XML 38 R26.htm IDEA: XBRL DOCUMENT
v3.7.0.1

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

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration