Exhibit 20


Subsidiary Guarantees of Debt

The company’s Senior Notes, Senior Subordinated Notes and senior credit facilities are guaranteed on a full, unconditional and joint and several basis by certain of the company’s wholly owned domestic subsidiaries. The following is unaudited condensed, consolidating financial information for the company, segregating the guarantor subsidiaries and non-guarantor subsidiaries, as of October 1, 2006, and December 31, 2005, and for the three and nine months ended October 1, 2006, and October 2, 2005. Separate financial statements for the guarantor subsidiaries and the non-guarantor subsidiaries are not presented because management has determined that such financial statements would not be material to investors.

Page 1 of 7

 
   
CONSOLIDATED BALANCE SHEET
 
   
October 1, 2006
 
($ in millions)
 
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
   
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
ASSETS
                               
Current assets
                               
Cash and cash equivalents
 
$
7.4
 
$
3.5
 
$
48.2
 
$
 
$
59.1
 
Receivables, net
   
(0.7
)
 
249.0
   
519.9
   
-
   
768.2
 
Inventories, net
   
-
   
543.1
   
225.3
   
-
   
768.4
 
Deferred taxes, prepaids and other current assets
   
517.8
   
37.1
   
36.3
   
(492.5
)
 
98.7
 
Total current assets
   
524.5
   
832.7
   
829.7
   
(492.5
)
 
1,694.4
 
                                 
Property, plant and equipment, at cost
   
46.0
   
2,440.9
   
1,140.0
   
-
   
3,626.9
 
Accumulated depreciation
   
(18.4
)
 
(1,342.9
)
 
(444.0
)
 
-
   
(1,805.3
)
     
27.6
   
1,098.0
   
696.0
   
-
   
1,821.6
 
                                 
Investments in subsidiaries
   
2,179.1
   
641.9
   
88.4
   
(2,909.4
)
 
-
 
Investments in affiliates
   
1.4
   
23.1
   
49.0
   
-
   
73.5
 
Goodwill
   
-
   
739.4
   
985.4
   
-
   
1,724.8
 
Intangibles and other assets, net
   
102.0
   
162.1
   
150.3
   
-
   
414.4
 
Total Assets
 
$
2,834.6
 
$
3,497.2
 
$
2,798.8
 
$
(3,401.9
)
$
5,728.7
 
                                 
LIABILITIES AND SHAREHOLDERS’ EQUITY
                               
Current liabilities
                               
Short-term debt and current portion of long-term debt
 
$
30.0
 
$
11.3
 
$
95.6
 
$
 
$
136.9
 
Accounts payable
   
52.9
   
377.1
   
228.9
   
-
   
658.9
 
Accrued employee costs
   
16.9
   
153.4
   
28.8
   
-
   
199.1
 
Income taxes payable
   
   
506.4
   
93.8
   
(492.4
)
 
107.8
 
Other current liabilities
   
25.8
   
85.8
   
54.7
   
   
166.3
 
Total current liabilities
   
125.6
   
1,134.0
   
501.8
   
(492.4
)
 
1,269.0
 
                                 
Long-term debt
   
1,591.4
   
14.2
   
806.1
   
-
   
2,411.7
 
Intercompany borrowings
   
(291.9
)
 
773.9
   
216.9
   
(698.9
)
 
-
 
Employee benefit obligations
   
180.7
   
234.1
   
422.6
   
   
837.4
 
Deferred taxes and other liabilities
   
108.9
   
(107.8
)
 
84.7
   
-
   
85.8
 
Total liabilities
   
1,714.7
   
2,048.4
   
2,032.1
   
(1,191.3
)
 
4,603.9
 
                                 
Contingencies
                               
Minority interests
   
-
   
-
   
4.9
   
-
   
4.9
 
                                 
Shareholders’ equity:
                               
Convertible preferred stock
   
-
   
-
   
179.6
   
(179.6
)
 
-
 
Preferred shareholders’ equity
   
-
   
-
   
179.6
   
(179.6
)
 
-
 
                                 
Common stock
   
694.1
   
824.4
   
495.5
   
(1,319.9
)
 
694.1
 
Retained earnings (deficit)
   
1,475.6
   
794.1
   
23.5
   
(817.6
)
 
1,475.6
 
Accumulated other comprehensive earnings (loss)
   
(57.5
)
 
(169.7
)
 
63.2
   
106.5
   
(57.5
)
Treasury stock, at cost
   
(992.3
)
 
-
   
-
   
-
   
(992.3
)
Common shareholders’ equity
   
1,119.9
   
1,448.8
   
582.2
   
(2,031.0
)
 
1,119.9
 
Total shareholders’ equity
   
1,119.9
   
1,448.8
   
761.8
   
(2,210.6
)
 
1,119.9
 
Total Liabilities and Shareholders’ Equity
 
$
2,834.6
 
$
3,497.2
 
$
2,798.8
 
$
(3,401.9
)
$
5,728.7
 

Page 2 of 7



   
CONSOLIDATED BALANCE SHEET
 
   
December 31, 2005
 
($ in millions)
 
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
   
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
ASSETS
                               
Current assets
                               
Cash and cash equivalents
 
$
8.0
 
$
1.7
 
$
51.3
 
$
-
 
$
61.0
 
Receivables, net
   
0.8
   
166.0
   
209.8
   
-
   
376.6
 
Inventories, net
   
-
   
439.4
   
230.9
   
-
   
670.3
 
Deferred taxes and prepaid expenses
   
340.0
   
193.0
   
55.6
   
(470.7
)
 
117.9
 
Total current assets
   
348.8
   
800.1
   
547.6
   
(470.7
)
 
1,225.8
 
                                 
Property, plant and equipment, at cost
   
45.7
   
2,081.9
   
1,025.8
   
-
   
3,153.4
 
Accumulated depreciation
   
(17.0
)
 
(1,237.0
)
 
(342.8
)
 
-
   
(1,596.8
)
     
28.7
   
844.9
   
683.0
   
-
   
1,556.6
 
                                 
Investment in subsidiaries
   
1,988.6
   
453.8
   
88.4
   
(2,530.8
)
 
-
 
Investment in affiliates
   
1.4
   
17.0
   
47.0
   
-
   
65.4
 
Goodwill, net
   
-
   
340.8
   
917.8
   
-
   
1,258.6
 
Intangibles and other assets
   
118.3
   
62.3
   
56.4
   
-
   
237.0
 
   
$
2,485.8
 
$
2,518.9
 
$
2,340.2
 
$
(3,001.5
)
$
4,343.4
 
                                 
LIABILITIES AND SHAREHOLDERS’ EQUITY
                               
Current liabilities
                               
Short-term debt and current portion of long-term debt
 
$
29.1
 
$
3.3
 
$
84.0
 
$
-
 
$
116.4
 
Accounts payable
   
59.5
   
305.3
   
187.6
   
-
   
552.4
 
Accrued employee costs
   
15.8
   
154.7
   
27.9
   
-
   
198.4
 
Income taxes payable
   
-
   
507.1
   
91.1
   
(470.7
)
 
127.5
 
Other current liabilities
   
18.9
   
111.4
   
51.0
   
-
   
181.3
 
Total current liabilities
   
123.3
   
1,081.8
   
441.6
   
(470.7
)
 
1,176.0
 
                                 
Long-term debt
   
600.2
   
20.8
   
852.3
   
-
   
1,473.3
 
Intercompany borrowings
   
792.9
   
(110.0
)
 
16.0
   
(698.9
)
 
-
 
Employee benefit obligations
   
164.7
   
218.6
   
400.9
   
-
   
784.2
 
Deferred taxes and other liabilities
   
(30.6
)
 
45.1
   
55.0
   
-
   
69.5
 
Total liabilities
   
1,650.5
   
1,256.3
   
1,765.8
   
(1,169.6
)
 
3,503.0
 
                                 
Minority interests
   
-
   
-
   
5.1
   
-
   
5.1
 
Shareholders’ equity
                               
Convertible preferred stock
   
-
   
-
   
179.6
   
(179.6
)
 
-
 
Preferred shareholders’ equity
   
-
   
-
   
179.6
   
(179.6
)
 
-
 
                                 
Common stock
   
633.6
   
804.5
   
487.0
   
(1,291.5
)
 
633.6
 
Retained earnings
   
1,227.9
   
649.8
   
(119.1
)
 
(530.7
)
 
1,227.9
 
Accumulated other comprehensive earnings (loss)
   
(100.7
)
 
(191.7
)
 
21.8
   
169.9
   
(100.7
)
Treasury stock, at cost
   
(925.5
)
 
-
   
-
   
-
   
(925.5
)
Common shareholders’ equity
   
835.3
   
1,262.6
   
389.7
   
(1,652.3
)
 
835.3
 
Total shareholders’ equity
   
835.3
   
1,262.6
   
569.3
   
(1,831.9
)
 
