XML 77 R9.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Accounting Pronouncements | 12 Months Ended
--- | ---
Dec. 31, 2019
Accounting Pronouncements |
Accounting Pronouncements | 2. Accounting Pronouncements ​ Recently Adopted Accounting Standards ​ New Lease Accounting Guidance ​ In February 2016, lease accounting guidance was issued which, for operating leases, requires a lessee to recognize a right-of-use (ROU) asset and a lease liability. The guidance also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight line basis. On January 1, 2019, Ball adopted the new guidance and all related amendments (the new lease standard), applying the modified retrospective method to all contracts that were not completed as of January 1, 2019. As such, comparative information has not been restated and continues to be reported under the accounting standards in effect for those prior periods. ​ As part of adopting the new lease standard, Ball has made the following elections: ​
| ● | To carry forward the historical lease determination and classification conclusions as established under the old standard, and not reassess initial direct costs for existing leases;
| ● | To carry forward its historical accounting treatment for land easements on existing agreements;
| ● | Not to apply the balance sheet recognition requirements of the new lease standard to leases with a term of one year or less (short-term leases); and
| ● | For all classes of underlying assets, to account for non-lease components of a contract as part of the single lease component to which they are related.
​ The adoption of the new lease standard resulted in the following impacts on the company’s consolidated balance sheets: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
($ in millions) | Balance at December 31, 2018 | ​ | Adjustments Due to Adoption | ​ | Balance at January 1, 2019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other current assets | $ | 140 | ​ | $ | (1) | ​ | $ | 139
Operating lease right-of-use assets (a) | ​ | — | ​ | ​ | 244 | ​ | ​ | 244
Other assets | ​ | 1,409 | ​ | ​ | (25) | ​ | ​ | 1,384
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other current liabilities | $ | 492 | ​ | $ | (3) | ​ | $ | 489
Current operating lease liabilities (b) | ​ | — | ​ | ​ | 53 | ​ | ​ | 53
Other liabilities | ​ | 287 | ​ | ​ | (14) | ​ | ​ | 273
Noncurrent operating lease liabilities (b) | ​ | — | ​ | ​ | 182 | ​ | ​ | 182
(a) | Operating lease right-of-use assets are recognized within other assets in Ball’s consolidated balance sheets.
(b) | Current and noncurrent operating lease liabilities are recognized within other current liabilities and other liabilities, respectively, in Ball’s consolidated balance sheets.
​ Ball’s adoption of the new lease standard had an immaterial impact on Ball’s results of operations in the consolidated statements of earnings; an immaterial impact on Ball’s cash flows from operating, financing, and investing activities in the consolidated statements of cash flows and no impact on Ball’s opening retained earnings balance. Ball’s accounting for finance leases remains substantially unchanged as a result of the adoption. See Note 14 for further details regarding Ball’s leases. ​ Stranded Tax Effects ​ In February 2018, accounting guidance was issued to permit the reclassification from accumulated other comprehensive income to retained earnings of stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act signed into law in December 2017. Ball adopted this guidance on January 1, 2019, and an election was made to reclassify on the first day of the period of adoption. The total tax amount reclassified was $79 million. Remaining stranded tax amounts in accumulated other comprehensive income, which are unrelated to the U.S. Tax Cuts and Jobs Act, are not significant and will be reclassified to the income statement when the activity leading to the deferral of gains and losses has ceased in full. ​ New Accounting Guidance ​ Income Tax Simplification ​ In December 2019, accounting guidance was issued to simplify the accounting for income taxes. The guidance is effective for Ball on January 1, 2021, and the company is currently assessing the impact that the adoption of this new guidance will have on its consolidated financial statements. ​ Cloud Computing Arrangements ​ In August 2018, amendments to existing accounting guidance were issued to clarify the accounting for implementation costs for cloud computing arrangements. The amendments specify that existing guidance for capitalizing implementation costs incurred to develop or obtain internal-use software also applies to implementation costs incurred in a hosting arrangement that is a service contract. The guidance is effective for Ball on January 1, 2020, and will not have a material effect on the company’s consolidated financial statements. ​ Financial Assets ​ Amendments to existing guidance were issued in June 2016, followed by improvements and transition relief in 2018 and 2019, requiring financial assets or a group of financial assets measured at amortized cost basis to be presented at the net amount expected to be collected when finalized. The allowance for credit losses is a valuation account that will be deducted from the amortized cost basis of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. This guidance is expected to primarily affect Ball’s trade receivables; however, the guidance applies to other financial assets as well. The guidance is effective for Ball on January 1, 2020, and will not have a material effect on the company’s consolidated financial statements.

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

X
- Definition The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
Name: | us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration