
.	Condensed Combining Financial Information

Crown European Holdings SA (Issuer), a wholly owned subsidiary of the Company, has €500 ($659 at December 31, 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 and cash flows for the years ended December 31, 2012, 2011, 2010, and

•balance sheets as of December 31, 2012 and December 31, 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 year ended December 31, 2012 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	4,573		$	3,897					$	8,470
Cost of products sold, excluding depreciation and amortization			$	(1	)	3,771			3,243						7,013
Depreciation and amortization						79			101						180
Gross profit			1			723			553						1,277
Selling and administrative expense			(2		)	290			94						382
Provision for asbestos						35									35
Provision for restructuring						45			3						48
Asset impairments and sales			(977		)	(1		)	(41		)	977			(42		)
Net interest expense			57			121			41						219
Technology royalty						(31		)	31						—
Translation and foreign exchange						(1		)	—						(1		)
Income/(loss) before income taxes			923			265			425			(977		)	636
Provision for / (benefit from) income taxes			8			(81		)	56						(17		)
Equity earnings / (loss) in affiliates	$	557	240			211			1			$	(1,004	)	5
Net income	557		1,155			557			370			(1,981		)	658
Net income attributable to noncontrolling interests									(101		)				(101		)
Net income attributable to Crown Holdings	$	557	$	1,155		$	557		$	269		$	(1,981	)	$	557

Comprehensive income	$	533	$	1,200		$	533		$	421		$	(2,048	)	$	639
Comprehensive income attributable to noncontrolling interests									(106		)				(106		)
Comprehensive income attributable to Crown Holdings	$	533	$	1,200		$	533		$	315		$	(2,048	)	$	533

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2011 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	4,780		$	3,864					$	8,644
Cost of products sold, excluding depreciation and amortization			$	(1	)	3,934			3,187						7,120
Depreciation and amortization						82			94						176
Gross profit			1			764			583						1,348
Selling and administrative expense			(2		)	298			99						395
Provision for asbestos						28			—						28
Provision for restructuring						73			4			—			77
Asset impairments and sales			—			—			4			$	2		6
Loss from early extinguishment of debt			2			30			—						32
Net interest expense			78			104			39						221
Technology royalty						(46		)	46						—
Translation and foreign exchange			—			(3		)	5			—			2
Income/(loss) before income taxes			(77		)	280			386			(2		)	587
Provision for / (benefit from) income taxes	—		—			123			71			—			194
Equity earnings / (loss) in affiliates	$	282	239			125			—			(643		)	3
Net income	282		162			282			315			(645		)	396
Net income attributable to noncontrolling interests	—		—			—			(114		)	—			(114		)
Net income attributable to Crown Holdings	$	282	$	162		$	282		$	201		$	(645	)	$	282

Comprehensive income	$	19	$	3		$	19		$	219		$	(131	)	$	129
Comprehensive income attributable to noncontrolling interests									(110		)				(110		)
Comprehensive income attributable to Crown Holdings	$	19	$	3		$	19		$	109		$	(131	)	$	19

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2012

(in millions)



	Parent			Issuer		Guarantors			Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	134		$	216				$	350
Receivables, net						274			783					1,057
Intercompany receivables				$	2	41			32		$	(75	)
Inventories						582			584					1,166
Prepaid expenses and other current assets	$	1		14		123			39					177
Total current assets	1			16		1,154			1,654		(75		)	2,750

Intercompany debt receivables				1,578		3,141			492		(5,211		)
Investments	749			3,839		(278		)			(4,310		)
Goodwill						1,429			569					1,998
Property, plant and equipment, net						610			1,385					1,995
Other non-current assets				24		658			65					747
Total	$	750		$	5,457	$	6,714		$	4,165	$	(9,596	)	$	7,490

Liabilities and equity
Current liabilities
Short-term debt				$	2	—			$	259				$	261
Current maturities of long-term debt				18		$	28		69					115
Accounts payable and accrued liabilities	$	18		21		1,097			1,006					2,142
Intercompany payables				—		32			43		$	(75	)
Total current liabilities	18			41		1,157			1,377		(75		)	2,518

