Ball (BALL) 10-Q7 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		310,377,752
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	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
Net sales	$ 2,874	$ 2,981
Costs and expenses
Cost of sales (excluding depreciation and amortization)	(2,283)	(2,432)
Depreciation and amortization	(158)	(147)
Selling, general and administrative	(211)	(115)
Business consolidation and other activities	(26)	(20)
Total costs and expenses	(2,678)	(2,714)
Earnings before interest and taxes	196	267
Interest expense	(93)	(113)
Debt refinancing and other costs	(2)
Total interest expense	(95)	(113)
Earnings before taxes	101	154
Tax (provision) benefit	(27)	(33)
Equity in results of affiliates, net of tax	5	7
Earnings from continuing operations	79	128
Discontinued operations, net of tax	3,607	52
Net earnings	3,686	180
Net earnings attributable to noncontrolling interests	1	3
Net earnings attributable to Ball Corporation	$ 3,685	$ 177
Earnings per share:
Basic (in dollars per share)	$ 11.70	$ 0.56
Diluted (in dollars per share)	11.61	0.56
Basic - continuing operations (in dollars per share)	0.25	0.40
Diluted - continuing operations (in dollars per share)	0.25	0.40
Basic - discontinued operations (in dollars per share)	11.45	0.16
Diluted - discontinued operations (in dollars per share)	$ 11.36	$ 0.16
Weighted average shares outstanding: (000s)
Basic (in shares)	314,950	314,236
Diluted (in shares)	317,385	316,667

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS)
Net earnings	$ 3,686	$ 180
Other comprehensive earnings (loss):
Currency translation adjustment	(87)	20
Pension and other postretirement benefits	141	1
Derivatives designated as hedges	8	29
Total other comprehensive earnings (loss)	62	50
Income tax (provision) benefit	(39)	(8)
Total other comprehensive earnings (loss), net of tax	23	42
Total comprehensive earnings	3,709	222
Comprehensive earnings attributable to noncontrolling interests	1	3
Comprehensive earnings attributable to Ball Corporation	$ 3,708	$ 219

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 1,719	$ 695
Receivables, net	3,050	2,057
Inventories, net	1,498	1,531
Other current assets	225	231
Current assets held for sale	32	369
Total current assets	6,524	4,883
Noncurrent assets
Property, plant and equipment, net	6,634	6,715
Goodwill	4,211	4,250
Intangible assets, net	1,199	1,248
Other assets	1,330	1,354
Noncurrent assets held for sale		853
Total assets	19,898	19,303
Current liabilities
Short-term debt and current portion of long-term debt	281	1,065
Accounts payable	3,257	3,661
Accrued employee costs	257	245
Other current liabilities	1,589	779
Current liabilities held for sale		435
Total current liabilities	5,384	6,185
Noncurrent liabilities
Long-term debt	5,519	7,504
Employee benefit obligations	645	735
Deferred taxes	591	421
Other liabilities	382	384
Noncurrent liabilities held for sale		237
Total liabilities	12,521	15,466
Equity
Common stock (683,560,199 shares issued - 2024; 683,241,401 shares issued - 2023)	1,352	1,312
Retained earnings	11,386	7,763
Accumulated other comprehensive earnings (loss)	(893)	(916)
Treasury stock, at cost (370,544,422 shares - 2024; 367,551,366 shares - 2023)	(4,537)	(4,390)
Total Ball Corporation shareholders' equity	7,308	3,769
Noncontrolling interests	69	68
Total equity	7,377	3,837
Total liabilities and equity	$ 19,898	$ 19,303

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Mar. 31, 2024	Dec. 31, 2023
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, shares issued	683,560,199	683,241,401
Treasury stock, at cost	370,544,422	367,551,366

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities
Net earnings	$ 3,686	$ 180
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:
Depreciation and amortization	167	166
Business consolidation and other activities	26	20
Deferred tax provision (benefit)	176
Gain on Aerospace disposal	(4,695)
Pension contributions	(10)	(4)
Other, net	46	49
Changes in working capital components, net of dispositions	(643)	(686)
Cash provided by (used in) operating activities	(1,247)	(275)
Cash Flows from Investing Activities
Capital expenditures	(154)	(343)
Business dispositions, net of cash sold	5,422
Other, net	24	7
Cash provided by (used in) investing activities	5,292	(336)
Cash Flows from Financing Activities
Long-term borrowings	450	600
Repayments of long-term borrowings	(3,277)	(1)
Net change in short-term borrowings	77	101
Acquisitions of treasury stock	(182)	(3)
Common stock dividends	(63)	(63)
Other, net	17	15
Cash provided by (used in) financing activities	(2,978)	649
Effect of exchange rate changes on cash	(52)	(2)
Change in cash, cash equivalents and restricted cash	1,015	36
Cash, cash equivalents and restricted cash - beginning of period	710	558
Cash, cash equivalents and restricted cash - end of period	$ 1,725	$ 594

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2024
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. 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 2023 Annual Report on Form 10-K filed on February 20, 2024, pursuant to the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023 (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. On February 16, 2024, the company completed the divestiture of its aerospace business. The transaction represents a strategic shift; therefore, the company’s consolidated financial statements reflect the aerospace business’ financial results as discontinued operations for all periods presented. The aerospace business was historically presented as a reportable segment. Effective as of the first quarter of 2024, the company will report its financial performance in three reportable segments: (1) beverage packaging, North and Central America; (2) beverage packaging, Europe, Middle East and Africa (beverage packaging, EMEA) and (3) beverage packaging, South America. See Note 3 Unless otherwise specified, these notes to the unaudited condensed consolidated financial statements reflect continuing operations only. Certain prior year amounts, including amounts related to discontinued operations, have been reclassified in order to conform to the current year presentation. See Note 4 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 and monetary policies, changes in interest rates, and changing demand for certain goods and services. 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 March 31, 2024, 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 industry, 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. Argentina Although Ball's functional currency in Argentina is the U.S. dollar, a portion of its transactions are denominated in pesos. During the fourth quarter of 2023, Argentina suddenly devalued its peso relative to the U.S. dollar as one of the economic policies implemented by the new government with the goal of stabilizing and growing the economy. The government has implemented additional policies with the same goal in mind including additional taxes on the importation of certain goods. The currency devaluation, economic conditions and policies in Argentina make it difficult to manage currency exchange rate risk and may lead to additional adverse effects on the company’s results of operations. Ball’s Argentinean business is presented in its beverage packaging, South America, reportable operating segment. Ball’s peso-denominated net monetary assets in Argentina were approximately $44 million at March 31, 2024. As of March 31, 2024, Ball’s Argentinean business had net asset exposure of $403 million, which consisted primarily of working capital and property, plant and equipment.

Accounting Pronouncements

Accounting Pronouncements	3 Months Ended
Accounting Pronouncements	Mar. 31, 2024
Accounting Pronouncements
Accounting Pronouncements	2. Accounting Pronouncements Recently Adopted Accounting Standards Supplier Finance Programs In 2022, new guidance was issued by the Financial Accounting Standards Board (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, in its 2024 annual report. 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 payable, 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 $573 million and $703 million at March 31, 2024 and December 31, 2023, 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. New Accounting Guidance and Disclosure Requirements Climate Disclosures In 2024, the Securities and Exchange Commission (SEC) adopted final rules to require disclosures about material climate-related risks, the actual and potential impact of the risks and additional related disclosures. The final rules are currently under a stay by the SEC. The company is assessing the impact that the adoption of this new guidance will have on its consolidated financial statements and expects to meet the disclosure requirements on a prospective basis starting with information pertaining to the fiscal year beginning 2025. Income Tax Disclosures In 2023, new guidance was issued by the FASB with the goal of providing financial statement users with more information in the income tax rate reconciliation table and regarding income taxes paid. The company is assessing the impact that the adoption of this new guidance will have on its consolidated financial statements and expects to meet the disclosure requirements on a prospective basis in its 2025 annual report. Segment Reporting In 2023, new guidance was issued by the FASB with the goal of providing financial statement users with more information about reportable segments, including more disaggregated expense information. The company is assessing the impact that the adoption of this new guidance will have on its consolidated financial statements and expects to meet the disclosure requirements on a retrospective basis in its 2024 annual report and interim periods thereafter.