835.3
 
   
$
2,485.8
 
$
2,518.9
 
$
2,340.2
 
$
(3,001.5
)
$
4,343.4
 

Page 3 of 7



   
CONSOLIDATED STATEMENT OF EARNINGS
 
   
For the Three Months Ended October 1, 2006
 
   
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
($ in millions)
 
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
Net sales
 
$
-
 
$
1,379.6
 
$
489.8
 
$
(47.1
)
$
1,822.3
 
Costs and expenses
                               
Cost of sales (excluding depreciation and amortization)
   
-
   
1,190.7
   
382.4
   
(47.1
)
 
1,526.0
 
Depreciation and amortization
   
0.9
   
40.7
   
22.9
   
-
   
64.5
 
Property insurance gain
   
-
   
-
   
(2.8
)
 
-
   
(2.8
)
Selling, general and administrative
   
3.4
   
47.9
   
15.2
   
-
   
66.5
 
Interest expense
   
6.1
   
16.2
   
14.9
   
-
   
37.2
 
Equity in results of subsidiaries
   
(94.5
)
 
-
   
-
   
94.5
   
-
 
Corporate allocations
   
(21.6
)
 
17.7
   
3.9
   
-
   
-
 
     
(105.7
)
 
1,313.2
   
436.5
   
47.4
   
1,691.4
 
Earnings (loss) before taxes
   
105.7
   
66.4
   
53.3
   
(94.5
)
 
130.9
 
Tax provision
   
(4.2
)
 
(11.7
)
 
(17.0
)
 
-
   
(32.9
)
Minority interests
   
-
   
-
   
(0.1
)
 
-
   
(0.1
)
Equity in results of affiliates
   
-
   
1.3
   
2.3
   
-
   
3.6
 
Net earnings (loss)
 
$
101.5
 
$
56.0
 
$
38.5
 
$
(94.5
)
$
101.5
 



   
CONSOLIDATED STATEMENT OF EARNINGS
 
   
For the Three Months Ended October 2, 2005
 
   
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
($ in millions)
 
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
Net sales
 
$
-
 
$
1,217.6
 
$
453.8
 
$
(87.5
)
$
1,583.9
 
Costs and expenses
                               
Cost of sales (excluding depreciation and amortization)
   
-
   
1,062.2
   
354.4
   
(87.5
)
 
1,329.1
 
Depreciation and amortization
   
0.8
   
32.5
   
21.1
   
-
   
54.4
 
Business consolidation costs
   
-
   
19.3
   
   
-
   
19.3
 
Selling, general and administrative
   
(4.1
)
 
39.9
   
16.8
   
-
   
52.6
 
Interest expense
   
8.5
   
9.1
   
8.1
   
-
   
25.7
 
Equity in results of subsidiaries
   
(68.9
)
 
-
   
-
   
68.9
   
-
 
Corporate allocations
   
(18.7
)
 
16.9
   
1.8
   
-
   
-
 
     
(82.4
)
 
1,179.9
   
402.2
   
(18.6
)
 
1,481.1
 
Earnings (loss) before taxes
   
82.4
   
37.7
   
51.6
   
(68.9
)
 
102.8
 
Tax provision
   
(3.1
)
 
(8.4
)
 
(15.1
)
 
-
   
(26.6
)
Minority interests
   
-
   
-
   
(0.2
)
 
-
   
(0.2
)
Equity in results of affiliates
   
-
   
1.2
   
2.1
   
-
   
3.3
 
Net earnings (loss)
 
$
79.3
 
$
30.5
 
$
38.4
 
$
(68.9
)
$
79.3
 



Page 4 of 7



   
CONSOLIDATED STATEMENT OF EARNINGS
 
   
For the Nine Months Ended October 1, 2006
 
   
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
($ in millions)
 
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
Net sales
 
$
-
 
$
3,835.2
 
$
1,335.2
 
$
(140.7
)
$
5,029.7
 
Costs and expenses
                               
Cost of sales (excluding depreciation and amortization)
   
-
   
3,329.8
   
1,043.2
   
(140.7
)
 
4,232.3
 
Depreciation and amortization
   
2.5
   
116.6
   
64.9
   
-
   
184.0
 
Property insurance gain
   
-
   
-
   
(76.9
)
 
-
   
(76.9
)
Business consolidation costs
   
-
   
-
   
1.7
   
-
   
1.7
 
Selling, general and administrative
   
45.5
   
109.3
   
55.5
   
-
   
210.3
 
Interest expense
   
21.3
   
38.3
   
38.5
   
-
   
98.1
 
Equity in results of subsidiaries
   
(287.0
)
 