Long-term debt, excluding current maturities				1,003		2,073			213					3,289
Long-term intercompany debt	894			2,264		1,340			713		(5,211		)
Postretirement and pension liabilities						1,079			19					1,098
Other non-current liabilities				8		316			138					462
Commitments and contingent liabilities
Noncontrolling interests						—			285					285
Crown Holdings shareholders’ equity/(deficit)	(162		)	2,141		749			1,420		(4,310		)	(162		)
Total equity/(deficit)	(162		)	2,141		749			1,705		(4,310		)	123
Total	$	750		$	5,457	$	6,714		$	4,165	$	(9,596	)	$	7,490

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 year ended December 31, 2012

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	14		$	(66	)	$	301		$	372					$	621
Cash flows from investing activities
Capital expenditures							(77		)	(247		)				(324		)
Acquisition of businesses, net of cash acquired							(29		)	(49		)				(78		)
Intercompany investing activities				(741		)	293						$	448		—
Proceeds from sale of intercompany investment				1,205			(1,205		)							—
Insurance proceeds										48						48
Proceeds from sale of property, plant and equipment							3									3
Other, net										(11		)				(11		)
Net cash provided by/(used for) investing activities	—			464			(1,015		)	(259		)	448			(362		)
Cash flows from financing activities
Proceeds from long-term debt										109						109
Payments of long-term debt							(1		)	(65		)				(66		)
Net change in revolving credit facility and short-term debt				(4		)	(103		)	136						29
Net change in long-term intercompany balances	226			(232		)	77			(71		)				—
Capital contribution							1,205			8			(1,213		)	—
Common stock issued	17															17
Common stock repurchased	(257		)													(257		)
Dividends paid				(170		)	(370		)	(225		)	765
Purchase of noncontrolling interests							(3		)	(1		)				(4		)
Dividends paid to noncontrolling interests										(79		)				(79		)
Other				8			(11		)	—						(3		)
Net cash provided by/(used for) financing activities	(14		)	(398		)	794			(188		)	(448		)	(254		)
Effect of exchange rate changes on cash and cash equivalents										3						3
Net change in cash and cash equivalents	—			—			80			(72		)	—			8
Cash and cash equivalents at January 1							54			288						342
Cash and cash equivalents at December 31	$	—		$	—		$	134		$	216		$	—		$	350

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2011

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	10		$	(12	)	$	(119	)	$	500					$	379
Cash flows from investing activities
Capital expenditures							(107		)	(294		)				(401		)
Proceeds from sale of property, plant and equipment							26									26
Intercompany investing activities				8			290			(180		)	$	(118	)	—
Other							3									3
Net cash provided by/(used for) investing activities				8			212			(474		)	(118		)	(372		)
Cash flows from financing activities
Proceeds from long-term debt				383			1,250			137						1,770
Payments of long-term debt				(276		)	(748		)	(45		)				(1,069		)
Net change in revolving credit facility and short-term debt				(48		)	(54		)	(90		)				(192		)
Net change in long-term intercompany balances	291			(38		)	(438		)	185						—
Debt issue costs				(3		)	(19		)							(22		)
Common stock issued	11															11
Common stock repurchased	(312		)													(312		)
Dividends paid										(118		)	118			—
Purchase of noncontrolling interests							(98		)	(104		)				(202		)
Dividends paid to noncontrolling interests										(104		)				(104		)
Other				(14		)	3			2						(9		)
Net cash provided by/(used for) financing activities	(10		)	4			(104		)	(137		)	118			(129		)
Effect of exchange rate changes on cash and cash equivalents										1						1
Net change in cash and cash equivalents	—			—			(11		)	(110		)	—			(121		)
Cash and cash equivalents at January 1				—			65			398						463
Cash and cash equivalents at December 31	$	—		$	—		$	54		$	288		$	—		$	342

