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

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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