-
   
-
   
287.0
   
-
 
Corporate allocations
   
(57.1
)
 
47.7
   
9.4
   
-
   
-
 
     
(274.8
)
 
3,641.7
   
1,136.3
   
146.3
   
4,649.5
 
Earnings (loss) before taxes
   
274.8
   
193.5
   
198.9
   
(287.0
)
 
380.2
 
Tax provision
   
4.0
   
(52.8
)
 
(63.8
)
 
-
   
(112.6
)
Minority interests
   
-
   
-
   
(0.5
)
 
-
   
(0.5
)
Equity in results of affiliates
   
-
   
3.7
   
8.0
   
-
   
11.7
 
Net earnings (loss)
 
$
278.8
 
$
144.4
 
$
142.6
 
$
(287.0
)
$
278.8
 



   
CONSOLIDATED STATEMENT OF EARNINGS
 
   
For the Nine Months Ended October 2, 2005
 
   
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
($ in millions)
 
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
Net sales
 
$
-
 
$
3,401.5
 
$
1,258.1
 
$
(199.6
)
$
4,460.0
 
Costs and expenses
                               
Cost of sales (excluding depreciation and amortization)
   
-
   
2,943.3
   
984.9
   
(199.6
)
 
3,728.6
 
Depreciation and amortization
   
2.3
   
97.5
   
61.0
   
-
   
160.8
 
Business consolidation costs
   
-
   
19.3
   
8.8
   
-
   
28.1
 
Selling, general and administrative
   
7.7
   
112.5
   
51.4
   
-
   
171.6
 
Interest expense
   
20.8
   
29.4
   
25.6
   
-
   
75.8
 
Equity in results of subsidiaries
   
(203.0
)
 
-
   
-
   
203.0
   
-
 
Corporate allocations
   
(51.5
)
 
46.2
   
5.3
   
-
   
-
 
     
(223.7
)
 
3,248.2
   
1,137.0
   
3.4
   
4,164.9
 
Earnings (loss) before taxes
   
223.7
   
153.3
   
121.1
   
(203.0
)
 
295.1
 
Tax provision
   
(6.8
)
 
(48.5
)
 
(34.0
)
 
-
   
(89.3
)
Minority interests
   
-
   
-
   
(0.7
)
 
-
   
(0.7
)
Equity in results of affiliates
   
-
   
2.6
   
9.2
   
-
   
11.8
 
Net earnings (loss)
 
$
216.9
 
$
107.4
 
$
95.6
 
$
(203.0
)
$
216.9
 



Page 5 of 7

 

   
CONSOLIDATED STATEMENT OF CASH FLOWS
 
   
For the Nine Months Ended October 1, 2006
 
   
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
($ in millions)
 
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
Cash flows from operating activities
                               
Net earnings (loss)
 
$
278.8
 
$
144.4
 
$
142.6
 
$
(287.0
)
$
278.8
 
Adjustments to reconcile net earnings to net cash provided by operating activities:
                               
Depreciation and amortization
   
2.5
   
116.6
   
64.9
   
-
   
184.0
 
Property insurance gain
   
   
   
(76.9
)
 
   
(76.9
)
Business consolidation costs
   
   
   
1.7
   
   
1.7
 
Deferred taxes
   
(3.1
)
 
4.7
   
24.5
   
-
   
26.1
 
Equity in results of subsidiaries
   
(287.0
)
 
   
   
287.0
   
 
Other, net
   
17.2
   
(35.0
)
 
(23.2
)
 
-
   
(41.0
)
Changes in working capital components, excluding effects of acquisitions
   
(23.4
)
 
(18.2
)
 
(215.0
)
 
-
   
(256.6
)
Net cash provided by (used in) operating activities
   
(15.0
)
 
212.5
   
(81.4
)
 
-
   
116.1
 
                                 
Cash flows from investing activities
                               
Additions to property, plant and equipment
   
(2.2
)
 
(143.3
)
 
(42.1
)
 
-
   
(187.6
)
Business acquisitions, net of cash acquired
   
   
(730.8
)
 
(55.6
)
 
   
(786.4
)
Property insurance proceeds
   
   
   
32.4
   
   
32.4
 
Investments in and advances to affiliates, net of dividends
   
(896.8
)
 
668.2
   
228.6
   
-
   
 
Other, net
   
(3.5
)
 
6.2
   
7.0
   
-
   
9.7
 
Net cash provided by (used in) investing activities
   
(902.5
)
 
(199.7
)
 
170.3
   
-
   
(931.9
)
                                 