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 and cash flows for the years ended December 31, 2012, 2011, 2010, and

•balance sheets as of December 31, 2012 and December 31, 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 year ended December 31, 2012 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	8,470					$	8,470
Cost of products sold, excluding depreciation and amortization						7,013						7,013
Depreciation and amortization						180						180
Gross profit	—		—			1,277			—			1,277
Selling and administrative expense			$	9		373						382
Provision for asbestos			35			—						35
Provision for restructuring						48						48
Asset impairments and sales						(42		)				(42		)
Net interest expense			90			129						219
Translation and foreign exchange						(1		)				(1		)
Income/(loss) before income taxes			(134		)	770						636
Provision for / (benefit from) income taxes			(36		)	19						(17		)
Equity earnings / (loss) in affiliates	$	557	655			—			$	(1,207	)	5
Net income	557		557			751			(1,207		)	658
Net income attributable to noncontrolling interests						(101		)				(101		)
Net income attributable to Crown Holdings	$	557	$	557		$	650		$	(1,207	)	$	557

Comprehensive income	$	533	$	533		$	732		$	(1,159	)	$	639
Comprehensive income attributable to noncontrolling interests						(106		)				(106		)
Comprehensive income attributable to Crown Holdings	$	533	$	533		$	626		$	(1,159	)	$	533

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2011 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net Sales						$	8,644					$	8,644
Cost of products sold, excluding depreciation and amortization						7,120						7,120
Depreciation and amortization						176						176
Gross profit						1,348						1,348
Selling and administrative expense			$	10		385						395
Provision for asbestos			28			—						28
Provision for restructuring						77						77
Asset impairments and sales						6						6
Loss from early extinguishment of debt			—			32						32
Net interest expense			83			138						221
Translation and foreign exchange			—			2						2
Income/(loss) before income taxes			(121		)	708						587
Provision for / (benefit from) income taxes	—		(7		)	201			—			194
Equity earnings / (loss) in affiliates	$	282	396			3			$	(678	)	3
Net income	282		282			510			(678		)	396
Net income attributable to noncontrolling interests	—		—			(114		)	—			(114		)
Net income attributable to Crown Holdings	$	282	$	282		$	396		$	(678	)	$	282

Comprehensive income	$	19	$	19		$	243		$	(152	)	$	129
Comprehensive income attributable to noncontrolling interests						(110		)				(110		)
Comprehensive income attributable to Crown Holdings	$	19	$	19		$	133		$	(152	)	$	19

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2010 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net Sales						$	7,941					$	7,941
Cost of products sold, excluding depreciation and amortization						6,519						6,519
Depreciation and amortization						172						172
Gross profit						1,250						1,250
Selling and administrative expense			$	(12	)	372						360
Provision for asbestos			46			—						46
Provision for restructuring						42						42
Asset impairments and sales						(18		)				(18		)
Loss from early extinguishment of debt			—			16						16
Net interest expense			81			113						194
Translation and foreign exchange			—			(4		)				(4		)
Income/(loss) before income taxes			(115		)	729						614
Provision for / (benefit from) income taxes	—		(17		)	182			—			165
Equity earnings / (loss) in affiliates	$	324	422			3			$	(746	)	3
Net income	324		324			550			(746		)	452
Net income attributable to noncontrolling interests	—		—			(128		)	—			(128		)
Net income attributable to Crown Holdings	$	324	$	324		$	422		$	(746	)	$	324

Comprehensive income	$	237	$	237		$	456		$	(572	)	$	358
Comprehensive income attributable to noncontrolling interests						(121		)				(121		)
Comprehensive income attributable to Crown Holdings	$	237	$	237		$	335		$	(572	)	$	237

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2012

(in millions)



	Parent			Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	350				$	350
Receivables, net						1,057					1,057
Inventories						1,166					1,166
Prepaid expenses and other current assets	$	1		$	83	93					177
Total current assets	1			83		2,666					2,750