Business Segment Information

Business Segment Information	3 Months Ended
Business Segment Information	Mar. 31, 2024
Business Segment Information
Business Segment Information	3. Business Segment Information Ball’s operations are organized and reviewed by management along its product lines and geographical areas and presented in the three reportable segments outlined below. Beverage packaging, North and Central America : Beverage packaging, EMEA : Beverage packaging, South America : 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 Myanmar; 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 Summary of Business by Segment Three Months Ended March 31, ($ in millions) 2024 2023 Net sales Beverage packaging, North and Central America $ 1,403 $ 1,504 Beverage packaging, EMEA 810 834 Beverage packaging, South America 482 450 Reportable segment sales 2,695 2,788 Other 179 193 Net sales $ 2,874 $ 2,981 Comparable operating earnings Beverage packaging, North and Central America $ 192 $ 183 Beverage packaging, EMEA 85 73 Beverage packaging, South America 55 50 Reportable segment comparable operating earnings 332 306 Reconciling items Other (a) (72) 15 Business consolidation and other activities (26) (20) Amortization of acquired intangibles (38) (34) Earnings before interest and taxes 196 267 Interest expense (93) (113) Debt refinancing and other costs (2) — Total interest expense (95) (113) Earnings before taxes $ 101 $ 154 (a) Includes undistributed corporate expenses, net, of $96 million and $10 million for the three months ended March 31, 2024 and 2023, respectively. For the three months ended March 31, 2024, undistributed corporate expenses, net, includes $79 million of incremental compensation cost from the successful sale of the aerospace business consisting of cash bonuses and stock based compensation. For the three months ended March 31, 2024, undistributed corporate expenses, net, also includes $17 million of corporate interest income. 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	3 Months Ended
Acquisitions and Dispositions	Mar. 31, 2024
Acquisitions and Dispositions
Acquisitions and Dispositions	4. Acquisitions and Dispositions Dispositions Discontinued Operations 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 outstanding equity interests in Ball’s aerospace business. On February 16, 2024, the company completed the divestiture of the aerospace business for a purchase price of $5.6 billion, subject to working capital adjustments and other customary closing adjustments under the terms of the Agreement, which are expected to be resolved mid-2024 and could impact the gain recognized. The divestiture resulted in a pre-tax gain of $4.67 billion, which is net of $20 million of costs to sell incurred and paid in 2023 related to the disposal. Cash proceeds received at close from the sale of $5.42 billion, net of the cash disposed, are presented in business dispositions, net of cash sold, in the unaudited condensed consolidated statement of cash flows for the three months ended March 31, 2024. The company expects to pay approximately $1.00 billion in income taxes related to the transaction throughout 2024, which are recorded in other current liabilities in the unaudited condensed consolidated balance sheet. Additionally, the completion of the divestiture results in the removal of the aerospace business from the company’s obligor group, as the business will no longer guarantee the company’s senior notes and senior credit facilities. The sale of the aerospace business represents a strategic shift that will have a major effect on Ball’s operations and financial results, including the removal of the aerospace reportable segment. Due to this shift, for all periods presented, the consolidated financial statements reflect the aerospace business’ financial results as discontinued operations in the unaudited condensed consolidated statements of earnings, and its assets and liabilities are presented as assets and liabilities held for sale in the unaudited condensed consolidated balance sheet as of December 31, 2023. See Note 1 for further information on the basis of presentation. The following table presents components of discontinued operations, net of tax for the : Three Months Ended March 31, ($ in millions) 2024 2023 Net sales $ 261 $ 508 Cost of sales (excluding depreciation and amortization) (214) (413) Depreciation and amortization (9) (19) Selling, general and administrative (11) (16) Gain on disposition 4,695 — Tax (provision) benefit (1,115) (8) Discontinued operations, net of tax $ 3,607 $ 52 The following table presents assets and liabilities that are classified as held for sale on the unaudited condensed consolidated balance sheet as of : December 31, ($ in millions) 2023 Assets Current assets Receivables, net $ 277 Other current assets 56 Total current assets 333 Noncurrent assets Property, plant and equipment, net 665 Other assets 188 Total assets of discontinued operations $ 1,186 Liabilities Current liabilities Accounts payable $ 92 Accrued employee costs 88 Deferred revenue 221 Other current liabilities 34 Total current liabilities 435 Noncurrent liabilities Employee benefit obligations 163 Other liabilities 74 Total liabilities of discontinued operations $ 672 The following table presents significant cash flow items from discontinued operations for the three months ended March 31, 2024 and 2023 included within the consolidated statements of cash flows. Amounts include adjustments to reconcile net earnings to cash provided by (used in) operating activities: Three Months Ended March 31, ($ in millions) 2024 2023 Provided by (used in) Depreciation and amortization $ 9 $ 19 Gain on Aerospace disposal (4,695) - Capital expenditures (13) (24) 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 consolidated statements of cash flows. A summary of the PP&E acquired but not yet paid for from discontinued operations is as follows: Three Months Ended March 31, ($ in millions) 2024 2023 Supplemental cash flow information: PP&E acquired but not yet paid $ 17 $ 16

Revenue from Contracts With Cus

Revenue from Contracts With Customers	3 Months Ended
Revenue from Contracts With Customers	Mar. 31, 2024
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: ($ in millions) Three Months Ended March 31, Point in Time Over Time Total 2024 $ 556 $ 2,318 $ 2,874 2023 542 2,439 2,981 Contract Balances The company did not have any contract assets at either March 31, 2024, or December 31, 2023. 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, 2023 $ 114 $ 3 Increase (decrease) (15) (1) Balance at March 31, 2024 $ 99 $ 2 During the three months ended March 31, 2024, contract liabilities decreased by $16 million, which is net of cash received of $73 million and amounts recognized as sales of $89 million, the majority of which related to current contract liabilities. The amount of sales recognized in the three months ended March 31, 2024, that was included in the opening contract liabilities balance, was $89 million, all of which related to current contract liabilities. The difference between the opening and closing balances of the company’s contract liabilities primarily results from timing differences between the company’s performance and the customer’s payments. 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.

Business Consolidation and Othe

Business Consolidation and Other Activities	3 Months Ended
Business Consolidation and Other Activities	Mar. 31, 2024
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 March 31, ($ in millions) 2024 2023 Beverage packaging, North and Central America $ (30) $ (22) Beverage packaging, EMEA — 5 Beverage packaging, South America (1) (2) Other 5 (1) $ (26) $ (20) 2024 During the three months ended March 31, 2024, the net charges of $26 million were primarily related to facility closure costs. These charges were partially offset by income from the receipt of insurance proceeds for replacement costs related to the 2023 fire at the company’s Verona, Virginia extruded aluminum slug manufacturing facility. 2023 During the three months ended March 31, 2023, the net charges of $20 million primarily related to facility closure costs.

Supplemental Cash Flow Statemen

Supplemental Cash Flow Statement Disclosures	3 Months Ended
Supplemental Cash Flow Statement Disclosures	Mar. 31, 2024
Supplemental Cash Flow Statement Disclosures
Supplemental Cash Flow Statement Disclosures	7. Supplemental Cash and Cash Flow Statement Disclosures March 31, ($ in millions) 2024 2023 Beginning of period: Cash and cash equivalents $ 695 $ 548 Current restricted cash (included in other current assets) 15 10 Total cash, cash equivalents and restricted cash $ 710 $ 558 End of period: Cash and cash equivalents $ 1,719 $ 572 Current restricted cash (included in other current assets) 6 22 Total cash, cash equivalents and restricted cash $ 1,725 $ 594 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. The company recognized interest income of $26 million and $4 million for the three months ended March 31, 2024 and 2023, respectively, and has presented these amounts in selling, general and administrative in its unaudited condensed consolidated statements of earnings Noncash investing activities include the acquisition of property, plant and equipment (PP&E) for which payment has not been made. These noncash capital expenditures are excluded from the unaudited condensed consolidated statements of cash flows. A summary of the PP&E acquired but not yet paid, inclusive of amounts related to the historical aerospace business, is as follows: March 31, ($ in millions) 2024 2023 Beginning of period: PP&E acquired but not yet paid $ 204 $ 392 End of period: PP&E acquired but not yet paid $ 168 $ 321

Receivables, Net

Receivables, Net	3 Months Ended
Receivables, Net	Mar. 31, 2024
Receivables, Net
Receivables, Net	8. Receivables, Net March 31, December 31, ($ in millions) 2024 2023 Trade accounts receivable $ 2,050 $ 1,165 Unbilled receivables 548 520 Less: Allowance for doubtful accounts (13) (15) Net trade accounts receivable 2,585 1,670 Other receivables 465 387 $ 3,050 $ 2,057 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 $1.86 billion and $2.00 billion at March 31, 2024, and December 31, 2023, respectively. A total of $1.30 billion and $350 million were available for sale under these programs as of March 31, 2024, and December 31, 2023, respectively. The combined limit and available for sale amount as of December 31, 2023, include $160 million and $97 million, respectively, associated with receivable factoring programs included within the historical aerospace reportable segment. The company has recorded expense related to its factoring programs of $13 million and $15 million for the three months ended March 31, 2024 and 2023, 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	3 Months Ended
Inventories, Net	Mar. 31, 2024
Inventories, Net
Inventories, Net	9. Inventories, Net March 31, December 31, ($ in millions) 2024 2023 Raw materials and supplies $ 1,092 $ 1,182 Finished goods 494 440 Less: Inventory reserves (88) (91) $ 1,498 $ 1,531

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
Property, Plant and Equipment, Net	Mar. 31, 2024
Property, Plant and Equipment, Net
Property, Plant and Equipment, Net	10. Property, Plant and Equipment, Net March 31, December 31, ($ in millions) 2024 2023 Land $ 206 $ 215 Buildings 1,804 1,792 Machinery and equipment 7,766 7,636 Construction-in-progress 1,041 1,179 10,817 10,822 Accumulated depreciation (4,183) (4,107) $ 6,634 $ 6,715 Depreciation expense was $116 million and $109 million for the three months ended March 31, 2024 and 2023, respectively.

Goodwill

Goodwill	3 Months Ended
Goodwill	Mar. 31, 2024
Goodwill
Goodwill	11. Goodwill ($ in millions) Beverage Packaging, North & Central America Beverage Packaging, EMEA Beverage Packaging, South America Other Total Balance at December 31, 2023 $ 1,277 $ 1,378 $ 1,298 $ 297 $ 4,250 Effects of currency exchange — (37) — (4) (41) Other — — 2 — 2 Balance at March 31, 2024 $ 1,277 $ 1,341 $ 1,300 $ 293 $ 4,211

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
Intangible Assets, Net	Mar. 31, 2024
Goodwill
Intangible Assets, Net	12. Intangible Assets, Net March 31, December 31, ($ in millions) 2024 2023 Acquired customer relationships and other intangibles (net of accumulated amortization and impairment losses of $1.05 billion at March 31, 2024, and $1.06 billion at December 31, 2023) $ 1,150 $ 1,197 Capitalized software (net of accumulated amortization of $164 million at March 31, 2024, and $162 million at December 31, 2023) 36 37 Other intangibles (net of accumulated amortization of $49 million at March 31, 2024, and $49 million at December 31, 2023) 13 14 $ 1,199 $ 1,248 Total amortization expense of intangible assets was $42 million and $38 million for the three months ended March 31, 2024 and 2023, respectively.

