
.	Condensed Combining Financial Information

Crown European Holdings SA (Issuer), a wholly owned subsidiary of the Company, has €500 ($642 at September 30, 2012) principal amount of 7.125% senior notes due 2018 outstanding that are fully and unconditionally guaranteed by Crown Holdings, Inc. (Parent) and certain subsidiaries. The guarantors are wholly owned by the Company and the guarantees are made on a joint and several basis. The guarantor column includes financial information for all subsidiaries in the United States (except for an insurance subsidiary and a receivable securitization subsidiary), substantially all subsidiaries in Belgium, Canada, France, Germany, Mexico, Switzerland and the United Kingdom, and a subsidiary in the Netherlands. The following condensed combining financial statements:

•statements of comprehensive income for the three and nine months ended September 30, 2012 and 2011,

•balance sheets as of September 30, 2012 and December 31, 2011, and

•statements of cash flows for the nine months ended September 30, 2012 and 2011

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

During the second quarter of 2012, the Company revised its presentation of the condensed combining balance sheet at December 31, 2011 to reclassify a consolidation entry to net certain value added tax receivables and payables from non-guarantor subsidiaries to guarantor subsidiaries. The impact was a $226 decrease to both receivables and accounts payable and accrued liabilities of guarantor subsidiaries with a corresponding increase to non-guarantor subsidiaries. The Company deemed the revision to be immaterial for the previously issued financial statements and therefore, revised the condensed combining balance sheet included in this filing.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2012

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,223		$	1,079					$	2,302
Cost of products sold, excluding depreciation and amortization						987			900						1,887
Depreciation and amortization						20			26						46
Gross profit						216			153						369
Selling and administrative expense			—			73			19						92
Provision for restructuring			—			5			2						7
Asset impairments and sales	—		—			—			(14		)				(14		)
Net interest expense			$	10		34			11						55
Technology royalty			—			(11		)	11						—
Translation and foreign exchange			—			(1		)	(1		)				(2		)
Income/(loss) before income taxes			(10		)	116			125						231
Provision for / (benefit from) income taxes			15			(140		)	14						(111		)
Equity earnings / (loss) in affiliates	$	325	85			69			—			$	(477	)	2
Net income	325		60			325			111			(477		)	344
Net income attributable to noncontrolling interests									(19		)				(19		)
Net income attributable to Crown Holdings	$	325	$	60		$	325		$	92		$	(477	)	$	325

Comprehensive income	$	396	$	108		$	396		$	156		$	(634	)	$	422
Comprehensive income attributable to noncontrolling interests									(26		)				(26		)
Comprehensive income attributable to Crown Holdings	$	396	$	108		$	396		$	130		$	(634	)	$	396

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2011

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,326		$	1,097					$	2,423
Cost of products sold, excluding depreciation and amortization						1,077			903						1,980
Depreciation and amortization						21			26						47
Gross profit			—			228			168						396
Selling and administrative expense			$	(1	)	73			24						96
Provision for restructuring						2									2
Asset impairments and sales						(2		)				$	—		(2		)
Net interest expense			20			24			12						56
Technology royalty						(10		)	10						—
Translation and foreign exchange	—		—			(1		)	—			—			(1		)
Income/(loss) before income taxes			(19		)	142			122			—			245
Provision for / (benefit from) income taxes	—		—			60			27			—			87
Equity earnings / (loss) in affiliates	$	129	100			47			—			$	(275	)	1
Net income	129		81			129			95			(275		)	159
Net income attributable to noncontrolling interests	—		—			—			(30		)	—			(30		)
Net income attributable to Crown Holdings	$	129	$	81		$	129		$	65		$	(275	)	$	129

Comprehensive income	$	12	$	(57	)	$	12		$	(62	)	$	130		$	35
Comprehensive income attributable to noncontrolling interests	—		—			—			(23		)	—			(23		)
Comprehensive income attributable to Crown Holdings	$	12	$	(57	)	$	12		$	(85	)	$	130		$	12

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the nine months ended September 30, 2012 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	3,500		$	2,933					$	6,433
Cost of products sold, excluding depreciation and amortization						2,870			2,434						5,304
Depreciation and amortization						58			75						133
Gross profit						572			424						996
Selling and administrative expense			$	(1	)	223			66						288
Provision for restructuring						7			3						10
Asset impairments and sales						(1		)	(23		)				(24		)
Net interest expense			38			97			30						165
Technology royalty						(30		)	30						—
Translation and foreign exchange						(1		)	(3		)				(4		)
Income/(loss) before income taxes			(37		)	277			321						561
Provision for / (benefit from) income taxes			15			(86		)	43						(28		)
Equity earnings / (loss) in affiliates	$	528	199			165						$	(890	)	2
Net income	528		147			528			278			(890		)	591
Net income attributable to noncontrolling interests									(63		)				(63		)
Net income attributable to Crown Holdings	$	528	$	147		$	528		$	215		$	(890	)	$	528

Comprehensive income	$	633	$	212		$	633		$	315		$	(1,092	)	$	701
Comprehensive income attributable to noncontrolling interests									(68		)				(68		)
Comprehensive income attributable to Crown Holdings	$	633	$	212		$	633		$	247		$	(1,092	)	$	633

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the nine months ended September 30, 2011 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	3,675		$	2,911					$	6,586
Cost of products sold, excluding depreciation and amortization			$	(1	)	3,018			2,378						5,395
Depreciation and amortization						61			71						132
Gross profit			1			596			462						1,059
Selling and administrative expense			(2		)	230			70						298
Provision for restructuring						27						—			27
Asset impairments and sales			—			(184		)				$	182		(2		)
Loss from early extinguishment of debt			2			30			—						32
Net interest expense			59			79			28						166
Technology royalty						(25		)	25						—
Translation and foreign exchange			—			(1		)	1			—			—
Income/(loss) before income taxes			(58		)	440			338			(182		)	538
Provision for / (benefit from) income taxes	—		1			99			82			—			182
Equity earnings / (loss) in affiliates	$	274	239			(67		)	—			(445		)	1
Net income	274		180			274			256			(627		)	357
Net income attributable to noncontrolling interests	—		—			—			(83		)	—			(83		)
Net income attributable to Crown Holdings	$	274	$	180		$	274		$	173		$	(627	)	$	274

Comprehensive income	$	232	$	100		$	232		$	200		$	(451	)	$	313
Comprehensive income attributable to noncontrolling interests									(81		)				(81		)
Comprehensive income attributable to Crown Holdings	$	232	$	100		$	232		$	119		$	(451	)	$	232

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2012

(in millions)



	Parent			Issuer		Guarantors			Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	54		$	186				$	240
Receivables, net						409			988					1,397
Intercompany receivables				$	2	68			32		$	(102	)
Inventories						641			566					1,207
Prepaid expenses and other current assets	$	1		6		133			69					209
Total current assets	1			8		1,305			1,841		(102		)	3,053

Intercompany debt receivables				1,818		3,983			482		(6,283		)
Investments	848			3,221		(406		)			(3,663		)
Goodwill						1,420			556					1,976
Property, plant and equipment, net						592			1,253					1,845
Other non-current assets				25		627			84					736
Total	$	849		$	5,072	$	7,521		$	4,216	$	(10,048	)	$	7,610

Liabilities and equity
Current liabilities
Short-term debt				$	13	$	8		$	276				$	297
Current maturities of long-term debt				18		28			58					104
Accounts payable and accrued liabilities	$	17		9		1,087			862					1,975
Intercompany payables				—		32			70		$	(102	)
Total current liabilities	17			40		1,155			1,266		(102		)	2,376

Long-term debt, excluding current maturities				977		2,449			170					3,596
Long-term intercompany debt	857			2,721		1,863			842		(6,283		)
Postretirement and pension liabilities						899			18					917
Other non-current liabilities				14		307			173					494
Commitments and contingent liabilities
Noncontrolling interests						—			252					252
Crown Holdings shareholders’ equity/(deficit)	(25		)	1,320		848			1,495		(3,663		)	(25		)
Total equity/(deficit)	(25		)	1,320		848			1,747		(3,663		)	227
Total	$	849		$	5,072	$	7,521		$	4,216	$	(10,048	)	$	7,610

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2011

(in millions)



	Parent			Issuer		Guarantors			Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	54		$	288				$	342
Receivables, net						230			718					948
Intercompany receivables				$	2	60			23		$	(85	)	—
Inventories						615			533					1,148
Prepaid expenses and other current assets				7		129			29					165
Total current assets	—			9		1,088			1,591		(85		)	2,603

