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Cover and table of contents

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Cover and table of contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

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FORM 10-K

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☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

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For the fiscal year ended December 31, 2019

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☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

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For the transition period from to

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Commission File Number 001-07349

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Ball Corp****oration

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State of Indiana​35-0160610
(State or other jurisdiction of​(I.R.S. Employer
incorporation or organization)​Identification No.)

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10 Longs Peak Drive, P.O. Box 5000​​
Broomfield**,** Colorado​80021-2510
(Address of registrant’s principal executive office)​(Zip Code)

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Registrant’s telephone number, including area code: (303) 469-3131

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class​Trading Symbol​Name of each exchange on which registered
Common Stock, without par value​BLL​New York Stock Exchange

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Securities registered pursuant to Section 12(g) of the Act: NONE

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Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ⌧ NO ◻

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Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES ◻ NO ⌧

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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ⌧ NO ◻

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Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. YES ☒ NO ◻

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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Large accelerated filer ⌧​Accelerated filer ◻​Non-accelerated filer ◻​Smaller reporting company ☐
Emerging growth company ☐​​​​​​

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YES ☐ NO ☒

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The aggregate market value of voting stock held by non-affiliates of the registrant was $23.2 billion based upon the closing market price and common shares outstanding as of June 30, 2019.

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Number of shares and rights outstanding as of the latest practicable date.

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Class​Outstanding at February 17, 2020
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Common Stock, without par value​325,773,210 shares
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DOCUMENTS INCORPORATED BY REFERENCE

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1.Proxy statement to be filed with the Commission within 120 days after December 31, 2019, to the extent indicated in Part III.

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Ball Corporation

ANNUAL REPORT ON FORM 10-K

For the year ended December 31, 2019

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TABLE OF CONTENTS

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​​Page Number
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PART I.​​
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Item 1.Business1
Item 1A.Risk Factors7
Item 1B.Unresolved Staff Comments15
Item 2.Properties16
Item 3.Legal Proceedings17
Item 4.Mine Safety Disclosures17
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PART II.​​
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Item 5.Market for the Registrant’s Common Stock and Related Stockholder Matters17
Item 6.Selected Financial Data20
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations22
​Forward-Looking Statements31
Item 7A.Quantitative and Qualitative Disclosures About Market Risk32
Item 8.Financial Statements and Supplementary Data34
​Report of Independent Registered Public Accounting Firm34
​Consolidated Statements of Earnings for the Years Ended December 31, 2019, 2018 and 201737
​Consolidated Statements of Comprehensive Earnings (Loss) for the Years Ended December 31, 2019, 2018 and 201738
​Consolidated Balance Sheets at December 31, 2019, and December 31, 201839
​Consolidated Statements of Cash Flows for the Years Ended December 31, 2019, 2018 and 201740
​Consolidated Statements of Shareholders’ Equity for the Years Ended December 31, 2019, 2018 and 201741
​Notes to the Consolidated Financial Statements42
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure106
Item 9A.Controls and Procedures106
Item 9B.Other Information106
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PART III.​​
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Item 10.Directors, Executive Officers and Corporate Governance of the Registrant107
Item 11.Executive Compensation107
Item 12.Security Ownership of Certain Beneficial Owners and Management108
Item 13.Certain Relationships and Related Transactions108
Item 14.Principal Accountant Fees and Services108
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PART IV.​​
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Item 15.Exhibits, Financial Statement Schedules109
Item 16.Form 10-K Summary113
​Signatures114

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PART I**.**

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Next: Item 1. Business