$ 133	$ 117		$ 390	$ 386
Diluted (in dollars per share)	$ 0.64	$ 1.24		$ 1.74	$ 2.07
Beverage packaging, EMEA
Property, plant and equipment
Impairment Loss			$ 296
Aerospace | Service Life
Property, plant and equipment
Depreciation expense				$ 52
Depreciation Expense, After Tax				$ 40
Diluted (in dollars per share)				$ 0.13
Land
Property, plant and equipment
Property, plant and equipment, gross	$ 217			$ 217		187
Buildings
Property, plant and equipment
Property, plant and equipment, gross	2,349			2,349		2,159
Machinery and equipment
Property, plant and equipment
Property, plant and equipment, gross	7,916			7,916		7,277
Construction-in-progress
Property, plant and equipment
Property, plant and equipment, gross	$ 1,209			$ 1,209		$ 1,504

Goodwill (Details)

Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill
Balance at the beginning of the period	$ 4,235
Effects of currency exchange	(13)
Balance at the end of the period	4,222
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
Beverage packaging, EMEA
Goodwill
Balance at the beginning of the period	1,342
Effects of currency exchange	(20)
Balance at the end of the period	1,322
Beverage packaging, South America
Goodwill
Balance at the beginning of the period	1,298
Balance at the end of the period	1,298
Aerospace
Goodwill
Balance at the beginning of the period	40
Balance at the end of the period	40
Other.
Goodwill
Balance at the beginning of the period	280
Effects of currency exchange	7
Balance at the end of the period	$ 287

Intangibles Assets, Net (Detail

Intangibles Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	$ 1,315			$ 1,315		$ 1,417
Amortization expense	40	$ 40		119	$ 124
Customer relationships and other intangibles
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	1,214			1,214		1,320
Accumulated amortization and impairment losses	1,010			1,010		914
Customer relationships and other intangibles | Aluminum beverage packaging business in Russia
Total annual intangible asset amortization expense
Impairment charge			$ 131
Capitalized software
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	87			87		80
Accumulated amortization and impairment losses	217			217		204
Other intangibles
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	14			14		17
Accumulated amortization and impairment losses	$ 95			$ 95		$ 99

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Other assets
Long-term pension assets	$ 372	$ 355
Right-of-use operating lease assets	$ 450	$ 434
Balance sheet location for operating lease assets	Other Assets	Other Assets
Investments in affiliates	$ 200	$ 193
Long-term deferred tax assets	72	73
Other	629	660
Other Assets	$ 1,723	$ 1,715
Entity In Guatemala
Other assets
Ownership in affiliate, as a percent	50%
Entity In Panama
Other assets
Ownership in affiliate, as a percent	50%
Entity In Vietnam
Other assets
Ownership in affiliate, as a percent	50%
Entity In U.S.
Other assets
Ownership in affiliate, as a percent	50%

Leases - Supplemental informati

Leases - Supplemental information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Supplemental balance sheet information
Balance sheet location for operating lease assets	Other assets	Other assets
Operating lease ROU asset	$ 450	$ 434
Balance sheet location for operating lease current liabilities	Other current liabilities	Other current liabilities
Current operating lease liabilities	$ 96	$ 91
Balance sheet location for operating lease noncurrent liabilities	Other liabilities	Other liabilities
Noncurrent operating lease liabilities	$ 365	$ 349
Balance sheet location for finance lease assets	Property, plant and equipment, net	Property, plant and equipment, net
Finance lease ROU assets, net	$ 9	$ 11
Balance sheet location for finance lease current liabilities	Short-term debt and current portion of long-term debt	Short-term debt and current portion of long-term debt
Current finance lease liabilities	$ 2	$ 2
Balance sheet location for finance lease noncurrent liabilities	Long-term debt	Long-term debt
Noncurrent finance lease liabilities	$ 8	$ 10

Debt - Long term debt (Details)