Intercompany debt receivables				1,590		3,514			327		(5,431		)	—
Investments	$	215		3,007		(577		)			(2,645		)	—
Goodwill						1,396			556					1,952
Property, plant and equipment, net						604			1,147					1,751
Other non-current assets				13		491			58					562
Total	$	215		$	4,619	$	6,516		$	3,679	$	(8,161	)	$	6,868

Liabilities and equity
Current liabilities
Short-term debt				$	6	$	14		$	108				$	128
Current maturities of long-term debt						1			66					67
Accounts payable and accrued liabilities	$	20		20		1,124			926					2,090
Intercompany payables				1		22			62		$	(85	)	—
Total current liabilities	20			27		1,161			1,162		(85		)	2,285

Long-term debt, excluding current maturities				1,002		2,173			162					3,337
Long-term intercompany debt	668			2,481		1,664			618		(5,431		)	—
Postretirement and pension liabilities						986			10					996
Other non-current liabilities						321			168					489
Commitments and contingent liabilities
Noncontrolling interests						(4		)	238					234
Crown Holdings shareholders’ equity/(deficit)	(473		)	1,109		215			1,321		(2,645		)	(473		)
Total equity/(deficit)	(473		)	1,109		211			1,559		(2,645		)	(239		)
Total	$	215		$	4,619	$	6,516		$	3,679	$	(8,161	)	$	6,868

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2012

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	11		$	(47	)	$	(21	)	$	(60	)				$	(117	)
Cash flows from investing activities
Capital expenditures							(43		)	(171		)				(214		)
Intercompany investing activities				35			71						$	(106	)	—
Insurance proceeds										33						33
Proceeds from sale of property, plant and equipment							3									3
Other, net										(27		)				(27		)
Net cash provided by/(used for) investing activities	—			35			31			(165		)	(106		)	(205		)
Cash flows from financing activities
Proceeds from long-term debt										49						49
Payments of long-term debt							—			(45		)				(45		)
Net change in revolving credit facility and short-term debt				7			294			169						470
Net change in long-term intercompany balances	189			(3		)	(256		)	70						—
Common stock issued	7															7
Common stock repurchased	(207		)													(207		)
Dividends paid							(34		)	(72		)	106
Dividends paid to noncontrolling interests										(50		)				(50		)
Other				8			(14		)	—						(6		)
Net cash provided by/(used for) financing activities	(11		)	12			(10		)	121			106			218
Effect of exchange rate changes on cash and cash equivalents										2						2
Net change in cash and cash equivalents	—			—			—			(102		)	—			(102		)
Cash and cash equivalents at January 1							54			288						342
Cash and cash equivalents at September 30	$	—		$	—		$	54		$	186		$	—		$	240

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2011

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	5		$	(38	)	$	(72	)	$	(29	)				$	(134	)
Cash flows from investing activities
Capital expenditures							(62		)	(211		)				(273		)
Proceeds from sale of property, plant and equipment							25									25
Intercompany investing activities				6			247			(180		)	$	(73	)	—
Other							—									—
Net cash provided by/(used for) investing activities				6			210			(391		)	(73		)	(248		)
Cash flows from financing activities
Proceeds from long-term debt				385			900			136						1,421
Payments of long-term debt				(277		)	(747		)	(23		)				(1,047		)
Net change in revolving credit facility and short-term debt				53			246			43						342
Net change in long-term intercompany balances	198			(129		)	(503		)	434						—
Debt issue costs				(3		)	(14		)							(17		)
Common stock issued	9															9
Common stock repurchased	(212		)													(212		)
Dividends paid										(73		)	73			—
Purchase of noncontrolling interests							(37		)	(11		)				(48		)
Dividends paid to noncontrolling interests										(60		)				(60		)
Other				3			8			—						11
Net cash provided by/(used for) financing activities	(5		)	32			(147		)	446			73			399
Effect of exchange rate changes on cash and cash equivalents										(1		)				(1		)
Net change in cash and cash equivalents	—			—			(9		)	25			—			16
Cash and cash equivalents at January 1				—			65			398						463
Cash and cash equivalents at September 30	$	—		$	—		$	56		$	423		$	—		$	479

Crown Cork & Seal Company, Inc. (Issuer), a wholly owned subsidiary, has $350 principal amount of 7.375% senior notes due 2026 and $64 principal amount of 7.5% senior notes due 2096 outstanding that are fully and unconditionally guaranteed by Crown Holdings, Inc. (Parent). No other subsidiary guarantees the debt. The following condensed combining financial statements:

•statements of comprehensive income for the three and nine months ended September 30, 2012 and 2011,

•balance sheets as of September 30, 2012 and December 31, 2011, and

•statements of cash flows for the nine months ended September 30, 2012 and 2011

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2012

(in millions)



	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,302					$	2,302
Cost of products sold, excluding depreciation and amortization						1,887						1,887
Depreciation and amortization						46						46
Gross profit						369						369
Selling and administrative expense	—		$	2		90						92
Provision for restructuring	—					7						7
Asset impairments and sales	—					(14		)				(14		)
Net interest expense			23			32						55
Translation and foreign exchange						(2		)				(2		)
Income/(loss) before income taxes			(25		)	256			—			231
Provision for / (benefit from) income taxes			(96		)	(15		)				(111		)
Equity earnings / (loss) in affiliates	$	325	254			2			$	(579	)	2
Net income	325		325			273			(579		)	344
Net income attributable to noncontrolling interests						(19		)				(19		)
Net income attributable to Crown Holdings	$	325	$	325		$	254		$	(579	)	$	325

Comprehensive income	$	396	$	396		$	351		$	(721	)	$	422
Comprehensive income attributable to noncontrolling interests						(26		)				(26		)
Comprehensive income attributable to Crown Holdings	$	396	$	396		$	325		$	(721	)	$	396

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2011

(in millions)



	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,423					$	2,423
Cost of products sold, excluding depreciation and amortization						1,980						1,980
Depreciation and amortization						47						47
Gross profit						396						396
Selling and administrative expense			$	3		93						96
Provision for restructuring						2						2
Asset impairments and sales						(2		)				(2		)
Net interest expense			21			35						56
Translation and foreign exchange						(1		)				(1		)
Income/(loss) before income taxes			(24		)	269						245
Provision for / (benefit from) income taxes			11			76						87
Equity earnings / (loss) in affiliates	$	129	164			1			$	(293	)	1
Net income	129		129			194			(293		)	159
Net income attributable to noncontrolling interests						(30		)				(30		)
Net income attributable to Crown Holdings	$	129	$	129		$	164		$	(293	)	$	129

Comprehensive income	$	12	$	12		$	70		$	(59	)	$	35
Comprehensive income attributable to noncontrolling interests						(23		)				(23		)
Comprehensive income attributable to Crown Holdings	$	12	$	12		$	47		$	(59	)	$	12

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the nine months ended September 30, 2012 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,433					$	6,433
Cost of products sold, excluding depreciation and amortization						5,304						5,304
Depreciation and amortization						133						133
Gross profit	—		—			996			—			996
Selling and administrative expense			$	7		281						288
Provision for restructuring						10						10
Asset impairments and sales						(24		)				(24		)
Net interest expense			68			97						165
Translation and foreign exchange						(4		)				(4		)
Income/(loss) before income taxes			(75		)	636						561
Provision for / (benefit from) income taxes			(103		)	75						(28		)
Equity earnings / (loss) in affiliates	$	528	500			2			$	(1,028	)	2
Net income	528		528			563			(1,028		)	591
Net income attributable to noncontrolling interests						(63		)				(63		)
Net income attributable to Crown Holdings	$	528	$	528		$	500		$	(1,028	)	$	528

Comprehensive income	$	633	$	633		$	673		$	(1,238	)	$	701
Comprehensive income attributable to noncontrolling interests						(68		)				(68		)
Comprehensive income attributable to Crown Holdings	$	633	$	633		$	605		$	(1,238	)	$	633

CONDENSED CO\MBINING STATEMENT OF COMPREHENSIVE INCOME For the nine months ended September 30, 2011 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net Sales						$	6,586					$	6,586
Cost of products sold, excluding depreciation and amortization						5,395						5,395
Depreciation and amortization						132						132
Gross profit						1,059						1,059
Selling and administrative expense			$	8		290						298
Provision for restructuring						27						27
Asset impairments and sales						(2		)				(2		)
Loss from early extinguishment of debt			—			32						32
Net interest expense			63			103						166
Translation and foreign exchange			—			—						—
Income/(loss) before income taxes			(71		)	609						538
Provision for / (benefit from) income taxes	—		6			176			—			182
Equity earnings / (loss) in affiliates	$	274	351			1			$	(625	)	1
Net income	274		274			434			(625		)	357
Net income attributable to noncontrolling interests	—		—			(83		)	—			(83		)
Net income attributable to Crown Holdings	$	274	$	274		$	351		$	(625	)	$	274

Comprehensive income	$	232	$	232		$	390		$	(541	)	$	313
Comprehensive income attributable to noncontrolling interests						(81		)				(81		)
Comprehensive income attributable to Crown Holdings	$	232	$	232		$	309		$	(541	)	$	232

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2012

(in millions)



	Parent			Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	240				$	240
Receivables, net						1,397					1,397
Inventories						1,207					1,207
Prepaid expenses and other current assets	$	1		$	76	132					209
Total current assets	1			76		2,976					3,053

Intercompany debt receivables						1,680		$	(1,680	)
Investments	848			1,753				(2,601		)
Goodwill						1,976					1,976
Property, plant and equipment, net						1,845					1,845
Other non-current assets				551		185					736
Total	$	849		$	2,380	$	8,662	$	(4,281	)	$	7,610

Liabilities and equity
Current liabilities
Short-term debt						$	297				$	297
Current maturities of long-term debt						104					104
Accounts payable and accrued liabilities	$	17		$	36	1,922					1,975
Total current liabilities	17			36		2,323					2,376

Long-term debt, excluding current maturities				411		3,185					3,596
Long-term intercompany debt	857			823				$	(1,680	)
Postretirement and pension liabilities	—					917					917
Other non-current liabilities	—			262		232					494
Commitments and contingent liabilities
Noncontrolling interests						252					252
Crown Holdings shareholders’ equity/(deficit)	(25		)	848		1,753		(2,601		)	(25		)
Total equity/(deficit)	(25		)	848		2,005		(2,601		)	227
Total	$	849		$	2,380	$	8,662	$	(4,281	)	$	7,610

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2011

(in millions)



	Parent			Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	342				$	342
Receivables, net						948					948
Inventories						1,148					1,148
Prepaid expenses and other current assets				$	76	89					165
Total current assets	—			76		2,527					2,603

Intercompany debt receivables						1,391		$	(1,391	)
Investments	$	215		1,208				(1,423		)
Goodwill						1,952					1,952
Property, plant and equipment, net						1,751					1,751
Other non-current assets				376		186					562
Total	$	215		$	1,660	$	7,807	$	(2,814	)	$	6,868

Liabilities and equity
Current liabilities
Short-term debt						$	128				$	128
Current maturities of long-term debt						67					67
Accounts payable and accrued liabilities	$	20		$	40	2,030					2,090
Total current liabilities	20			40		2,225					2,285

Long-term debt, excluding current maturities				411		2,926					3,337
Long-term intercompany debt	668			723				$	(1,391	)
Postretirement and pension liabilities						996					996
Other non-current liabilities				271		218					489
Commitments and contingent liabilities
Noncontrolling interests						234					234
Crown Holdings shareholders’ equity/(deficit)	(473		)	215		1,208		(1,423		)	(473		)
Total equity/(deficit)	(473		)	215		1,442		(1,423		)	(239		)
Total	$	215		$	1,660	$	7,807	$	(2,814	)	$	6,868

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2012

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provide by/(used for) operating activities	$	11		$	(157	)	$	29					$	(117	)
Cash flows from investing activities
Capital expenditures							(214		)				(214		)
Intercompany investing activities				57			—			$	(57	)	—
Insurance proceeds							33						33
Proceeds from sale of property, plant and equipment							3						3
Other							(27		)				(27		)
Net cash provided by/(used for) investing activities	—			57			(205		)	(57		)	(205		)
Cash flows from financing activities
Proceeds from long-term debt							49						49
Payments of long-term debt							(45		)				(45		)
Net change in revolving credit facility and short-term debt							470						470
Net change in long-term intercompany balances	189			100			(289		)				—
Common stock issued	7						—						7
Common stock repurchased	(207		)				—						(207		)
Dividends paid							(57		)	57
Dividend paid to noncontrolling interests							(50		)				(50		)
Other							(6		)				(6		)
Net cash provided by/(used for) financing activities	(11		)	100			72			57			218
Effect of exchange rate changes on cash and cash equivalents							2						2
Net change in cash and cash equivalents	—			—			(102		)	—			(102		)
Cash and cash equivalents at January 1	—			—			342			—			342
Cash and cash equivalents at September 30	$	—		$	—		$	240		$	—		$	240

