Business Segment Information

3 Months Ended

Mar. 31, 2023

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 four reportable segments outlined below.

Beverage packaging, North and Central America: Consists of operations in the U.S., Canada and Mexico that manufacture and sell aluminum beverage containers throughout those countries.

Beverage packaging, EMEA: Consists of operations in numerous countries throughout Europe, as well as Egypt and Turkey, that manufacture and sell aluminum beverage containers throughout those countries. Ball sold its former operations located in Russia during the third quarter of 2022. See Note 4 for further details. Ball’s operations and results of its former Russian aluminum beverage packaging business are included in the results of the beverage packaging, EMEA, business through the date of the disposal in the third quarter of 2022.

Beverage packaging, South America: Consists of operations in Brazil, Argentina, Paraguay and Chile that manufacture and sell aluminum beverage containers throughout most of South America.

Aerospace: Consists of operations that manufacture and sell aerospace and other related products and provide services used in the defense, civil space and commercial space industries.

As presented in the table below, Other consists of a non-reportable operating segment (beverage packaging, other) that manufactures and sells aluminum beverage containers in India, Saudi Arabia and throughout the Asia Pacific region; a non-reportable operating segment that manufactures and sells extruded aluminum aerosol containers and recloseable aluminum bottles across multiple consumer categories as well as aluminum slugs (aerosol packaging) throughout North America, South America, Europe, and Asia; a non-reportable operating segment that manufactures and sells aluminum cups (aluminum cups); undistributed corporate expenses; and intercompany eliminations and other business activities.

The accounting policies of the segments are the same as those used in the consolidated financial statements, as discussed in Note 1. The company also has investments in operations in Guatemala, Panama, the U.S. and Vietnam that are accounted for under the equity method of accounting and, accordingly, those results are not included in segment sales or earnings. In the first quarter of 2022, Ball sold its remaining equity method investment in Ball Metalpack. Refer to Note 4 for additional details.

Summary of Business by Segment

	Three Months Ended March 31,
($ in millions)	2023		2022
Net sales
Beverage packaging, North and Central America	$	1,504	$	1,609
Beverage packaging, EMEA		834		942
Beverage packaging, South America		450		494
Aerospace		508		504
Reportable segment sales		3,296		3,549
Other		193		167
Net sales	$	3,489	$	3,716
Comparable operating earnings
Beverage packaging, North and Central America	$	183	$	174
Beverage packaging, EMEA		73		100
Beverage packaging, South America		50		78
Aerospace		60		43
Reportable segment comparable operating earnings		366		395
Reconciling items
Other (a)		15		(29)
Business consolidation and other activities		(20)		281
Amortization of acquired intangibles		(34)		(37)
Earnings before interest and taxes		327		610
Interest expense		(113)		(69)
Earnings before taxes	$	214	$	541

(a) Includes undistributed corporate expenses, net, of $10 million and $33 million for the three months ended March 31, 2023 and 2022, respectively.

The company does not disclose total assets by segment as such information is not provided to the chief operating decision maker.