Debt - Long term debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	May 31, 2023	Dec. 31, 2022
Long-term debt
Finance lease obligations	$ 10			$ 12
Balance sheet location for finance lease liabilities	Short-term debt and current portion of long-term debt, Long-term debt excluding current maturities			Short-term debt and current portion of long-term debt, Long-term debt excluding current maturities
Other (including debt issuance costs)	$ (65)			$ (61)
Long-term debt, Total	9,312			8,543
Less: Current portion of long-term debt	(1,829)			(1,003)
Long-term debt excluding current maturities	7,483			7,540
Senior Notes 4.00% due November 2023
Long-term debt
Long-term Debt, Gross	$ 1,000			$ 1,000
Interest rate (as a percent)	4%			4%
Senior Notes 0.875%, euro denominated, due March 2024
Long-term debt
Long-term Debt, Gross	$ 793			$ 803
Interest rate (as a percent)	0.875%	0.875%
Senior Notes 5.25% due July 2025
Long-term debt
Long-term Debt, Gross	$ 1,000			$ 1,000
Interest rate (as a percent)	5.25%			5.25%
Senior Notes 4.875% due March 2026
Long-term debt
Long-term Debt, Gross	$ 750			$ 750
Interest rate (as a percent)	4.875%	4.875%
Senior Notes 1.50%, euro denominated, due March 2027
Long-term debt
Long-term Debt, Gross	$ 582			$ 589
Interest rate (as a percent)	1.50%			1.50%
6.875% due March 2028
Long-term debt
Long-term Debt, Gross	$ 750			$ 750
Interest rate (as a percent)	6.875%			6.875%
Senior Notes 6.00% due June 2029
Long-term debt
Long-term Debt, Gross	$ 1,000
Interest rate (as a percent)	6%		6%	6%
Senior Notes 2.875% due August 2030
Long-term debt
Long-term Debt, Gross	$ 1,300			$ 1,300
Interest rate (as a percent)	2.875%			2.875%
Senior Notes 3.125% due September 2031
Long-term debt
Long-term Debt, Gross	$ 850			$ 850
Interest rate (as a percent)	3.125%	3.125%
U.S. dollar revolver due June 2027
Long-term debt
Long-term Debt, Gross				200
Term A Loan Due June 2027
Long-term debt
Long-term Debt, Gross	$ 1,342			$ 1,350
Variable interest rate (as a percent)	6.92%

Debt - Activity (Details)

Debt - Activity (Details) - USD ($) $ in Millions	1 Months Ended
	May 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Committed multi-currency revolving credit facilities due 2021
Long-term debt
Maximum borrowing capacity of revolving credit facility		$ 1,750
Available borrowing capacity under line of credit facility		1,690
Short-term uncommitted credit facilities
Long-term debt
Available borrowing capacity under line of credit facility		922
Amount of credit facility outstanding and due on demand		38	$ 112
Short term committed revolving credit facilities
Long-term debt
Amount of credit facility outstanding and due on demand		$ 241
Senior Notes 6.00% due June 2029
Long-term debt
Face amount of debt	$ 1,000
Interest rate (as a percent)	6%	6%	6%
Repayment of revolving credit facility	$ 800

Debt - FV, Maturities, etc. (De

Debt - FV, Maturities, etc. (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Total interest paid and capitalized
Interest expense	$ 122	$ 79	$ 350	$ 218
Leverage ratio, maximum			5
Leverage ratio, subsequent period			4.5
Level 2
Long term debt value
Fair value of the long-term debt	$ 8,770		$ 8,770		$ 7,990

Taxes on Income (Details)

Taxes on Income (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Effective income tax changes by percentage
Effective tax rate expressed as a percentage of pre-tax earnings	1%	8.60%	12.70%	17.20%
Effective income tax rate reduction for federal tax credits	23.80%	2.20%	9.90%	2.60%
Effective income tax rate, valuation allowance	15.50%	10.80%	5.10%	5.90%
Effective income tax rate, reduction for foreign tax rate differences including tax holidays	21.30%		7.10%
Effective income tax rate, reduction in foreign rate differences		5.10%		2.80%
Effective Income Tax Rate Reconciliation, Permanent Differences		3.80%		3%

Employee Benefit Obligations -

Employee Benefit Obligations - Components, Amounts recognized in BS (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Defined Benefit Plan Liability
Underfunded defined benefit pension liabilities	$ 424	$ 423
Less current portion	(21)	(21)
Long-term defined benefit pension liabilities	403	402
Long-term retiree medical liabilities	88	94
Deferred compensation plans	254	286
Other	68	65
Total employee benefit obligations	$ 813	$ 847

Employee Benefit Obligations _2

Employee Benefit Obligations - Components of net periodic benefit cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		15 Months Ended	21 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023
Ball-sponsored plans:
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement and Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible List]					Restructuring and Other Activities	Restructuring and Other Activities
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Immediate Recognition of Actuarial Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Non-service pension income				$ 25
Selling, general and administrative
Ball-sponsored plans:
Non-service pension income	$ 10	$ 8	$ 28
Defined Benefit Pension Plans
Ball-sponsored plans:
Service cost	15	25	44	74
Interest cost	42	25	128	76
Expected return on plan assets	(54)	(42)	(161)	(128)
Amortization of prior service cost	1	1	2	3
Settlement losses and other one-time charges (a)	3	3	3	3
Recognized net actuarial loss (gain)	1	8	3	24
Total net periodic benefit cost	8	20	19	52
Contributions to pension plans			13	113
Expected contributions to pension plans for the full year							$ 33
United States | Defined Benefit Pension Plans
Ball-sponsored plans:
Service cost	14	22	40	66
Interest cost	21	13	64	40
Expected return on plan assets	(28)	(27)	(85)	(81)
Amortization of prior service cost				1
Settlement losses and other one-time charges (a)	3	3	3	3
Recognized net actuarial loss (gain)		7	2	21
Total net periodic benefit cost	10	18	24	50
Non-U.S. | Defined Benefit Pension Plans
Ball-sponsored plans:
Service cost	1	3	4	8
Interest cost	21	12	64	36
Expected return on plan assets	(26)	(15)	(76)	(47)
Amortization of prior service cost	1	1	2	2
Recognized net actuarial loss (gain)	1	1	1	3
Total net periodic benefit cost	$ (2)	$ 2	$ (5)	$ 2

Equity and Accumulated Other _3

Equity and Accumulated Other Comprehensive Earnings (Loss) - Equity Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 3,905	$ 3,533	$ 3,527	$ 3,685
Balance at beginning of period (in shares)			368,036,369
Net earnings (loss)	204	394	$ 557	676
Other comprehensive earnings (loss), net of tax	(60)	(302)	37	(66)
Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business		90		90
Common dividends, net of tax benefits	(63)	(63)	(189)	(191)
Treasury stock purchases		(39)	(3)	(617)
Treasury shares re-issued	8	8	23	25
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	13	15	44	27
Other activity	1	3	12	10
Balance at end of the period	$ 4,008	3,549	$ 4,008	3,549
Balance at end of period (in shares)	367,662,311		367,662,311
Common Stock
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 1,291	$ 1,232	$ 1,260	$ 1,220
Balance at beginning of period (in shares)	682,728,000	681,866,000	682,144,000	680,945,000
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	$ 13	$ 15	$ 44	$ 27
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged (in shares)	168,000	158,000	752,000	1,079,000
Balance at end of the period	$ 1,304	$ 1,247	$ 1,304	$ 1,247
Balance at end of the period (in shares)	682,896,000	682,024,000	682,896,000	682,024,000
Treasury Stock
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ (4,406)	$ (4,408)	$ (4,429)	$ (3,854)
Balance at beginning of period (in shares)	(367,793,000)	(367,399,000)	(368,036,000)	(360,101,000)
Treasury stock purchases		$ (39)	$ (3)	$ (617)
Treasury stock purchases (in shares)	(8,000)	(921,000)	(60,000)	(8,384,000)
Treasury shares re-issued	$ 8	$ 8	$ 23	$ 25
Treasury shares re-issued (in shares)	139,000	152,000	434,000	317,000
Other activity	$ 1	$ 3	$ 12	$ 10
Balance at end of the period	$ (4,397)	$ (4,436)	$ (4,397)	$ (4,436)
Balance at end of period (in shares)	(367,662,000)	(368,168,000)	(367,662,000)	(368,168,000)
Retained Earnings
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 7,533	$ 6,987	$ 7,309	$ 6,843
Net earnings (loss)	203	392	553	664
Common dividends, net of tax benefits	(63)	(63)	(189)	(191)
Balance at end of the period	7,673	7,316	7,673	7,316
Accumulated Other Comprehensive Earnings (Loss).
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	(582)	(346)	(679)	(582)
Other comprehensive earnings (loss), net of tax	(60)		37
Other comprehensive earnings (loss), net of tax		(392)		(156)
Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business		90		90
Balance at end of the period	(642)	(648)	(642)	(648)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	69	68	66	58
Net earnings (loss)	1	2	4	12
Balance at end of the period	$ 70	$ 70	$ 70	$ 70

Equity and Accumulated Other _4

Equity and Accumulated Other Comprehensive Earnings (Loss) - AOCI Activity (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Accumulated Other Comprehensive Earnings (Loss)
Beginning Balance	$ 3,461
Ending Balance	3,938
Currency Translation (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Beginning Balance	(434)
Other comprehensive earnings (loss) before reclassifications	18
Ending Balance	(416)
Pension and Other Postretirement Benefits (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Beginning Balance	(227)
Other comprehensive earnings (loss) before reclassifications	8
Amounts reclassified into earnings	(2)
Ending Balance	(221)
Derivatives Designated as Hedges (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Beginning Balance	(18)
Other comprehensive earnings (loss) before reclassifications	36
Amounts reclassified into earnings	(23)
Ending Balance	(5)
Accumulated Other Comprehensive Earnings (Loss).
Accumulated Other Comprehensive Earnings (Loss)
Beginning Balance	(679)
Other comprehensive earnings (loss) before reclassifications	62
Amounts reclassified into earnings	(25)
Ending Balance	$ (642)

Equity and Accumulated Other _5

Equity and Accumulated Other Comprehensive Earnings (Loss) - AOCI Additional Details (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gains (losses) on cash flow hedges:
Net sales	$ 3,571	$ 3,951	$ 10,626	$ 11,801
Business consolidation and other activities	(47)	163	(61)	(23)
Earnings before taxes	203	444	623	808
Tax benefit (expense) on amounts reclassified into earnings	(2)	(38)	(79)	(139)
Net earnings	204	394	557	676
Amortization Of Pension And Other Postretirement Benefits:
Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business		90		90
Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business		90		90
Derivatives Designated as Hedges (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Gains (losses) on cash flow hedges:
Earnings before taxes	32	161	32	302
Tax benefit (expense) on amounts reclassified into earnings	(9)	(35)	(9)	(68)
Net earnings	23	126	23	234
Derivatives Designated as Hedges (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Commodity
Gains (losses) on cash flow hedges:
Net sales	29	105	40	23
Cost of sales, net	(31)	(5)	(47)	141
Derivatives Designated as Hedges (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Interest rate swap agreements
Gains (losses) on cash flow hedges:
Interest expense	3	2	5	2
Derivatives Designated as Hedges (Net of Tax) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) | Foreign currency contracts
Gains (losses) on cash flow hedges:
Selling, general and administrative, net	$ 31	59	34	136
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		(12)	2	(30)
Tax benefit (expense) on amounts reclassified into earnings		2		7
Recognized gain (loss), net of tax		(10)	2	(23)
Prior service income (expense) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect		(1)	(1)	(3)
Actuarial gains (losses) | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect		(8)	$ 3	(24)
Effect of settlement losses and other one-time charges | Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect		$ (3)		$ (3)

Equity and Accumulated Other _6

Equity and Accumulated Other Comprehensive Earnings (Loss) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Jun. 30, 2022	May 31, 2022	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock Repurchase Program [Abstract]
Share repurchase agreement amount	$ 300
Number of shares repurchased	662,000	3,450,000	4,340,000
Share price (in dollars per share)	$ 69.25		$ 69.06		$ 69.06
Payment made for repurchase of common shares		$ 300		$ 3	$ 617
Percentage of shares repurchased on total shares		80%

Earnings and Dividends Per Sh_3

Earnings and Dividends Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per share
Net earnings attributable to Ball Corporation	$ 203	$ 392	$ 553	$ 664
Basic weighted average common shares	314,983	314,054	314,596	317,296
Effect of dilutive securities (in shares)	2,313	3,007	2,342	3,926
Weighted average shares applicable to diluted earnings (loss) per share	317,296	317,061	316,938	321,222
Per basic share (in dollars per share)	$ 0.64	$ 1.25	$ 1.76	$ 2.09
Per diluted share (in dollars per share)	0.64	1.24	1.74	2.07
Dividends declared and paid
Dividends paid (in dollars per share)	$ 0.20	$ 0.20	$ 0.60	$ 0.60
Stock option and SSARs
Options excluded from EPS calculation
Number of outstanding options excluded from computation of diluted earnings per share	4,000	4,000	4,000	3,000

Financial Instruments and Ris_3

Financial Instruments and Risk Management - General (Details) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) approach $ / shares shares
Commodity
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 contracts	$ 1,181
Net gain (loss) included in AOCI, after-tax	(23)
Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months	$ (23)
Commodity | Cash Flow Hedging
Financial Instruments and Risk Management
Longest duration of forecasted cash flow hedge transactions in years	1 year
Currency
Financial Instruments and Risk Management
Notional amount of contracts	$ 2,960
Currency | Cash Flow Hedging
Financial Instruments and Risk Management
Longest duration of forecasted cash flow hedge transactions in years	1 year
Interest Rate
Financial Instruments and Risk Management
Notional amount of contracts	$ 811
Net gain (loss) included in AOCI, after-tax	18
Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months	$ 18
Interest Rate | Cash Flow Hedging
Financial Instruments and Risk Management
Longest duration of forecasted cash flow hedge transactions in years	4 years
Equity contracts
Financial Instruments and Risk Management
Combined notional value (in shares) | shares	2.3
Change in company's stock price (in dollars per share) | $ / shares	$ 1