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2011

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	5		$	(54	)	$	(85	)				$	(134	)
Cash flows from investing activities
Capital expenditures							(273		)				(273		)
Intercompany investing activities				36						$	(36	)	—
Proceeds from sale of property, plant and equipment							25						25
Net cash provided by/(used for) investing activities				36			(248		)	(36		)	(248		)
Cash flows from financing activities
Proceeds from long-term debt							1,421						1,421
Payments of long-term debt							(1,047		)				(1,047		)
Net change in revolving credit facility and short-term debt							342						342
Net change in long-term intercompany balances	198			55			(253		)				—
Debt issue costs							(17		)				(17		)
Common stock issued	9			—			—						9
Common stock repurchased	(212		)										(212		)
Dividends paid							(36		)	36			—
Purchase of noncontrolling interests	—			(37		)	(11		)				(48		)
Dividend paid to noncontrolling interests							(60		)				(60		)
Other							11						11
Net cash provided by/(used for) financing activities	(5		)	18			350			36			399
Effect of exchange rate changes on cash and cash equivalents							(1		)				(1		)
Net change in cash and cash equivalents	—			—			16			—			16
Cash and cash equivalents at January 1							463						463
Cash and cash equivalents at September 30	$	—		$	—		$	479		$	—		$	479

Crown Americas, LLC, Crown Americas Capital Corp. II and Crown Americas Capital Corp. III (collectively, the Issuers), wholly owned subsidiaries of the Company, have outstanding $400 principal amount of 7.625% senior notes due 2017 and $700 principal amount of 6.25% senior notes due 2021, all of which are fully and unconditionally guaranteed by Crown Holdings, Inc. (Parent) and substantially all subsidiaries in the United States. The guarantors are wholly owned by the Company and the guarantees are made on a joint and several basis. The following condensed combining financial statements:


•	statements of comprehensive income for the three and nine months ended September 30, 2012 and 2011,


•	balance sheets as of September 30, 2012 and December 31, 2011, and


•	statements of cash flows for the nine months ended September 30, 2012 and 2011

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2012

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	606		$	1,696					$	2,302
Cost of products sold, excluding depreciation and amortization			$	1		479			1,407						1,887
Depreciation and amortization						10			36						46
Gross profit						117			253						369
Selling and administrative expense			2			31			59						92
Provision for restructuring						1			6						7
Asset impairments and sales						—			(14		)				(14		)
Net interest expense			13			22			20						55
Technology royalty						(13		)	13
Translation and foreign exchange									(2		)				(2		)
Income/(loss) before income taxes			(15		)	76			171						231
Provision for / (benefit from) income taxes			(6		)	(139		)	34						(111		)
Equity earnings / (loss) in affiliates	$	325	196			110						$	(629	)	2
Net income	325		187			325			137			(629		)	344
Net income attributable to noncontrolling interests									(19		)				(19		)
Net income attributable to Crown Holdings	$	325	$	187		$	325		$	118		$	(629	)	$	325

Comprehensive income	$	396	$	187		$	396		$	203		$	(760	)	$	422
Comprehensive income attributable to noncontrolling interests									(26		)				(26		)
Comprehensive income attributable to Crown Holdings	$	396	$	187		$	396		$	177		$	(760	)	$	396

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2011

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	634		$	1,789					$	2,423
Cost of products sold, excluding depreciation and amortization						505			1,475						1,980
Depreciation and amortization						10			37						47
Gross profit						119			277						396
Selling and administrative expense			$	2		33			61						96
Provision for asbestos						—			—						—
Provision for restructuring									2						2
Asset impairments and sales			—			—			(2		)				(2		)
Loss from early extinguishment of debt						—			—						—
Net interest expense			10			22			24						56
Technology royalty			—			(16		)	16
Translation and foreign exchange			—			—			(1		)				(1		)
Income/(loss) before income taxes			(12		)	80			177						245
Provision for / (benefit from) income taxes	—		(5		)	60			32			—			87
Equity earnings / (loss) in affiliates	$	129	69			109			—			$	(306	)	1
Net income	129		62			129			145			(306		)	159
Net income attributable to noncontrolling interests						—			(30		)				(30		)
Net income attributable to Crown Holdings	$	129	$	62		$	129		$	115		$	(306	)	$	129

