Ball
27 named things its latest annual report says its results depend on, each in the company's own words. 16 of them are also named by other companies we've read.
Customers
Major beverage, personal care and household product companies
concentrated in · a majority of our packaging productsnamed as a riskWe sell a majority of our packaging products to a relatively limited number of major beverage, personal care and household product companies, some of which operate in multiple geographical markets we serve.Risk factors (Item 1A)
Suppliers
Aluminum can and end sheet suppliers (South America)
depends on · two global suppliersIn South America, two global suppliers provide virtually all our aluminum can and end sheet requirements with certain requirements also being imported from Asia.Business (Item 1)
Aluminum can and end sheet suppliers (EMEA)
depends on · Six global aluminum suppliersSix global aluminum suppliers provide almost all of our aluminum can and end sheet requirements.Business (Item 1)
Other companies
Collective bargaining agreements
20 percent of our North American employees and 33 percent of our European employeesnamed as a riskAs of December 31, 2025, 20 percent of our North American employees and 33 percent of our European employees were covered by collective bargaining agreements.Risk factors (Item 1A)
Also named by APG, CAG, CARR, HLT, HSY, IEX, KR, NI and 10 more
Ball United Arab Can Manufacturing Company
10 percent ownership interestOn August 27, 2025, the company sold 41 percent of its 51 percent ownership interest in Ball United Arab Can Manufacturing Company, which resulted in Ball deconsolidating the business and retaining a 10 percent ownership interest.Business (Item 1)
Florida Can Manufacturing
In the first quarter of 2025, Ball acquired Florida Can Manufacturing, which consisted of one manufacturing facility in Winter Haven, Florida, see Note 4 for details.Business (Item 1)
Alucan Entec, S.A.
Included within the PHC facility count are facilities in Lummen, Belgium and Llinars del Vallés, Spain that the company acquired in late-October 2024 through the acquisition of the entire share capital of Alucan Entec, S.A.Business (Item 1)
Competitors
Glass bottles
competes withnamed as a riskIf demand for glass and PET bottles increases relative to aluminum containers, or the demand for aluminum containers does not develop as expected, our business, results of operations, cash flows and financial condition could be materially adversely affected.Risk factors (Item 1A)
PET plastic bottles
competes withnamed as a riskCompetition from plastic carbonated soft drink bottles is particularly intense in the U.S. and Europe, and there is competition from glass beer bottles in Brazil.Risk factors (Item 1A)
Places
Outside the United States
earns from · approximately 53 percent of our consolidated net salesnamed as a riskWe derived approximately 53 percent of our consolidated net sales from outside of the U.S. for the year ended December 31, 2025.Risk factors (Item 1A)
Also named by APD, ARW, CCK, COO, GGG, GIS, HPE, LITE and 10 more
United States
operates in · 17 manufacturing facilities in the U.S.Aluminum beverage containers and ends are produced at 17 manufacturing facilities in the U.S., one in Canada and two in Mexico.Business (Item 1)
Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BAM and 139 more
India
operates in · two in IndiaOur aluminum beverage packaging operations in the beverage packaging, other, segment consist of three facilities – two in India and one in Myanmar.Business (Item 1)
Also named by A, AAPL, ACN, AJG, AKAM, AMZN, AOS, AVGO and 54 more
Brazil
operates in · 9 in BrazilOur operations consist of 12 facilities—9 in Brazil and one each in Argentina, Chile and Paraguay.Business (Item 1)
Also named by ADM, ASO, AZO, CPAY, CPRT, CTVA, DE, DOV and 32 more
Europe, Middle East and Africa (EMEA)
earns from · 30 percent of Ball’s consolidated net sales in 2025The beverage packaging, EMEA, segment accounted for 30 percent of Ball’s consolidated net sales in 2025.Business (Item 1)
South America
earns from · 16 percent of Ball’s consolidated net sales in 2025The beverage packaging, South America, segment accounted for 16 percent of Ball’s consolidated net sales in 2025.Business (Item 1)
North and Central America
earns from · 48 percent of consolidated net sales in 2025Beverage packaging, North and Central America, is Ball’s largest segment, accounting for 48 percent of consolidated net sales in 2025.Business (Item 1)
Argentina
exposed to its pricenamed as a riskThe company presents its financial statements in U.S. dollars and has a significant proportion of its net assets, debt and income in non-U.S. dollar currencies, primarily the euro, as well as the currencies of Argentina, Egypt, Turkey and other emerging markets.Risk factors (Item 1A)
Also named by C, ECL, FISV, GMED, INGR, JNJ, KMB, MDLZ and 6 more
Turkey
operates innamed as a riskThe markets served by our beverage packaging, EMEA, segment, including Egypt and Turkey, are highly regional in terms of sales growth rates and packaging mix.Business (Item 1)
Hazards
Commodities and inputs
Aluminum
exposed to its price · $3 million after-tax reduction in net earningsnamed as a riskConsidering the effects of derivative instruments, the company’s ability to pass-through certain raw material costs through contractual provisions, the market’s ability to accept price increases and the company’s commodity price exposures under its contract terms, a hypothetical 10 percent adverse change in the company’s aluminum prices would result in an estimated $3 million after-tax reduction in net earnings over a one-year period.Market risk (Item 7A)
Also named by AAON, ACHR, ALSN, AYI, BA, BF/B, BWA, CAG and 59 more
Euro
exposed to its price · €1.05 billionnamed as a riskAs of December 31, 2025, the company had three fixed-for-fixed cross currency swaps outstanding, with notional amounts totaling €1.05 billion.Market risk (Item 7A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
London Metal Exchange aluminum
exposed to its pricenamed as a riskWhile all such materials and supplies are available from independent suppliers, they are subject to fluctuations in price and availability attributable to a number of factors, including general economic conditions, commodity price fluctuations (particularly aluminum on the London Metal Exchange), the demand by other industries for the same raw materials and the availability of complementary and substitute materials.Risk factors (Item 1A)
Regulators
U.S. Customs and Border Protection
subject tonamed as a riskFor example, in September 2025, we received notice from the U.S. Customs and Border Protection challenging the tariff classification and applicable rate of duty of certain aluminum imports asserting additional duties and tariffs are payable, as well our use of certain exemptions.Risk factors (Item 1A)
Also named by BJ, CHRW, CROX, EXPD, FDX, FDXF, JBHT, KLAC and 12 more
Laws and programs
OECD global minimum tax
subject tonamed as a riskAs a U.S.-based multinational business, the company is subject to income tax in the U.S. and numerous jurisdictions outside the U.S., as well as recent OECD, European Commission and other trans-national initiatives that seek to impose minimum tax thresholds on most multi-national companies.Risk factors (Item 1A)
Also named by AAPL, APP, ARW, AXP, BAC, CB, CBRE, CROX and 15 more
Container deposit legislation
subject tonamed as a riskWe anticipate that continuing efforts will be made to consider and adopt such legislation in the future.Risk factors (Item 1A)
Pension Protection Act
subject tonamed as a riskMarket declines, longevity increases or legislative changes, such as the Pension Protection Act in the U.S., could result in a prospective decrease in our available cash flow and net earnings over time, and the recognition of an increase in our pension obligations could result in a reduction to our shareholders’ equity.Risk factors (Item 1A)