Other Assets

Other Assets	3 Months Ended
Other Assets	Mar. 31, 2024
Other Assets..
Other Assets.	13. Other Assets March 31, December 31, ($ in millions) 2024 2023 Long-term pension assets $ 41 $ 41 Right-of-use operating lease assets 345 365 Investments in affiliates 226 212 Long-term deferred tax assets 85 114 Other 633 622 $ 1,330 $ 1,354 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	3 Months Ended
Leases	Mar. 31, 2024
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: March 31, December 31, ($ in millions) Balance Sheet Location 2024 2023 Operating leases: Operating lease ROU asset Other assets $ 345 $ 365 Current operating lease liabilities Other current liabilities 80 83 Noncurrent operating lease liabilities Other liabilities 273 287 Finance leases: Finance lease ROU assets, net Property, plant and equipment, net 8 8 Current finance lease liabilities Short-term debt and current portion of long-term debt 3 3 Noncurrent finance lease liabilities Long-term debt 7 7

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2024
Debt
Debt	15. Debt Long-term debt consisted of the following: March 31, December 31, ($ in millions) 2024 2023 Senior Notes 0.875%, euro denominated, due March 2024 $ — $ 828 5.25% due July 2025 189 1,000 4.875% due March 2026 256 750 1.50%, euro denominated, due March 2027 594 607 6.875% due March 2028 750 750 6.00% due June 2029 1,000 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 — — Term A loan due June 2027 (6.68% - 2024) 625 1,325 Finance lease obligations 10 10 Other (including debt issuance costs) (52) (60) 5,522 8,360 Less: Current portion (3) (856) $ 5,519 $ 7,504 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 March 31, 2024, $1.69 billion was available under these revolving credit facilities. In addition to these facilities, the company had $278 million of committed short-term loans outstanding. The company also had approximately $937 million of short-term uncommitted credit facilities available at March 31, 2024. At December 31, 2023, the company had $196 million of committed short-term loans outstanding and $13 million outstanding under short-term uncommitted credit facilities. On February 14, 2024, Ball announced a public tender of the $1.00 billion 5.25% senior notes due July 2025 and the $750 million 4.875% senior notes due March 2026. On March 14, 2024, $811 million of the $1.00 billion 5.25% senior notes and $494 million of the $750 million 4.875% senior notes were validly tendered and accepted. Additionally, in the first quarter of 2024, Ball repaid at maturity the outstanding 0.875% euro denominated senior notes due in the amount of $817 million and prepaid $700 million of the Term A loan outstanding balance. The fair value of Ball’s long-term debt was estimated to be $5.22 billion and $8.07 billion at March 31, 2024 and December 31, 2023, 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. The company was in compliance with the leverage ratio requirement at March 31, 2024, and for all prior periods presented, and has met all debt payment obligations.

Taxes on Income

Taxes on Income	3 Months Ended
Taxes on Income	Mar. 31, 2024
Taxes on Income
Taxes on Income	16. Taxes on Income The company’s effective tax rate was 26.7 percent and 21.4 percent for the three months ended March 31, 2024 and 2023, respectively. As compared to the statutory U.S. tax rate, the effective tax rate for the three months ended March 31, 2024, increased by 2.4 percentage points for non-U.S. rate differences and withholding taxes net of credits, increased by 1.7 percentage points for U.S. permanent differences, increased by 1.0 percentage points for tax on Global Intangible Low-Taxed Income, increased by 1.0 percentage points for Pillar Two Global Minimum Taxes and decreased by 0.7 percentage points for the effects of share-based compensation. As compared to the statutory U.S. tax rate, the effective tax rate for the three months ended March 31, 2023, increased by 0.9 percentage points for tax on Global Intangible Low-Taxed Income, increased by 0.7 percentage points for U.S. permanent differences and decreased by 1.1 percentage points for the effects of share-based compensation.

Employee Benefit Obligations

Employee Benefit Obligations	3 Months Ended
Employee Benefit Obligations	Mar. 31, 2024
Employee Benefit Obligations
Employee Benefit Obligations	17. Employee Benefit Obligations March 31, December 31, ($ in millions) 2024 2023 Underfunded defined benefit pension liabilities $ 299 $ 323 Less: Current portion (20) (21) Long-term defined benefit pension liabilities 279 302 Long-term retiree medical liabilities 84 90 Deferred compensation plans 217 280 Other 65 63 $ 645 $ 735 Components of net periodic benefit cost associated with the company’s defined benefit pension plans were as follows: Three Months Ended March 31, 2024 2023 ($ in millions) U.S. Non-U.S. Total U.S. Non-U.S. Total Ball-sponsored plans: Service cost $ 4 $ 1 $ 5 $ 4 $ 1 $ 5 Interest cost 15 20 35 16 21 37 Expected return on plan assets (22) (20) (42) (22) (24) (46) Amortization of prior service cost — 1 1 — 1 1 Recognized net actuarial loss 1 4 5 1 — 1 Total net periodic benefit cost $ (2) $ 6 $ 4 $ (1) $ (1) $ (2) Non-service pension income of $1 million and $7 million for the three months ended March 31, 2024 and 2023, 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 $10 million for the first three months of 2024 compared to $4 million for the first three months of 2023, and such contributions are expected to be approximately $33 million for the full year of 2024. This estimate may change based on changes in the Pension Protection Act, actual plan asset performance and available company cash flow, among other factors. In November 2023, the Trustee Board of the U.K. defined benefit pension plan entered into an agreement with an insurance company for a bulk annuity purchase, or “buy-in”, for its U.K. defined benefit pension plan to reduce retirement plan risk, while delivering promised benefits to plan participants. This transaction allows the company to reduce volatility by removing investment, longevity, mortality, interest rate and inflation risk upon the transfer of significantly all of the pension plan assets to the insurer in exchange for the group annuity insurance contract. At this time the Company retains both the fair value of the annuity contract within plan assets and the pension benefit obligations related to these participants. The plan was frozen on April 5, 2024, and the company anticipates the “buy-out” may occur within the next two years, which will trigger a pension settlement that will result in all plan balances, including accumulated pension components within other comprehensive income, being charged to expense as a noncash settlement charge.

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Earnings (Loss)	3 Months Ended
Equity and Accumulated Other Comprehensive Earnings (Loss)	Mar. 31, 2024
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, inclusive of activity related to the aerospace business impacting the company’s equity: 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, 2023 683,241 $ 1,312 (367,551) $ (4,390) $ 7,763 $ (916) $ 68 $ 3,837 Net earnings — — — — 3,685 — 1 3,686 Other comprehensive earnings (loss), net of tax — — — — — 23 — 23 Common dividends — — — — (63) — — (63) Treasury stock purchases — — (3,065) (196) — — — (196) Treasury shares reissued — — 72 7 — — — 7 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 319 40 — — — — — 40 Distributions from deferred compensation plans and other activity — — — 42 1 — — 43 Balance at March 31, 2024 683,560 $ 1,352 (370,544) $ (4,537) $ 11,386 $ (893) $ 69 $ 7,377 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 — — — — 177 — 3 180 Other comprehensive earnings (loss), net of tax — — — — — 42 — 42 Common dividends — — — — (63) — — (63) Treasury stock purchases — — (39) (3) — — — (3) Treasury shares reissued — — 146 8 — — — 8 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 272 8 — — — — — 8 Other activity — — — 10 (1) — — 9 Balance at March 31, 2023 682,416 $ 1,268 (367,929) $ (4,414) $ 7,422 $ (637) $ 69 $ 3,708 On April 24, 2024, Ball’s Board of Directors approved the repurchase by the company of up to a total of 40 million shares of its common stock. This repurchase authorization replaced all previous authorizations. Accumulated Other Comprehensive Earnings (Loss) The activity related to accumulated other comprehensive earnings (loss) was as follows: ($ in millions) 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, 2023 $ (380) $ (537) (a) $ 1 $ (916) Other comprehensive earnings (loss) before reclassifications (87) 8 31 (48) Amounts reclassified into earnings — 3 (26) (23) Aerospace disposal — 94 — 94 Balance at March 31, 2024 $ (467) $ (432) $ 6 $ (893) (a) Includes amounts associated with the Salaried Employees of Ball Aerospace & Technologies Corp. Pension Plan. The following table provides additional details of the amounts reclassified into net earnings from accumulated other comprehensive earnings (loss): Three Months Ended March 31, ($ in millions) 2024 2023 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ 13 $ (13) Commodity contracts recorded in cost of sales (14) — Currency exchange contracts recorded in selling, general and administrative 32 (3) Interest rate contracts recorded in interest expense 3 — Total before tax effect 34 (16) Tax benefit (expense) on amounts reclassified into earnings (8) 4 Recognized gain (loss), net of tax $ 26 $ (12) Amortization and disposal of pension and other postretirement benefits: (a) Actuarial gains (losses) (b) $ (3) $ (1) Prior service income (expense) (b) (1) (1) Aerospace disposal (127) — Total before tax effect (131) (2) Tax benefit (expense) on amounts reclassified into earnings 34 1 Recognized gain (loss), net of tax $ (97) $ (1) (a) Includes amounts associated with the Salaried Employees of Ball Aerospace & Technologies Corp. Pension Plan (b) 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	3 Months Ended
Earnings and Dividends Per Share	Mar. 31, 2024
Earnings and Dividends Per Share
Earnings (Loss) and Dividends Per Share	19. Earnings and Dividends Per Share Three Months Ended March 31, ($ in millions, except per share amounts; shares in thousands) 2024 2023 Earnings from continuing operations attributable to Ball Corporation, net of tax $ 78 $ 125 Discontinued operations, net of tax 3,607 52 Net earnings attributable to Ball Corporation $ 3,685 $ 177 Basic weighted average common shares 314,950 314,236 Effect of dilutive securities 2,435 2,431 Weighted average shares applicable to diluted earnings per share 317,385 316,667 Basic - continuing operations $ 0.25 $ 0.40 Basic - discontinued operations 11.45 0.16 Per basic share $ 11.70 $ 0.56 Diluted - continuing operations $ 0.25 $ 0.40 Diluted - discontinued operations 11.36 0.16 Per diluted share $ 11.61 $ 0.56 Certain outstanding options were excluded from the diluted earnings per share calculation because they were anti-dilutive. The excluded options totaled approximately 5 million and 4 million for the three months ended March 31, 2024 and 2023, respectively. The company declared and paid dividends of $0.20 per share for the three months ended March 31, 2024 and 2023.