Cash flows from financing activities
                               
Long-term borrowings
   
984.1
   
   
   
   
984.1
 
Repayments of long-term borrowings
   
   
(3.0
)
 
(97.9
)
 
-
   
(100.9
)
Change in short-term borrowings
   
2.3
   
-
   
4.7
   
-
   
7.0
 
Proceeds from issuance of common stock
   
27.9
   
-
   
-
   
-
   
27.9
 
Acquisitions of treasury stock
   
(72.6
)
 
   
-
   
-
   
(72.6
)
Common dividends
   
(30.7
)
 
   
   
   
(30.7
)
Other, net
   
5.9
   
(8.0
)
 
   
-
   
(2.1
)
Net cash provided by (used in) financing activities
   
916.9
   
(11.0
)
 
(93.2
)
 
-
   
812.7
 
                                 
Effect of exchange rate changes on cash
   
   
   
1.2
   
-
   
1.2
 
                                 
Net change in cash and cash equivalents
   
(0.6
)
 
1.8
   
(3.1
)
 
-
   
(1.9
)
Cash and cash equivalents - Beginning of period
   
8.0
   
1.7
   
51.3
   
-
   
61.0
 
Cash and cash equivalents - End of period
 
$
7.4
 
$
3.5
 
$
48.2
 
$
-
 
$
59.1
 

Page 6 of 7



   
CONSOLIDATED STATEMENT OF CASH FLOWS
 
   
For the Nine Months Ended October 2, 2005
 
   
Ball
 
Guarantor
 
Non-Guarantor
 
Eliminating
 
Consolidated
 
($ in millions)
 
Corporation
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Total
 
Cash flows from operating activities
                               
Net earnings (loss)
 
$
216.9
 
$
107.4
 
$
95.6
 
$
(203.0
)
$
216.9
 
Adjustments to reconcile net earnings to net cash provided by operating activities:
                               
Depreciation and amortization
   
2.3
   
97.5
   
61.0
   
-
   
160.8
 
Business consolidation costs
   
-
   
19.3
   
8.8
   
-
   
28.1
 
Deferred taxes
   
(7.5
)
 
(21.7
)
 
(29.9
)
 
-
   
(59.1
)
Equity in results of subsidiaries
   
(203.0
)
 
-
   
-
   
203.0
   
-
 
Other, net
   
11.1
   
(4.9
)
 
(3.2
)
 
-
   
3.0
 
Changes in other working capital components
   
(39.6
)
 
53.6
   
(78.9
)
 
-
   
(64.9
)
Net cash provided by (used in) operating activities
   
(19.8
)
 
251.2
   
53.4
   
-
   
284.8
 
                                 
Cash flows from investing activities
                               
Additions to property, plant and equipment
   
(4.2
)
 
(109.2
)
 
(80.8
)
 
-
   
(194.2
)
Investments in and advances to affiliates, net of dividends
   
108.6
   
(141.2
)
 
32.6
   
-
   
-
 
Other, net
   
(11.1
)
 
2.4
   
(0.5
)
 
-
   
(9.2
)
Net cash provided by (used in) investing activities
   
93.3
   
(248.0
)
 
(48.7
)
 
-
   
(203.4
)
                                 
Cash flows from financing activities
                               
Long-term borrowings
   
155.0
   
0.4
   
-
   
-
   
155.4
 
Repayments of long-term borrowings
   
(40.6
)
 
(3.0
)
 
(46.1
)
 
-
   
(89.7
)
Change in short-term borrowings
   
52.0
   
-
   
37.2
   
-
   
89.2
 
Proceeds from issuance of common stock
   
28.2
   
-
   
-
   
-
   
28.2
 
Acquisitions of treasury stock
   
(338.6
)
 
-
   
-
   
-
   
(338.6
)
Common dividends
   
(32.3
)
 
-
   
-
   
-
   
(32.3
)
Net cash used in financing activities
   
(176.3
)
 
(2.6
)
 
(8.9
)
 
-
   
(187.8
)
                                 
Effect of exchange rate changes on cash
   
-
   
-
   
(1.9
)
 
-
   
(1.9
)
                                 
Net change in cash and cash equivalents
   
(102.8
)
 
0.6
   
(6.1
)
 
-
   
(108.3
)
Cash and cash equivalents - Beginning of period
   
113.8
   
0.6
   
84.3
   
-
   
198.7
 
Cash and cash equivalents - End of period
 
$
11.0
 
$
1.2
 
$
78.2
 
$
-
 
$
90.4
 


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