Comprehensive income	$	12	$	64		$	12		$	78		$	(131	)	$	35
Comprehensive income attributable to noncontrolling interests	—		—			—			(23		)	—			(23		)
Comprehensive income attributable to Crown Holdings	$	12	$	64		$	12		$	55		$	(131	)	$	12

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the nine months ended September 30, 2012 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,746		$	4,687					$	6,433
Cost of products sold, excluding depreciation and amortization			$	1		1,392			3,911						5,304
Depreciation and amortization						30			103						133
Gross profit						324			673						996
Selling and administrative expense			5			102			181						288
Provision for restructuring						2			8						10
Asset impairments and sales						(1		)	(23		)				(24		)
Net interest expense			39			67			59						165
Technology royalty						(33		)	33
Translation and foreign exchange									(4		)				(4		)
Income/(loss) before income taxes			(44		)	187			419						561
Provision for / (benefit from) income taxes			(17		)	(84		)	73						(28		)
Equity earnings / (loss) in affiliates	$	528	312			257						$	(1,095	)	2
Net income	528		285			528			346			(1,095		)	591
Net income attributable to noncontrolling interests									(63		)				(63		)
Net income attributable to Crown Holdings	$	528	$	285		$	528		$	283		$	(1,095	)	$	528

Comprehensive income	$	633	$	292		$	633		$	437		$	(1,294	)	$	701
Comprehensive income attributable to noncontrolling interests									(68		)				(68		)
Comprehensive income attributable to Crown Holdings	$	633	$	292		$	633		$	369		$	(1,294	)	$	633

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the nine months ended September 30, 2011 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,770		$	4,816					$	6,586
Cost of products sold, excluding depreciation and amortization						1,431			3,964						5,395
Depreciation and amortization						29			103						132
Gross profit						310			749						1,059
Selling and administrative expense			$	5		103			190						298
Provision for restructuring									27						27
Asset impairments and sales			—			—			(2		)				(2		)
Loss from early extinguishment of debt			30			2			—						32
Net interest expense			36			62			68						166
Technology royalty						(39		)	39
Translation and foreign exchange			—			—			—						—
Income/(loss) before income taxes			(71		)	182			427						538
Provision for / (benefit from) income taxes	—		(27		)	104			105			—			182
Equity earnings / (loss) in affiliates	$	274	185			196			—			$	(654	)	1
Net income	274		141			274			322			(654		)	357
Net income attributable to noncontrolling interests	—		—			—			(83		)				(83		)
Net income attributable to Crown Holdings	$	274	$	141		$	274		$	239		$	(654	)	$	274

Comprehensive income	$	232	$	153		$	232		$	274		$	(578	)	$	313
Comprehensive income attributable to noncontrolling interests									(81		)				(81		)
Comprehensive income attributable to Crown Holdings	$	232	$	153		$	232		$	193		$	(578	)	$	232

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2012

(in millions)



	Parent			Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents				$	18	$	1	$	221				$	240
Receivables, net				1		11		1,385					1,397
Intercompany receivables						23		15		$	(38	)
Inventories						279		928					1,207
Prepaid expenses and other current assets	$	1		2		86		120					209
Total current assets	1			21		400		2,669		(38		)	3,053

Intercompany debt receivables				1,925		1,734		316		(3,975		)
Investments	848			1,697		911				(3,456		)
Goodwill						453		1,523					1,976
Property, plant and equipment, net				1		297		1,547					1,845
Other non-current assets				27		483		226					736
Total	$	849		$	3,671	$	4,278	$	6,281	$	(7,469	)	$	7,610

Liabilities and equity
Current liabilities
Short-term debt								$	297				$	297
Current maturities of long-term debt				$	28	—		76					104
Accounts payable and accrued liabilities	$	17		30		$	323	1,605					1,975
Intercompany payables						15		23		$	(38	)
Total current liabilities	17			58		338		2,001		(38		)	2,376

Long-term debt, excluding current maturities				1,991		412		1,193					3,596
Long-term intercompany debt	857			778		1,905		435		(3,975		)
Postretirement and pension liabilities						481		436					917
Other non-current liabilities						294		200					494
Commitments and contingent liabilities
Noncontrolling interests								252					252
Crown Holdings shareholders’ equity/(deficit)	(25		)	844		848		1,764		(3,456		)	(25		)
Total equity/(deficit)	(25		)	844		848		2,016		(3,456		)	227
Total	$	849		$	3,671	$	4,278	$	6,281	$	(7,469	)	$	7,610