Financial Instruments and Risk

Financial Instruments and Risk Management	3 Months Ended
Financial Instruments and Risk Management	Mar. 31, 2024
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) March 31, 2024 Commercial risk area Commodity Currency Interest Rate Notional amount of contracts $ 1,104 $ 4,552 $ 600 Net gain (loss) included in AOCI, after-tax (2) (3) 11 Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months (2) 9 11 Longest duration of forecasted cash flow hedge transactions in years 2 2 3 Common Stock Price Risk The company’s deferred compensation stock program is subject to variable plan accounting and, accordingly, is marked to fair value using the company’s closing stock price at the end of the related reporting period. The company entered into total return swaps to reduce the company’s earnings exposure to these fair value fluctuations that will be outstanding through March 2025, and which have a combined notional value of 1.5 million shares. Based on the current number of shares in the program, each $1 change in the company’s stock price would have an insignificant impact on pretax earnings, net of the impact of related derivatives. Fair Value Measurements Ball has classified all applicable financial derivative assets and liabilities as Level 2 within the fair value hierarchy as of March 31, 2024, and December 31, 2023, and presented those values in the tables below. The company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. March 31, 2024 ($ in millions) Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total Assets: Commodity contracts $ 16 $ — $ 16 Currency contracts 76 9 85 Interest rate and other contracts 18 4 22 Total current derivative contracts Other current assets $ 110 $ 13 $ 123 Commodity contracts $ 1 $ — $ 1 Currency contracts 11 — 11 Total noncurrent derivative contracts Other noncurrent assets $ 12 $ — $ 12 Liabilities: Commodity contracts $ 15 $ — $ 15 Currency contracts — 18 18 Interest rate and other contracts 3 — 3 Total current derivative contracts Other current liabilities $ 18 $ 18 $ 36 Commodity contracts $ 1 $ — $ 1 Currency contracts — 1 1 Total noncurrent derivative contracts Other noncurrent liabilities $ 1 $ 1 $ 2 December 31, 2023 ($ in millions) Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total Assets: Commodity contracts $ 20 $ — $ 20 Currency contracts 65 13 78 Interest rate and other contracts 9 2 11 Total current derivative contracts Other current assets $ 94 $ 15 $ 109 Currency contracts $ 1 $ — $ 1 Total noncurrent derivative contracts Other noncurrent assets $ 1 $ — $ 1 Liabilities: Commodity contracts $ 19 $ — $ 19 Currency contracts — 30 30 Interest rate and other contracts 3 — 3 Total current derivative contracts Other current liabilities $ 22 $ 30 $ 52 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 March 31, 2024, has not identified any circumstances requiring the reported values of the company’s financial instruments be adjusted. The following table provides the effects of derivative instruments in the unaudited condensed consolidated statements of earnings and on accumulated other comprehensive earnings (loss): Three Months Ended March 31, 2024 2023 ($ 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 $ 13 $ — $ (13) $ — Commodity contracts - manage exposure to supplier pricing Cost of sales (14) 3 — (7) Interest rate contracts - manage exposure for outstanding debt Interest expense 3 — — (5) Currency contracts - manage currency exposure Selling, general and administrative 32 27 (3) (1) Equity contracts Selling, general and administrative — 14 — 8 Total $ 34 $ 44 $ (16) $ (5) The changes in accumulated other comprehensive earnings (loss) for derivatives designated as hedges were as follows: Three Months Ended March 31, ($ in millions) 2024 2023 Amounts reclassified into earnings: Commodity contracts $ 1 $ 13 Interest rate contracts (3) — Currency exchange contracts (32) 3 Change in fair value of cash flow hedges: Commodity contracts 1 14 Interest rate contracts 12 — Currency exchange contracts 29 (1) Currency and tax impacts (3) (8) $ 5 $ 21

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2024
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 On February 1, 2012, Ball Metal Beverage Container Corp. (“BMBCC”) filed suit against Crown Technology Holding, Inc. (“Crown”) in the United States District Court for the Southern District of Ohio seeking a declaratory judgment that the CDL beverage can end made and sold by BMBCC did not infringe certain U.S. patents held by Crown. In response, Crown filed a counterclaim alleging that the CDL ends made and sold by BMBCC infringed the subject patents and seeking damages. On September 25, 2019, the District Court granted BMBCC’s motion for summary judgment holding that the patents at issue were invalid due to indefiniteness. On October 20, 2019, Crown appealed this decision to the Court of Appeals for the Federal Circuit (“CAFC”). On December 31, 2020, the CAFC in a non-precedential decision, vacated the decision of the District Court finding that the District Court had not considered an additional factor under a novel position advanced by the CAFC, and remanded the case to the District Court for further proceedings. On August 2, 2023, the District Court again granted summary judgment to Ball finding that patent claims at issue are invalid due to invalidity under the revised analytical framework specified by the CAFC. On August 4, 2023, Crown appealed this decision to the CAFC. Briefing for this appeal concluded on February 20, 2024. Oral argument is expected to be scheduled during 2024 with a decision to follow. Based on the information available at the present time, the Company is unable to predict the ultimate outcome of this claim including the amount of any reasonably possible loss and we intend to vigorously defend this matter. 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. Based on the information available at the present time, the Company is unable to predict the ultimate outcome of these claims including the amount of reasonably possible loss and intends to vigorously defend these matters.

Indemnifications and Guarantees

Indemnifications and Guarantees	3 Months Ended
Indemnifications and Guarantees	Mar. 31, 2024
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 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 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)	3 Months Ended
Business Segment Information (Tables)	Mar. 31, 2024
Business Segment Information
Summary of business by segment	Three Months Ended March 31, ($ in millions) 2024 2023 Net sales Beverage packaging, North and Central America $ 1,403 $ 1,504 Beverage packaging, EMEA 810 834 Beverage packaging, South America 482 450 Reportable segment sales 2,695 2,788 Other 179 193 Net sales $ 2,874 $ 2,981 Comparable operating earnings Beverage packaging, North and Central America $ 192 $ 183 Beverage packaging, EMEA 85 73 Beverage packaging, South America 55 50 Reportable segment comparable operating earnings 332 306 Reconciling items Other (a) (72) 15 Business consolidation and other activities (26) (20) Amortization of acquired intangibles (38) (34) Earnings before interest and taxes 196 267 Interest expense (93) (113) Debt refinancing and other costs (2) — Total interest expense (95) (113) Earnings before taxes $ 101 $ 154 (a) Includes undistributed corporate expenses, net, of $96 million and $10 million for the three months ended March 31, 2024 and 2023, respectively. For the three months ended March 31, 2024, undistributed corporate expenses, net, includes $79 million of incremental compensation cost from the successful sale of the aerospace business consisting of cash bonuses and stock based compensation. For the three months ended March 31, 2024, undistributed corporate expenses, net, also includes $17 million of corporate interest income.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	3 Months Ended
Acquisitions and Dispositions (Tables)	Mar. 31, 2024
Acquisitions and Dispositions
Schedule of components of discontinued operations	Three Months Ended March 31, ($ in millions) 2024 2023 Net sales $ 261 $ 508 Cost of sales (excluding depreciation and amortization) (214) (413) Depreciation and amortization (9) (19) Selling, general and administrative (11) (16) Gain on disposition 4,695 — Tax (provision) benefit (1,115) (8) Discontinued operations, net of tax $ 3,607 $ 52 December 31, ($ in millions) 2023 Assets Current assets Receivables, net $ 277 Other current assets 56 Total current assets 333 Noncurrent assets Property, plant and equipment, net 665 Other assets 188 Total assets of discontinued operations $ 1,186 Liabilities Current liabilities Accounts payable $ 92 Accrued employee costs 88 Deferred revenue 221 Other current liabilities 34 Total current liabilities 435 Noncurrent liabilities Employee benefit obligations 163 Other liabilities 74 Total liabilities of discontinued operations $ 672 Three Months Ended March 31, ($ in millions) 2024 2023 Provided by (used in) Depreciation and amortization $ 9 $ 19 Gain on Aerospace disposal (4,695) - Capital expenditures (13) (24) Three Months Ended March 31, ($ in millions) 2024 2023 Supplemental cash flow information: PP&E acquired but not yet paid $ 17 $ 16

Revenue from Contracts With C_2

Revenue from Contracts With Customers (Tables)	3 Months Ended
Revenue from Contracts With Customers (Tables)	Mar. 31, 2024
Revenue from Contracts with Customers
Schedule of the disaggregation of revenue by timing of transfer of control	($ in millions) Three Months Ended March 31, Point in Time Over Time Total 2024 $ 556 $ 2,318 $ 2,874 2023 542 2,439 2,981
Schedule of balances of contract liabilities	Contract Contract Liabilities Liabilities ($ in millions) (Current) (Noncurrent) Balance at December 31, 2023 $ 114 $ 3 Increase (decrease) (15) (1) Balance at March 31, 2024 $ 99 $ 2

Business Consolidation and Ot_2

Business Consolidation and Other Activities (Tables)	3 Months Ended
Business Consolidation and Other Activities (Tables)	Mar. 31, 2024
Business Consolidation and Other Activities
Summary of business consolidation and other activity (charges) / income included in the condensed consolidated statements of earnings	Three Months Ended March 31, ($ in millions) 2024 2023 Beverage packaging, North and Central America $ (30) $ (22) Beverage packaging, EMEA — 5 Beverage packaging, South America (1) (2) Other 5 (1) $ (26) $ (20)

Supplemental Cash Flow Statem_2

Supplemental Cash Flow Statement Disclosures (Tables)	3 Months Ended
Supplemental Cash Flow Statement Disclosures (Tables)	Mar. 31, 2024
Supplemental Cash Flow Statement Disclosures
Schedule of cash, cash equivalents and restricted cash	March 31, ($ in millions) 2024 2023 Beginning of period: Cash and cash equivalents $ 695 $ 548 Current restricted cash (included in other current assets) 15 10 Total cash, cash equivalents and restricted cash $ 710 $ 558 End of period: Cash and cash equivalents $ 1,719 $ 572 Current restricted cash (included in other current assets) 6 22 Total cash, cash equivalents and restricted cash $ 1,725 $ 594
Summary of PP&E acquired but not yet paid	March 31, ($ in millions) 2024 2023 Beginning of period: PP&E acquired but not yet paid $ 204 $ 392 End of period: PP&E acquired but not yet paid $ 168 $ 321