Financial Instruments and Ris_4

Financial Instruments and Risk Management - Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Total current derivative contracts, assets	$ 173	$ 39
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Total noncurrent derivative contracts, assets	$ 1	$ 84
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Total current derivative contracts, liabilities	$ 56	$ 96
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Total noncurrent derivative contracts, liabilities	$ 1	$ 1
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Commodity
Fair Value Measurements
Total current derivative contracts, assets	$ 13	$ 11
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Total current derivative contracts, liabilities	$ 35	$ 48
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Total noncurrent derivative contracts, liabilities	$ 1
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent
Currency
Fair Value Measurements
Total current derivative contracts, assets	$ 137	$ 28
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Total noncurrent derivative contracts, assets	$ 1	$ 84
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Total current derivative contracts, liabilities	$ 12	$ 36
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Total noncurrent derivative contracts, liabilities		$ 1
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	$ 23
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current
Total current derivative contracts, liabilities	$ 9	$ 12
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current
Derivatives Designated As Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	129	$ 11
Total noncurrent derivative contracts, assets	1	84
Total current derivative contracts, liabilities	34	49
Total noncurrent derivative contracts, liabilities	1
Derivatives Designated As Hedging Instruments | Commodity
Fair Value Measurements
Total current derivative contracts, assets	13	11
Total current derivative contracts, liabilities	34	48
Total noncurrent derivative contracts, liabilities	1
Derivatives Designated As Hedging Instruments | Currency
Fair Value Measurements
Total current derivative contracts, assets	93
Total noncurrent derivative contracts, assets	1	84
Total current derivative contracts, liabilities		1
Derivatives Designated As Hedging Instruments | Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	23
Derivatives Not Designated as Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	44	28
Total current derivative contracts, liabilities	22	47
Total noncurrent derivative contracts, liabilities		1
Derivatives Not Designated as Hedging Instruments | Commodity
Fair Value Measurements
Total current derivative contracts, liabilities	1
Derivatives Not Designated as Hedging Instruments | Currency
Fair Value Measurements
Total current derivative contracts, assets	44	28
Total current derivative contracts, liabilities	12	35
Total noncurrent derivative contracts, liabilities		1
Derivatives Not Designated as Hedging Instruments | Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, liabilities	$ 9	$ 12

Financial Instruments and Ris_5

Financial Instruments and Risk Management - Impact on Earnings (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	$ 32	$ 161	$ 32	$ 302
Gain (Loss) on Derivatives not Designated as Hedge Instruments	42	19	49	(6)
Amounts reclassified into earnings:
Commodity contracts	2	(100)	7	(164)
Interest rate contracts	(3)	(2)	(5)	(2)
Currency exchange contracts	(31)	(59)	(34)	(136)
Change in fair value of cash flow hedges:
Changes in accumulated other comprehensive earnings (loss) for effective derivatives	(19)	(97)	13	(116)
Commodity
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	(35)	(32)	(11)	30
Commodity | Net sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	29	105	40	23
Commodity | Cost of sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	(31)	(5)	(47)	141
Gain (Loss) on Derivatives not Designated as Hedge Instruments	13	37	12	17
Interest rate contracts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	$ 3	$ 2	$ 5	2
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Debt	Interest Expense, Debt	Interest Expense, Debt
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	$ 6		$ 28	1
Interest rate contracts | Interest expense
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments	(2)	$ 5	(7)	9
Currency
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	$ 31	$ 59	$ 34	$ 136
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Currency | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments	$ 51	$ 28	$ 49	$ 88
Equity contracts
Impact on Earnings from Derivative Instruments
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Equity contracts | Selling, general and administrative
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments	$ (20)	$ (51)	$ (5)	$ (120)
Currency exchange contracts
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	31	62	29	123
Foreign currency and tax impacts
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	$ 11	$ 34	$ (1)	$ 32

Contingencies (Details)

Contingencies (Details) $ in Millions	Sep. 30, 2023 USD ($)
Environmental remediation
Estimated potential liability for all environmental matters	$ 24
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current, Other Liabilities, Noncurrent

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false