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2011

(in millions)



	Parent			Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents				$	21	$	1	$	320				$	342
Receivables, net				1		37		910					948
Intercompany receivables						40		17		$	(57	)
Inventories						285		863					1,148
Prepaid expenses and other current assets				2		58		105					165
Total current assets	—			24		421		2,215		(57		)	2,603

Intercompany debt receivables				1,833		1,354		525		(3,712		)
Investments	$	215		1,386		632				(2,233		)
Goodwill						453		1,499					1,952
Property, plant and equipment, net				1		298		1,452					1,751
Other non-current assets				30		382		150					562
Total	$	215		$	3,274	$	3,540	$	5,841	$	(6,002	)	$	6,868

Liabilities and equity
Current liabilities
Short-term debt								$	128				$	128
Current maturities of long-term debt						$	1	66					67
Accounts payable and accrued liabilities	$	20		$	34	323		1,713					2,090
Intercompany payables						17		40		$	(57	)
Total current liabilities	20			34		341		1,947		(57		)	2,285

Long-term debt, excluding current maturities				1,732		412		1,193					3,337
Long-term intercompany debt	668			956		1,726		362		(3,712		)
Postretirement and pension liabilities						550		446					996
Other non-current liabilities						296		193					489
Commitments and contingent liabilities
Noncontrolling interests								234					234
Crown Holdings shareholders’ equity/(deficit)	(473		)	552		215		1,466		(2,233		)	(473		)
Total equity/(deficit)	(473		)	552		215		1,700		(2,233		)	(239		)
Total	$	215		$	3,274	$	3,540	$	5,841	$	(6,002	)	$	6,868

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2012

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	11		$	(28	)	$	164		$	(264	)				$	(117	)
Cash flows from investing activities
Capital expenditures							(21		)	(193		)				(214		)
Intercompany investing activities				10			57						$	(67	)
Insurance proceeds										33						33
Proceeds from sale of property, plant and equipment							1			2						3
Other										(27		)				(27		)
Net cash provided by/(used for) investing activities				10			37			(185		)	(67		)	(205		)
Cash flows from financing activities
Proceeds from long-term debt										49						49
Payments of long-term debt										(45		)				(45		)
Net change in revolving credit facility and short-term debt				287						183						470
Net change in long-term intercompany balances	189			(272		)	(201		)	284
Common stock issued	7															7
Common stock repurchased	(207		)													(207		)
Dividends paid										(67		)	67
Dividends paid to noncontrolling interests										(50		)				(50		)
Other										(6		)				(6		)
Net cash provided by/(used for) financing activities	(11		)	15			(201		)	348			67			218
Effect of exchange rate changes on cash and cash equivalents										2						2
Net change in cash and cash equivalents	—			(3		)	—			(99		)	—			(102		)
Cash and cash equivalents at January 1				21			1			320						342
Cash and cash equivalents at September 30	$	—		$	18		$	1		$	221		$	—		$	240

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2011

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	5		$	(25	)	$	139		$	(253	)				$	(134	)
Cash flows from investing activities
Capital expenditures							(27		)	(246		)				(273		)
Proceeds from sale of property, plant and equipment										25						25
Intercompany investing activities				11			38			24			$	(73	)	—
Other							—			—						—
Net cash provided by/(used for) investing activities	—			11			11			(197		)	(73		)	(248		)
Cash flows from financing activities
Proceeds from long-term debt				900						521						1,421
Payments of long-term debt				(746		)	(1		)	(300		)				(1,047		)
Net change in revolving credit facility and short-term debt				140						202						342
Net change in long-term intercompany balances	198			(273		)	(112		)	187
Debt issue costs				(14		)				(3		)				(17		)
Common stock issued	9															9
Common stock repurchased	(212		)							—			—			(212		)
Dividends paid							—			(73		)	73
Purchase of noncontrolling interests							(37		)	(11		)				(48		)
Dividends paid to noncontrolling interests										(60		)				(60		)
Other	—			—			—			11			—			11
Net cash provided by/(used for) financing activities	(5		)	7			(150		)	474			73			399
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(1		)	—			(1		)
Net change in cash and cash equivalents	—			(7		)	—			23			—			16
Cash and cash equivalents at January 1	—			38			1			424			—			463
Cash and cash equivalents at September 30	$	—		$	31		$	1		$	447		$	—		$	479