Receivables, Net (Tables)

Receivables, Net (Tables)	3 Months Ended
Receivables, Net (Tables)	Mar. 31, 2024
Receivables, Net
Schedule of receivables	March 31, December 31, ($ in millions) 2024 2023 Trade accounts receivable $ 2,050 $ 1,165 Unbilled receivables 548 520 Less: Allowance for doubtful accounts (13) (15) Net trade accounts receivable 2,585 1,670 Other receivables 465 387 $ 3,050 $ 2,057

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
Inventories, Net (Tables)	Mar. 31, 2024
Inventories, Net
Schedule of inventories	March 31, December 31, ($ in millions) 2024 2023 Raw materials and supplies $ 1,092 $ 1,182 Finished goods 494 440 Less: Inventory reserves (88) (91) $ 1,498 $ 1,531

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
Property, Plant and Equipment, Net (Tables)	Mar. 31, 2024
Property, Plant and Equipment, Net
Schedule of property, plant and equipment	March 31, December 31, ($ in millions) 2024 2023 Land $ 206 $ 215 Buildings 1,804 1,792 Machinery and equipment 7,766 7,636 Construction-in-progress 1,041 1,179 10,817 10,822 Accumulated depreciation (4,183) (4,107) $ 6,634 $ 6,715

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
Goodwill (Tables)	Mar. 31, 2024
Goodwill
Schedule of goodwill	($ in millions) Beverage Packaging, North & Central America Beverage Packaging, EMEA Beverage Packaging, South America Other Total Balance at December 31, 2023 $ 1,277 $ 1,378 $ 1,298 $ 297 $ 4,250 Effects of currency exchange — (37) — (4) (41) Other — — 2 — 2 Balance at March 31, 2024 $ 1,277 $ 1,341 $ 1,300 $ 293 $ 4,211

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
Intangible Assets, Net (Tables)	Mar. 31, 2024
Goodwill
Schedule of Finite-Lived Intangible Assets	March 31, December 31, ($ in millions) 2024 2023 Acquired customer relationships and other intangibles (net of accumulated amortization and impairment losses of $1.05 billion at March 31, 2024, and $1.06 billion at December 31, 2023) $ 1,150 $ 1,197 Capitalized software (net of accumulated amortization of $164 million at March 31, 2024, and $162 million at December 31, 2023) 36 37 Other intangibles (net of accumulated amortization of $49 million at March 31, 2024, and $49 million at December 31, 2023) 13 14 $ 1,199 $ 1,248

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
Other Assets (Tables)	Mar. 31, 2024
Other Assets..
Schedule of other assets	March 31, December 31, ($ in millions) 2024 2023 Long-term pension assets $ 41 $ 41 Right-of-use operating lease assets 345 365 Investments in affiliates 226 212 Long-term deferred tax assets 85 114 Other 633 622 $ 1,330 $ 1,354

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases
Schedule of supplemental balance sheet information related to leases	March 31, December 31, ($ in millions) Balance Sheet Location 2024 2023 Operating leases: Operating lease ROU asset Other assets $ 345 $ 365 Current operating lease liabilities Other current liabilities 80 83 Noncurrent operating lease liabilities Other liabilities 273 287 Finance leases: Finance lease ROU assets, net Property, plant and equipment, net 8 8 Current finance lease liabilities Short-term debt and current portion of long-term debt 3 3 Noncurrent finance lease liabilities Long-term debt 7 7

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2024
Debt
Schedule of long-term debt	March 31, December 31, ($ in millions) 2024 2023 Senior Notes 0.875%, euro denominated, due March 2024 $ — $ 828 5.25% due July 2025 189 1,000 4.875% due March 2026 256 750 1.50%, euro denominated, due March 2027 594 607 6.875% due March 2028 750 750 6.00% due June 2029 1,000 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 — — Term A loan due June 2027 (6.68% - 2024) 625 1,325 Finance lease obligations 10 10 Other (including debt issuance costs) (52) (60) 5,522 8,360 Less: Current portion (3) (856) $ 5,519 $ 7,504

Employee Benefit Obligations (T

Employee Benefit Obligations (Tables)	3 Months Ended
Employee Benefit Obligations (Tables)	Mar. 31, 2024
Employee Benefit Obligations
Schedule of employee benefit obligations	March 31, December 31, ($ in millions) 2024 2023 Underfunded defined benefit pension liabilities $ 299 $ 323 Less: Current portion (20) (21) Long-term defined benefit pension liabilities 279 302 Long-term retiree medical liabilities 84 90 Deferred compensation plans 217 280 Other 65 63 $ 645 $ 735
Defined Benefit Pension Plans
Employee Benefit Obligations
Components of net periodic benefit cost	Three Months Ended March 31, 2024 2023 ($ in millions) U.S. Non-U.S. Total U.S. Non-U.S. Total Ball-sponsored plans: Service cost $ 4 $ 1 $ 5 $ 4 $ 1 $ 5 Interest cost 15 20 35 16 21 37 Expected return on plan assets (22) (20) (42) (22) (24) (46) Amortization of prior service cost — 1 1 — 1 1 Recognized net actuarial loss 1 4 5 1 — 1 Total net periodic benefit cost $ (2) $ 6 $ 4 $ (1) $ (1) $ (2)

Equity and Accumulated Other _2

Equity and Accumulated Other Comprehensive Earnings (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
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 December 31, 2023 683,241 $ 1,312 (367,551) $ (4,390) $ 7,763 $ (916) $ 68 $ 3,837 Net earnings — — — — 3,685 — 1 3,686 Other comprehensive earnings (loss), net of tax — — — — — 23 — 23 Common dividends — — — — (63) — — (63) Treasury stock purchases — — (3,065) (196) — — — (196) Treasury shares reissued — — 72 7 — — — 7 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 319 40 — — — — — 40 Distributions from deferred compensation plans and other activity — — — 42 1 — — 43 Balance at March 31, 2024 683,560 $ 1,352 (370,544) $ (4,537) $ 11,386 $ (893) $ 69 $ 7,377 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 — — — — 177 — 3 180 Other comprehensive earnings (loss), net of tax — — — — — 42 — 42 Common dividends — — — — (63) — — (63) Treasury stock purchases — — (39) (3) — — — (3) Treasury shares reissued — — 146 8 — — — 8 Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged 272 8 — — — — — 8 Other activity — — — 10 (1) — — 9 Balance at March 31, 2023 682,416 $ 1,268 (367,929) $ (4,414) $ 7,422 $ (637) $ 69 $ 3,708
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, 2023 $ (380) $ (537) (a) $ 1 $ (916) Other comprehensive earnings (loss) before reclassifications (87) 8 31 (48) Amounts reclassified into earnings — 3 (26) (23) Aerospace disposal — 94 — 94 Balance at March 31, 2024 $ (467) $ (432) $ 6 $ (893) (a) Includes amounts associated with the Salaried Employees of Ball Aerospace & Technologies Corp. Pension Plan.
Information related to amounts reclassified into net earnings from accumulated other comprehensive earnings (loss)	Three Months Ended March 31, ($ in millions) 2024 2023 Gains (losses) on cash flow hedges: Commodity contracts recorded in net sales $ 13 $ (13) Commodity contracts recorded in cost of sales (14) — Currency exchange contracts recorded in selling, general and administrative 32 (3) Interest rate contracts recorded in interest expense 3 — Total before tax effect 34 (16) Tax benefit (expense) on amounts reclassified into earnings (8) 4 Recognized gain (loss), net of tax $ 26 $ (12) Amortization and disposal of pension and other postretirement benefits: (a) Actuarial gains (losses) (b) $ (3) $ (1) Prior service income (expense) (b) (1) (1) Aerospace disposal (127) — Total before tax effect (131) (2) Tax benefit (expense) on amounts reclassified into earnings 34 1 Recognized gain (loss), net of tax $ (97) $ (1) (a) Includes amounts associated with the Salaried Employees of Ball Aerospace & Technologies Corp. Pension Plan (b) 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)	3 Months Ended
Earnings and Dividends Per Share (Tables)	Mar. 31, 2024
Earnings and Dividends Per Share
Schedule of earnings (loss) per share	Three Months Ended March 31, ($ in millions, except per share amounts; shares in thousands) 2024 2023 Earnings from continuing operations attributable to Ball Corporation, net of tax $ 78 $ 125 Discontinued operations, net of tax 3,607 52 Net earnings attributable to Ball Corporation $ 3,685 $ 177 Basic weighted average common shares 314,950 314,236 Effect of dilutive securities 2,435 2,431 Weighted average shares applicable to diluted earnings per share 317,385 316,667 Basic - continuing operations $ 0.25 $ 0.40 Basic - discontinued operations 11.45 0.16 Per basic share $ 11.70 $ 0.56 Diluted - continuing operations $ 0.25 $ 0.40 Diluted - discontinued operations 11.36 0.16 Per diluted share $ 11.61 $ 0.56

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	3 Months Ended
Financial Instruments and Risk Management (Tables)	Mar. 31, 2024
Financial Instruments and Risk Management
Schedule of additional information related to the commercial risk management instruments	($ in millions) March 31, 2024 Commercial risk area Commodity Currency Interest Rate Notional amount of contracts $ 1,104 $ 4,552 $ 600 Net gain (loss) included in AOCI, after-tax (2) (3) 11 Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months (2) 9 11 Longest duration of forecasted cash flow hedge transactions in years 2 2 3
Schedule of fair value of derivative instruments	March 31, 2024 ($ in millions) Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total Assets: Commodity contracts $ 16 $ — $ 16 Currency contracts 76 9 85 Interest rate and other contracts 18 4 22 Total current derivative contracts Other current assets $ 110 $ 13 $ 123 Commodity contracts $ 1 $ — $ 1 Currency contracts 11 — 11 Total noncurrent derivative contracts Other noncurrent assets $ 12 $ — $ 12 Liabilities: Commodity contracts $ 15 $ — $ 15 Currency contracts — 18 18 Interest rate and other contracts 3 — 3 Total current derivative contracts Other current liabilities $ 18 $ 18 $ 36 Commodity contracts $ 1 $ — $ 1 Currency contracts — 1 1 Total noncurrent derivative contracts Other noncurrent liabilities $ 1 $ 1 $ 2 December 31, 2023 ($ in millions) Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Total Assets: Commodity contracts $ 20 $ — $ 20 Currency contracts 65 13 78 Interest rate and other contracts 9 2 11 Total current derivative contracts Other current assets $ 94 $ 15 $ 109 Currency contracts $ 1 $ — $ 1 Total noncurrent derivative contracts Other noncurrent assets $ 1 $ — $ 1 Liabilities: Commodity contracts $ 19 $ — $ 19 Currency contracts — 30 30 Interest rate and other contracts 3 — 3 Total current derivative contracts Other current liabilities $ 22 $ 30 $ 52 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 March 31, 2024 2023 ($ 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 $ 13 $ — $ (13) $ — Commodity contracts - manage exposure to supplier pricing Cost of sales (14) 3 — (7) Interest rate contracts - manage exposure for outstanding debt Interest expense 3 — — (5) Currency contracts - manage currency exposure Selling, general and administrative 32 27 (3) (1) Equity contracts Selling, general and administrative — 14 — 8 Total $ 34 $ 44 $ (16) $ (5)
Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives	Three Months Ended March 31, ($ in millions) 2024 2023 Amounts reclassified into earnings: Commodity contracts $ 1 $ 13 Interest rate contracts (3) — Currency exchange contracts (32) 3 Change in fair value of cash flow hedges: Commodity contracts 1 14 Interest rate contracts 12 — Currency exchange contracts 29 (1) Currency and tax impacts (3) (8) $ 5 $ 21

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
Basis of Presentation (Details)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($) segment
Basis of Presentation
Number of reportable segments	3	3
ARGENTINA
Basis of Presentation
Net asset exposure	$ 403,000,000	$ 403,000,000
ARGENTINA \| Argentina, Pesos
Basis of Presentation
Net assets	$ 44,000,000	$ 44,000,000

Accounting Pronouncements (Deta

Accounting Pronouncements (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounting Pronouncements
Financial institutions obligation outstanding	$ 573	$ 703

Business Segment Information -

Business Segment Information - Summary of Business (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2004 USD ($)	Mar. 31, 2003 USD ($)
Business Segment Information
Number of reportable segments	3
Net sales
Net sales	$ 2,874,000,000	$ 2,981,000,000	$ 2,981,000,000
Reconciling items
Other	(72,000,000)	15,000,000
Business consolidation and other activities	(26,000,000)	(20,000,000)		$ 26,000,000	$ 20,000,000
Amortization of acquired intangibles	(42,000,000)	(38,000,000)
Earnings before interest and taxes	196,000,000	267,000,000
Interest expense	(93,000,000)	(113,000,000)
Debt refinancing and other costs	(2,000,000)
Total interest expense	(95,000,000)	(113,000,000)
Earnings before taxes	101,000,000	154,000,000
Undistributed corporate expenses	96,000,000	10,000,000
Depreciation and Amortization
Depreciation and amortization	167,000,000	166,000,000
Operating segments
Net sales
Net sales	2,695,000,000	2,788,000,000
Comparable operating earnings
Reportable segment comparable operating earnings	332,000,000	306,000,000
Operating segments \| Beverage packaging, North And Central America
Net sales
Net sales	1,403,000,000	1,504,000,000
Comparable operating earnings
Reportable segment comparable operating earnings	192,000,000	183,000,000
Reconciling items
Business consolidation and other activities				(30,000,000)	(22,000,000)
Operating segments \| Beverage packaging, EMEA
Net sales
Net sales	810,000,000	834,000,000
Comparable operating earnings
Reportable segment comparable operating earnings	85,000,000	73,000,000
Reconciling items
Business consolidation and other activities					5,000,000
Operating segments \| Beverage packaging, South America
Net sales
Net sales	482,000,000	450,000,000
Comparable operating earnings
Reportable segment comparable operating earnings	55,000,000	50,000,000
Reconciling items
Business consolidation and other activities				(1,000,000)	(2,000,000)
Other.
Net sales
Net sales	179,000,000	193,000,000
Reconciling items
Business consolidation and other activities				$ 5,000,000	$ (1,000,000)
Reconciling item
Reconciling items
Incremental compensation cost including cash bonuses and stock-based compensation	79,000,000
Corporate interest income	17,000,000
Rexam
Reconciling items
Amortization of acquired intangibles	$ (38,000,000)	$ (34,000,000)

Acquisitions and Dispositions -

Acquisitions and Dispositions - Discontinued Operations Aerospace (Details) - USD ($) $ in Millions		3 Months Ended
	Feb. 16, 2024	Mar. 31, 2024
Schedule of Equity Method Investments [Line Items]
Business dispositions, net of cash sold		$ 5,422
Gain on disposition		4,695
Discontinued Operations, Disposed of by Sale \| Aerospace Business
Schedule of Equity Method Investments [Line Items]
Pre-tax gain	$ 20
Business dispositions, net of cash sold		5,420
Tax Effect of Gain (Loss)		$ 1,000
Consideration for the sale of business	5,600
Gain on disposition	$ 4,670

- Acquisitions and Dispositions

- Acquisitions and Dispositions - Discontinued operations, net of tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Acquisitions and Dispositions
Net sales	$ 261	$ 508
Cost of sales (excluding depreciation and amortization)	(214)	(413)
Depreciation and amortization	(9)	(19)
Selling, general and administrative	(11)	(16)
Gain on disposition	4,695
Tax (provision) benefit	(1,115)	(8)
Discontinued operations, net of tax	$ 3,607	$ 52

Acquistions and Dispositions -

Acquistions and Dispositions - Assets and liabilities classified as held for sale (Details) $ in Millions	Dec. 31, 2023 USD ($)
Current assets
Receivables	$ 277
Other current assets	56
Total current assets	333
Noncurrent assets
Property, plant and equipment, net	665
Other assets	188
Total assets of discontinued operations	1,186
Current liabilities
Accounts payable	92
Accrued employee costs	88
Deferred revenue	221
Other current liabilities	34
Total current liabilities	435
Noncurrent liabilities
Employee benefit obligations	163
Other liabilities	74
Total liabilities of discontinued operations	$ 672

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Significant cash flow items from discontinued operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Acquisitions and Dispositions
Depreciation and amortization	$ (9)	$ (19)
Gain on Aerospace disposal	(4,695)
Capital expenditures	$ (13)	$ (24)

Acquisitions and Dispositions_3

Acquisitions and Dispositions - Acquisition of property, plant and equipment (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
PP&E acquired but not yet paid	$ 168	$ 321	$ 204	$ 392
Discontinued Operations, Disposed of by Sale
Schedule of Equity Method Investments [Line Items]
PP&E acquired but not yet paid	$ 17	$ 16

Revenue from Contracts With C_3

Revenue from Contracts With Customers - Disaggregation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2022
Revenue from Contracts with Customers
Commodity contracts recorded in net sales	$ 2,874	$ 2,981	$ 2,981
Point in Time
Revenue from Contracts with Customers
Commodity contracts recorded in net sales	556		542
Over Time
Revenue from Contracts with Customers
Commodity contracts recorded in net sales	$ 2,318		$ 2,439

Revenue from Contracts With C_4

Revenue from Contracts With Customers - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Contract Balances
Contract assets	$ 0	$ 0
Balance at beginning of period, Contract Liabilities (Current)	114
Increase (decrease) contract liabilities (current)	(15)
Balance at end of period, Contract Liabilities (Current)	99
Balance at beginning of period, Contract Liabilities (Noncurrent)	3
Increase (decrease) contract liabilities (noncurrent)	(1)
Balance at end of period, Contract Liabilities (Noncurrent)	2
Total increase (decrease) in contract liabilities	(16)
Cash received on contract liabilities	73
Revenue recognized as sales	89
Revenue recognized from opening balance of contract liabilities	$ 89

Business Consolidation and Ot_3

Business Consolidation and Other Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2004	Mar. 31, 2003
Business consolidation and other activities
Business consolidation and other activities	$ (26)	$ (20)	$ 26	$ 20
Gain on Aerospace disposal	$ 4,695
Disposal group, disposed of by sale, not discontinued operations \| Aerospace Business
Business consolidation and other activities
Business consolidation and other activities			26	20
Operating segments \| Beverage packaging, North And Central America
Business consolidation and other activities
Business consolidation and other activities			(30)	(22)
Operating segments \| Beverage packaging, EMEA
Business consolidation and other activities
Business consolidation and other activities				5
Operating segments \| Beverage packaging, South America
Business consolidation and other activities
Business consolidation and other activities			(1)	(2)
Other.
Business consolidation and other activities
Business consolidation and other activities			$ 5	$ (1)

Supplemental Cash Flow Statem_3

Supplemental Cash Flow Statement Disclosures (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents	$ 1,719	$ 572	$ 695	$ 548
Current restricted cash (included in other current assets)	$ 6	$ 22	15	10
Location of current restricted cash	Other current assets	Other current assets
Cash, cash equivalents and restricted cash - beginning of period	$ 1,725	$ 594	710	558
Other Non-cash items
Noncash capital expenditures	168	321	$ 204	$ 392
Selling, general and administrative
Cash, Cash Equivalents and Restricted Cash
Corporate interest income	$ 26	$ 4

Receivables, Net (Details)

Receivables, Net (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Receivables, Net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 30, 2022	Dec. 31, 2023
Receivables
Trade accounts receivable	$ 2,050		$ 1,165
Unbilled receivables	548		520
Less: Allowance for doubtful accounts	(13)		(15)
Net trade accounts receivable	2,585		1,670
Other receivables	465		387
Receivables, net	3,050		2,057
Maximum available sale of the accounts receivables under factoring program	1,860		2,000
Amount of accounts receivable available for sale under the factoring program	1,300		350
Factoring program expense included in statement of earnings	$ 13	$ 15
Aerospace
Receivables
Maximum available sale of the accounts receivables under factoring program			160
Amount of accounts receivable available for sale under the factoring program			$ 97

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventories, Net
Raw materials and supplies	$ 1,092	$ 1,182
Work-in-process and finished goods	494	440
Less: Inventory reserves	(88)	(91)
Inventories, net	$ 1,498	$ 1,531

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Property, plant and equipment
Property, plant and equipment, gross	$ 10,817		$ 10,822
Accumulated depreciation	(4,183)		(4,107)
Net property, plant and equipment	6,634		6,715
Depreciation expense	116	$ 109
Land
Property, plant and equipment
Property, plant and equipment, gross	206		215
Buildings
Property, plant and equipment
Property, plant and equipment, gross	1,804		1,792
Machinery and equipment
Property, plant and equipment
Property, plant and equipment, gross	7,766		7,636
Construction-in-progress
Property, plant and equipment
Property, plant and equipment, gross	$ 1,041		$ 1,179

Goodwill (Details)

Goodwill (Details) $ in Millions	3 Months Ended
Goodwill (Details) $ in Millions	Mar. 31, 2024 USD ($)
Goodwill
Balance at the beginning of the period	$ 4,250
Effects of currency exchange	(41)
Other	2
Balance at the end of the period	4,211
Beverage packaging, North And Central America
Goodwill
Balance at the beginning of the period	1,277
Balance at the end of the period	1,277
Beverage packaging, EMEA
Goodwill
Balance at the beginning of the period	1,378
Effects of currency exchange	(37)
Balance at the end of the period	1,341
Beverage packaging, South America
Goodwill
Balance at the beginning of the period	1,298
Other	2
Balance at the end of the period	1,300
Other
Goodwill
Balance at the beginning of the period	297
Effects of currency exchange	(4)
Balance at the end of the period	$ 293

Intangibles Assets, Net (Detail

Intangibles Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended
Intangibles Assets, Net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	$ 1,199		$ 1,248
Amortization expense	42	$ 38
Customer relationships and other intangibles
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	1,150		1,197
Accumulated amortization and impairment losses	1,050		1,060
Capitalized software
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	36		37
Accumulated amortization and impairment losses	164		162
Other intangibles
Total annual intangible asset amortization expense
Intangible assets (net of accumulated amortization)	13		14
Accumulated amortization and impairment losses	$ 49		$ 49

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Other assets
Long-term pension assets	$ 41	$ 41
Right-of-use operating lease assets	$ 345	$ 365
Balance sheet location for operating lease assets	Other Assets	Other Assets
Investments in affiliates	$ 226	$ 212
Long-term deferred tax assets	85	114
Other	633	622
Other Assets	$ 1,330	$ 1,354
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	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Supplemental balance sheet information
Balance sheet location for operating lease assets	Other assets	Other assets
Operating lease ROU asset	$ 345	$ 365
Balance sheet location for operating lease current liabilities	Other current liabilities		Other current liabilities
Current operating lease liabilities	$ 80	83
Balance sheet location for operating lease noncurrent liabilities	Other liabilities		Other liabilities
Noncurrent operating lease liabilities	$ 273	287
Balance sheet location for finance lease assets	Property, plant and equipment, net		Property, plant and equipment, net
Finance lease ROU assets, net	$ 8	8
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	$ 3	3
Balance sheet location for finance lease noncurrent liabilities	Long-term debt		Long-term debt
Noncurrent finance lease liabilities	$ 7	$ 7

Debt - Long term debt (Details)

Debt - Long term debt (Details) - USD ($) $ in Millions	3 Months Ended
Debt - Long term debt (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 14, 2024	Feb. 14, 2024	Dec. 31, 2023	Mar. 31, 2023
Long-term debt
Finance lease obligations	$ 10			$ 10
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)	$ (52)			(60)
Long-term debt, Total	5,522			8,360
Less: Current portion	(3)			(856)
Long-term debt excluding current maturities	$ 5,519			7,504
Senior Notes 0.875%, euro denominated, due March 2024
Long-term debt
Long-term debt				828
Interest rate (as a percent)	0.875%				0.875%
Senior Notes 5.25% due July 2025
Long-term debt
Long-term debt	$ 189			1,000
Interest rate (as a percent)	5.25%	5.25%	5.25%		5.25%
Senior Notes 4.875% due March 2026
Long-term debt
Long-term debt	$ 256			750
Interest rate (as a percent)	4.875%	4.875%	4.875%		4.875%
Senior Notes 1.50%, euro denominated, due March 2027
Long-term debt
Long-term debt	$ 594			607
Interest rate (as a percent)	1.50%				1.50%
6.875% due March 2028
Long-term debt
Long-term debt	$ 750			750
Interest rate (as a percent)	6.875%				6.875%
Senior Notes 6.00% due June 2029
Long-term debt
Long-term debt	$ 1,000			1,000
Interest rate (as a percent)	6%				6%
Senior Notes 2.875% due August 2030
Long-term debt
Long-term debt	$ 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	$ 850			850
Interest rate (as a percent)	3.125%				3.125%
Term A Loan Due June 2027
Long-term debt
Long-term debt	$ 625			$ 1,325
Variable interest rate (as a percent)	6.68%

Debt - Activity (Details)

Debt - Activity (Details) - USD ($) $ in Millions		3 Months Ended
Debt - Activity (Details) - USD ($) $ in Millions	Mar. 14, 2024	Mar. 31, 2024	Mar. 31, 2023	Feb. 14, 2024	Dec. 31, 2023
Long-term debt
Repayments of Long-term Debt		$ 3,277	$ 1
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		$ 937			$ 13
Senior Notes 5.25% due July 2025
Long-term debt
Face amount of debt	$ 1,000			$ 1,000
Interest rate (as a percent)	5.25%	5.25%	5.25%	5.25%
Principal Amount	$ 811
Senior Notes 4.875% due March 2026
Long-term debt
Face amount of debt	$ 750			$ 750
Interest rate (as a percent)	4.875%	4.875%	4.875%	4.875%
Principal Amount	$ 494
Senior Notes 0.875%, euro denominated, due March 2024
Long-term debt
Interest rate (as a percent)		0.875%	0.875%
Repayments of Long-term Debt		$ 817
Short term committed revolving credit facilities
Long-term debt
Available borrowing capacity under line of credit facility					$ 196
Amount of credit facility outstanding and due on demand		278
Term A Loan Due June 2027
Long-term debt
Repayments of Long-term Debt		$ 700
Senior Notes 6.00% due June 2029
Long-term debt
Interest rate (as a percent)		6%	6%

Debt - FV, Maturities, etc. (De

Debt - FV, Maturities, etc. (Details) $ in Millions	3 Months Ended
Debt - FV, Maturities, etc. (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Long term debt value
Leverage ratio, maximum	5
Leverage ratio, subsequent period	4.5
Level 2
Long term debt value
Fair value of the long-term debt	$ 5,220	$ 8,070

Taxes on Income (Details)

Taxes on Income (Details)	3 Months Ended
Taxes on Income (Details)	Mar. 31, 2024	Mar. 31, 2023
Effective income tax changes by percentage
Effective tax rate expressed as a percentage of pre-tax earnings	26.70%	21.40%
Effective income tax rate reduction for expense in share based compensation	(0.70%)	(1.10%)
Effective income tax rate, reduction in foreign rate differences	2.40%
Effective Income Tax Rate Reconciliation, GILTI	1%	0.90%
Effective Income Tax Rate Reconciliation, Pillar Two Global Minimum Tax, Percent	1%
Effective Income Tax Rate Reconciliation, Permanent Differences	1.70%	0.70%

Employee Benefit Obligations -

Employee Benefit Obligations - Components, Amounts recognized in BS (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Liability
Underfunded defined benefit pension liabilities	$ 299	$ 323
Less: Current portion	(20)	(21)
Long-term defined benefit pension liabilities	279	302
Long-term retiree medical liabilities	84	90
Deferred compensation plans	217	280
Other	65	63
Total employee benefit obligations	$ 645	$ 735

Employee Benefit Obligations _2

Employee Benefit Obligations - Components of net periodic benefit cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 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
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
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
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
Defined Benefit Pension Plans
Ball-sponsored plans:
Service cost	$ 5	$ 5
Interest cost	35	37
Expected return on plan assets	(42)	(46)
Amortization of prior service cost	1	1
Recognized net actuarial loss (gain)	5	1
Total net periodic benefit cost	4	(2)
United States \| Defined Benefit Pension Plans
Ball-sponsored plans:
Service cost	4	4
Interest cost	15	16
Expected return on plan assets	(22)	(22)
Recognized net actuarial loss (gain)	1	1
Total net periodic benefit cost	(2)	(1)
Non-U.S. \| Defined Benefit Pension Plans
Ball-sponsored plans:
Service cost	1	1
Interest cost	20	21
Expected return on plan assets	(20)	(24)
Amortization of prior service cost	1	1
Recognized net actuarial loss (gain)	4
Total net periodic benefit cost	$ 6	$ (1)

Employee Benefit Obligations _3

Employee Benefit Obligations - Narratives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Contributions to pension plans	$ 10	$ 4
Expected contributions to pension plans for the full year			$ 33
Selling, general and administrative
Defined Benefit Plan Disclosure [Line Items]
Non-service pension income	$ 1	$ 7

