BALL Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>BALL Corp submitted its quarterly 10-Q filing on May 7, 2024, detailing financial performance for the period ending March 31, 2024.</b>

AI Summary

BALL Corp (BALL) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. BALL Corp filed a 10-Q report on May 7, 2024, for the period ending March 31, 2024. The filing is for the company BALL Corp, with Central Index Key 0000009389. The company's standard industrial classification is METAL CANS [3411]. BALL Corp is incorporated in Indiana and has a fiscal year end of December 31. The filing was made under the 1934 Act with SEC file number 001-07349.

Why It Matters

For investors and stakeholders tracking BALL Corp, this filing contains several important signals. This filing provides investors and analysts with the latest financial data for BALL Corp, crucial for assessing the company's performance and making investment decisions. Understanding the details within this 10-Q is essential for tracking BALL Corp's financial health, operational status, and compliance with SEC regulations.

Risk Assessment

Risk Level: low — BALL Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or immediate risks beyond normal business operations.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand BALL Corp's current financial position and future outlook.

Key Numbers

• 20240331 — Period of Report (CONFORMED PERIOD OF REPORT)
• 20240507 — Filing Date (FILED AS OF DATE)
• 103 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 3411 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• BALL Corp (company) — FILER
• 0000009389 (company) — CENTRAL INDEX KEY
• 3411 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• IN (company) — STATE OF INCORPORATION
• 1231 (company) — FISCAL YEAR END
• 001-07349 (company) — SEC FILE NUMBER
• 3034695511 (company) — BUSINESS PHONE
• 20240507 (date) — FILED AS OF DATE

FAQ

Industry Context

BALL Corp operates in the metal can manufacturing industry, producing containers for beverages and food.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended March 31, 2024.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers and trends.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: End of Reporting Period — Marks the end of the fiscal quarter for which financial results are reported.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing for the period ending March 31, 2024. Comparative data from the previous quarter or year will be found within the document itself.

Filing Documents

• ball-20240331x10q.htm (10-Q) — 1980KB
• ball-20240331xex2d1.htm (EX-2.1) — 1162KB
• ball-20240331xex10d1.htm (EX-10.1) — 41KB
• ball-20240331xex22.htm (EX-22) — 22KB
• ball-20240331xex31d1.htm (EX-31.1) — 13KB
• ball-20240331xex31d2.htm (EX-31.2) — 12KB
• ball-20240331xex32d1.htm (EX-32.1) — 9KB
• ball-20240331xex32d2.htm (EX-32.2) — 9KB
• ball-20240331xex99.htm (EX-99) — 36KB
• 0001558370-24-006975.txt (&nbsp;) — 12401KB
• ball-20240331.xsd (EX-101.SCH) — 60KB
• ball-20240331_cal.xml (EX-101.CAL) — 80KB
• ball-20240331_def.xml (EX-101.DEF) — 240KB
• ball-20240331_lab.xml (EX-101.LAB) — 573KB
• ball-20240331_pre.xml (EX-101.PRE) — 425KB
• ball-20240331x10q_htm.xml (XML) — 2563KB

Financial Statements

Financial Statements 1 Unaudited Condensed Consolidated Statements of Earnings for the Three Months Ended March 31, 2024 and 2023 1 Unaudited Condensed Consolidated Statements of Comprehensive Earnings (Loss) for the Three Months Ended March 31, 2024 and 2023 2 Unaudited Condensed Consolidated Balance Sheets at March 31, 2024, and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 4 Notes to the Unaudited Condensed Consolidated Financial Statements Note 1. Basis of Presentation 5 Note 2. Accounting Pronouncements 6 Note 3. Business Segment Information 7 Note 4. Acquisitions and Dispositions 9 Note 5. Revenue from Contracts with Customers 11 Note 6. Business Consolidation and Other Activities 12 Note 7. Supplemental Cash and Cash Flow Statement Disclosures 12 Note 8. Receivables, Net 13 Note 9. Inventories, Net 13 Note 10. Property, Plant and Equipment, Net 14 Note 11. Goodwill 14 Note 12. Intangible Assets, Net 14 Note 13. Other Assets 14 Note 14. Leases 15 Note 15. Debt 15 Note 16. Taxes on Income 16 Note 17. Employee Benefit Obligations 16 Note 18. Equity and Accumulated Other Comprehensive Earnings (Loss) 18 Note 19. Earnings and Dividends Per Share 19 Note 20. Financial Instruments and Risk Management 20 Note 21. Contingencies 24 Note 22. Indemnifications and Guarantees 24 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION 35 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS BALL CORPORATION UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS Three Months Ended March 31, ($ in millions, except per share amounts) 2024 2023 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 ) ( 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 - continuing operations $ 0.25 $ 0.40 Basic - discontinued operations 11.45 0.16 Total basic earnings per share $ 11.70 $ 0.56 Diluted - continuing operations $ 0.25 $ 0.40 Diluted - discontinued operations 11.36 0.16 Total diluted earnings per share $ 11.61 $ 0.56 Weighted average shares outstanding: (000s) Basic 314,950 314,236 Diluted 317,385 316,667 See accompanying notes to the unaudited condensed consolidated financial statements. 1 Table of Contents BALL CORPORATION UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) Three Months Ended March 31, ($ in millions) 2024 2023 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 oth

View Full Filing

View this 10-Q filing on SEC EDGAR