Equity and Accumulated Other _3

Equity and Accumulated Other Comprehensive Earnings (Loss) - Equity Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 3,837	$ 3,527
Balance at beginning of period (in shares)	367,551,366
Net earnings (loss)	$ 3,686	180
Other comprehensive earnings (loss), net of tax	23	42
Common dividends, net of tax benefits	(63)	(63)
Treasury stock purchases	(196)	(3)
Treasury shares re-issued	7	8
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	40	8
Other activity	43	9
Balance at end of the period	$ 7,377	3,708
Balance at end of period (in shares)	370,544,422
Common Stock
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 1,312	$ 1,260
Balance at beginning of period (in shares)	683,241,000	682,144,000
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	$ 40	$ 8
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged (in shares)	319,000	272,000
Balance at end of the period	$ 1,352	$ 1,268
Balance at end of the period (in shares)	683,560,000	682,416,000
Treasury Stock
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ (4,390)	$ (4,429)
Balance at beginning of period (in shares)	(367,551,000)	(368,036,000)
Treasury stock purchases	$ (196)	$ (3)
Treasury stock purchases (in shares)	(3,065,000)	(39,000)
Treasury shares re-issued	$ 7	$ 8
Treasury shares re-issued (in shares)	72,000	146,000
Other activity	$ 42	$ 10
Balance at end of the period	$ (4,537)	$ (4,414)
Balance at end of period (in shares)	(370,544,000)	(367,929,000)
Retained Earnings
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	$ 7,763	$ 7,309
Net earnings (loss)	3,685	177
Common dividends, net of tax benefits	(63)	(63)
Other activity	1	(1)
Balance at end of the period	11,386	7,422
Accumulated Other Comprehensive Earnings (Loss).
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	(916)	(679)
Other comprehensive earnings (loss), net of tax	23
Other comprehensive earnings (loss), net of tax		42
Balance at end of the period	(893)	(637)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity
Balance at beginning of the period	68	66
Net earnings (loss)	1	3
Balance at end of the period	$ 69	$ 69

Equity and Accumulated Other _4

Equity and Accumulated Other Comprehensive Earnings (Loss) - AOCI Activity (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Accumulated Other Comprehensive Earnings (Loss)
Balance at beginning of the period	$ 3,837
Balance at end of the period	7,377
Currency Translation (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Balance at beginning of the period	(380)
Other comprehensive earnings (loss) before reclassifications	(87)
Balance at end of the period	(467)
Pension and Other Postretirement Benefits (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Balance at beginning of the period	(537)
Other comprehensive earnings (loss) before reclassifications	8
Amounts reclassified into earnings	3
Aerospace disposal	94
Balance at end of the period	(432)
Derivatives Designated as Hedges (Net of Tax)
Accumulated Other Comprehensive Earnings (Loss)
Balance at beginning of the period	1
Other comprehensive earnings (loss) before reclassifications	31
Amounts reclassified into earnings	(26)
Balance at end of the period	6
Accumulated Other Comprehensive Earnings (Loss).
Accumulated Other Comprehensive Earnings (Loss)
Balance at beginning of the period	(916)
Other comprehensive earnings (loss) before reclassifications	(48)
Amounts reclassified into earnings	(23)
Aerospace disposal	94
Balance at end of the period	$ (893)

Equity and Accumulated Other _5

Equity and Accumulated Other Comprehensive Earnings (Loss) - AOCI Additional Details (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2004	Mar. 31, 2003
Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	$ 2,874	$ 2,981	$ 2,981
Business consolidation and other activities	(26)	(20)		$ 26	$ 20
Earnings before taxes	101	154
Tax benefit (expense) on amounts reclassified into earnings	(27)	(33)
Net earnings	3,686	180
Derivatives Designated as Hedges (Net of Tax) \| Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Gains (losses) on cash flow hedges:
Earnings before taxes	34	(16)
Tax benefit (expense) on amounts reclassified into earnings	(8)	4
Net earnings	26	(12)
Derivatives Designated as Hedges (Net of Tax) \| Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) \| Commodity
Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	13	(13)
Commodity contracts recorded in cost of sales	(14)
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 rate contracts recorded in interest expense	3
Derivatives Designated as Hedges (Net of Tax) \| Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss) \| Foreign currency contracts
Gains (losses) on cash flow hedges:
Currency exchange contracts recorded in selling, general and administrative	32	(3)
Accumulated Defined Benefit Plans Adjustment, Effect Of Disposal Of Discontinued Operations [Member] \| Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	(127)
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	(131)	(2)
Tax benefit (expense) on amounts reclassified into earnings	34	1
Recognized gain (loss), net of tax	(97)	(1)
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)
Actuarial gains (losses) \| Amount Reclassified from Accumulated Other Comprehensive Earnings (Loss)
Amortization Of Pension And Other Postretirement Benefits:
Total before tax effect	$ (3)	$ (1)

Equity and Accumulated Other _6

Equity and Accumulated Other Comprehensive Earnings (Loss) - Narratives (Details) $ in Millions	Apr. 24, 2024 USD ($)
Equity and Accumulated Other Comprehensive Earnings (Loss)
Share repurchase agreement amount	$ 40

Earnings and Dividends Per Sh_3

Earnings and Dividends Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings per share
Earnings from continuing operations attributable to Ball Corporation, net of tax	$ 78	$ 125
Discontinued operations, net of tax	3,607	52
Net earnings attributable to Ball Corporation	$ 3,685	$ 177
Basic weighted average common shares	314,950	314,236
Effect of dilutive securities (in shares)	2,435	2,431
Weighted average shares applicable to diluted earnings (loss) per share	317,385	316,667
Basic - continuing operations (in dollars per share)	$ 0.25	$ 0.40
Basic - discontinued operations (in dollars per share)	11.45	0.16
Per basic share (in dollars per share)	11.70	0.56
Diluted - continuing operations (in dollars per share)	0.25	0.40
Diluted - discontinued operations (in dollars per share)	11.36	0.16
Per diluted share (in dollars per share)	11.61	0.56
Dividends declared and paid
Dividends paid (in dollars per share)	$ 0.20	$ 0.20
Stock option and SSARs
Options excluded from EPS calculation
Number of outstanding options excluded from computation of diluted earnings per share	5,000	4,000

Financial Instruments and Ris_3

Financial Instruments and Risk Management - General (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024 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	$ 1,104
Net gain (loss) included in AOCI, after-tax	(2)
Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months	$ (2)
Commodity \| Cash Flow Hedging
Financial Instruments and Risk Management
Longest duration of forecasted cash flow hedge transactions in years	2 years
Currency
Financial Instruments and Risk Management
Notional amount of contracts	$ 4,552
Net gain (loss) included in AOCI, after-tax	(3)
Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months	$ 9
Currency \| Cash Flow Hedging
Financial Instruments and Risk Management
Longest duration of forecasted cash flow hedge transactions in years	2 years
Interest Rate
Financial Instruments and Risk Management
Notional amount of contracts	$ 600
Net gain (loss) included in AOCI, after-tax	11
Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months	$ 11
Interest Rate \| Cash Flow Hedging
Financial Instruments and Risk Management
Longest duration of forecasted cash flow hedge transactions in years	3 years
Equity contracts
Financial Instruments and Risk Management
Combined notional value (in shares) \| shares	1.5
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	Mar. 31, 2024	Dec. 31, 2023
Fair Value Measurements
Total current derivative contracts, assets	$ 123	$ 109
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Total noncurrent derivative contracts, assets	$ 12	$ 1
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Total current derivative contracts, liabilities	$ 36	$ 52
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Total noncurrent derivative contracts, liabilities	$ 2	$ 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	$ 16	$ 20
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Total noncurrent derivative contracts, assets	$ 1
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent
Total current derivative contracts, liabilities	$ 15	$ 19
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	$ 85	$ 78
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Total noncurrent derivative contracts, assets	$ 11	$ 1
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Total current derivative contracts, liabilities	$ 18	$ 30
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
Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	$ 22	$ 11
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Total current derivative contracts, liabilities	$ 3	$ 3
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Derivatives Designated As Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	$ 110	$ 94
Total noncurrent derivative contracts, assets	12	1
Total current derivative contracts, liabilities	18	22
Total noncurrent derivative contracts, liabilities	1	1
Derivatives Designated As Hedging Instruments \| Commodity
Fair Value Measurements
Total current derivative contracts, assets	16	20
Total noncurrent derivative contracts, assets	1
Total current derivative contracts, liabilities	15	19
Total noncurrent derivative contracts, liabilities	1
Derivatives Designated As Hedging Instruments \| Currency
Fair Value Measurements
Total current derivative contracts, assets	76	65
Total noncurrent derivative contracts, assets	11	1
Total noncurrent derivative contracts, liabilities		1
Derivatives Designated As Hedging Instruments \| Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	18	9
Total current derivative contracts, liabilities	3	3
Derivatives Not Designated as Hedging Instruments
Fair Value Measurements
Total current derivative contracts, assets	13	15
Total current derivative contracts, liabilities	18	30
Total noncurrent derivative contracts, liabilities	1
Derivatives Not Designated as Hedging Instruments \| Currency
Fair Value Measurements
Total current derivative contracts, assets	9	13
Total current derivative contracts, liabilities	18	30
Total noncurrent derivative contracts, liabilities	1
Derivatives Not Designated as Hedging Instruments \| Cross-currency and other contracts
Fair Value Measurements
Total current derivative contracts, assets	$ 4	$ 2

Financial Instruments and Ris_5

Financial Instruments and Risk Management - Impact on Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	$ 34	$ (16)
Gain (Loss) on Derivatives not Designated as Hedge Instruments	44	(5)
Amounts reclassified into earnings:
Commodity contracts	1	13
Interest rate contracts	(3)
Currency exchange contracts	(32)	3
Change in fair value of cash flow hedges:
Changes in accumulated other comprehensive earnings (loss) for effective derivatives	5	21
Commodity
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)		$ (13)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Revenue from Contract with Customer, Including Assessed Tax
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	1	$ 14
Commodity \| Net sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	13
Commodity \| Cost of sales
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	(14)
Gain (Loss) on Derivatives not Designated as Hedge Instruments	3	$ (7)
Interest rate contracts
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	$ 3
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Debt	Interest Expense, Debt
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	$ 12
Interest rate contracts \| Interest expense
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments		$ (5)
Currency
Impact on Earnings from Derivative Instruments
Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)	$ 32	$ (3)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	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	$ 27	$ (1)
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
Equity contracts \| Selling, general and administrative
Impact on Earnings from Derivative Instruments
Gain (Loss) on Derivatives not Designated as Hedge Instruments	$ 14	$ 8
Currency exchange contracts
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	29	(1)
Foreign currency and tax impacts
Change in fair value of cash flow hedges:
Gain (Loss) on Derivative	$ (3)	$ (8)

Contingencies (Details)

Contingencies (Details) $ in Millions	Mar. 31, 2024 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
Insider Trading Arrangements	Mar. 31, 2024
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