Intercompany debt receivables						1,769		$	(1,769	)
Investments	749			1,768				(2,517		)
Goodwill						1,998					1,998
Property, plant and equipment, net						1,995					1,995
Other non-current assets				504		243					747
Total	$	750		$	2,355	$	8,671	$	(4,286	)	$	7,490

Liabilities and equity
Current liabilities
Short-term debt						$	261				$	261
Current maturities of long-term debt						115					115
Accounts payable and accrued liabilities	$	18		$	34	2,090					2,142
Total current liabilities	18			34		2,466					2,518

Long-term debt, excluding current maturities				412		2,877					3,289
Long-term intercompany debt	894			875				$	(1,769	)
Postretirement and pension liabilities	—					1,098					1,098
Other non-current liabilities	—			285		177					462
Commitments and contingent liabilities
Noncontrolling interests						285					285
Crown Holdings shareholders’ equity/(deficit)	(162		)	749		1,768		(2,517		)	(162		)
Total equity/(deficit)	(162		)	749		2,053		(2,517		)	123
Total	$	750		$	2,355	$	8,671	$	(4,286	)	$	7,490

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 year ended December 31, 2012

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	14		$	(217	)	$	824					$	621
Cash flows from investing activities
Capital expenditures							(324		)				(324		)
Acquisition of businesses, net of cash acquired							(78		)				(78		)
Intercompany investing activities				67			—			$	(67	)	—
Insurance proceeds							48						48
Proceeds from sale of property, plant and equipment							3						3
Other							(11		)				(11		)
Net cash provided by/(used for) investing activities	—			67			(362		)	(67		)	(362		)
Cash flows from financing activities
Proceeds from long-term debt							109						109
Payments of long-term debt							(66		)				(66		)
Net change in revolving credit facility and short-term debt							29						29
Net change in long-term intercompany balances	226			150			(376		)				—
Common stock issued	17						—						17
Common stock repurchased	(257		)				—						(257		)
Dividends paid							(67		)	67
Purchase of noncontrollling interests				—			(4		)				(4		)
Dividend paid to noncontrolling interests							(79		)				(79		)
Other							(3		)				(3		)
Net cash provided by/(used for) financing activities	(14		)	150			(457		)	67			(254		)
Effect of exchange rate changes on cash and cash equivalents							3						3
Net change in cash and cash equivalents	—			—			8			—			8
Cash and cash equivalents at January 1	—			—			342			—			342
Cash and cash equivalents at December 31	$	—		$	—		$	350		$	—		$	350

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2011

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	10		$	(39	)	$	408					$	379
Cash flows from investing activities
Capital expenditures							(401		)				(401		)
Intercompany investing activities				49						$	(49	)	—
Proceeds from sale of property, plant and equipment							26						26
Other							3						3
Net cash provided by/(used for) investing activities				49			(372		)	(49		)	(372		)
Cash flows from financing activities
Proceeds from long-term debt							1,770						1,770
Payments of long-term debt							(1,069		)				(1,069		)
Net change in revolving credit facility and short-term debt							(192		)				(192		)
Net change in long-term intercompany balances	291			86			(377		)				—
Debt issue costs							(22		)				(22		)
Common stock issued	11			—			—						11
Common stock repurchased	(312		)										(312		)
Dividends paid							(49		)	49			—
Purchase of noncontrolling interests	—			(96		)	(106		)				(202		)
Dividend paid to noncontrolling interests							(104		)				(104		)
Other							(9		)				(9		)
Net cash provided by/(used for) financing activities	(10		)	(10		)	(158		)	49			(129		)
Effect of exchange rate changes on cash and cash equivalents							1						1
Net change in cash and cash equivalents	—			—			(121		)	—			(121		)
Cash and cash equivalents at January 1							463						463
Cash and cash equivalents at December 31	$	—		$	—		$	342		$	—		$	342

CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2010 (in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	26		$	(26	)	$	590					$	590
Cash flows from investing activities
Capital expenditures							(320		)				(320		)
Intercompany investing activities				55						$	(55	)	—
Proceeds from sale of business, net of cash sold							7						7
Proceeds from sale of property, plant and equipment							32						32
Net cash provided by/(used for) investing activities	—			55			(281		)	(55		)	(281		)
Cash flows from financing activities
Proceeds from long-term debt							745						745
Payments of long-term debt				(1		)	(733		)				(734		)
Net change in revolving credit facility and short-term debt							278						278
Net change in long-term intercompany balances	216			(28		)	(188		)				—
Common stock issued	13			—			—						13
Common stock repurchased	(255		)										(255		)
Dividends paid							(55		)	55			—
Purchase of noncontrolling interests				—			(169		)				(169		)
Dividend paid to noncontrolling interests							(112		)				(112		)
Other							(65		)				(65		)
Net cash provided by/(used for) financing activities	(26		)	(29		)	(299		)	55			(299		)
Effect of exchange rate changes on cash and cash equivalents							(6		)				(6		)
Net change in cash and cash equivalents	—			—			4			—			4
Cash and cash equivalents at January 1							459						459
Cash and cash equivalents at December 31	$	—		$	—		$	463		$	—		$	463

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 and cash flows for the years ended December 31, 2012, 2011, 2010, and


•	balance sheets as of December 31, 2012 and December 31, 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 year ended December 31, 2012 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,276		$	6,194					$	8,470
Cost of products sold, excluding depreciation and amortization			—			1,821			5,192						7,013
Depreciation and amortization						40			140						180
Gross profit						415			862						1,277
Selling and administrative expense			$	7		131			244						382
Provision for asbestos						35									35
Provision for restructuring						5			43						48
Asset impairments and sales						(1		)	(41		)				(42		)
Net interest expense			50			90			79						219
Technology royalty						(41		)	41
Translation and foreign exchange									(1		)				(1		)
Income/(loss) before income taxes			(57		)	196			497						636
Provision for / (benefit from) income taxes			(22		)	(97		)	102						(17		)
Equity earnings / (loss) in affiliates	$	557	217			264			1			$	(1,034	)	5
Net income	557		182			557			396			(1,034		)	658
Net income attributable to noncontrolling interests									(101		)				(101		)
Net income attributable to Crown Holdings	$	557	$	182		$	557		$	295		$	(1,034	)	$	557

Comprehensive income	$	533	$	162		$	533		$	385		$	(974	)	$	639
Comprehensive income attributable to noncontrolling interests									(106		)				(106		)
Comprehensive income attributable to Crown Holdings	$	533	$	162		$	533		$	279		$	(974	)	$	533

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2011 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,297		$	6,347					$	8,644
Cost of products sold, excluding depreciation and amortization						1,865			5,255						7,120
Depreciation and amortization						39			137						176
Gross profit						393			955						1,348
Selling and administrative expense			$	6		134			255						395
Provision for asbestos						28			—						28
Provision for restructuring						2			75						77
Asset impairments and sales			—			1			5						6
Loss from early extinguishment of debt			30			1			1						32
Net interest expense			49			81			91						221
Technology royalty						(47		)	47						—
Translation and foreign exchange			—			—			2						2
Income/(loss) before income taxes			(85		)	193			479						587
Provision for / (benefit from) income taxes	—		(32		)	114			112			—			194
Equity earnings / (loss) in affiliates	$	282	237			203			—			$	(719	)	3
Net income	282		184			282			367			(719		)	396
Net income attributable to noncontrolling interests	—		—			—			(114		)				(114		)
Net income attributable to Crown Holdings	$	282	$	184		$	282		$	253		$	(719	)	$	282

Comprehensive income	$	19	$	160		$	19		$	125		$	(194	)	$	129
Comprehensive income attributable to noncontrolling interests									(110		)				(110		)
Comprehensive income attributable to Crown Holdings	$	19	$	160		$	19		$	15		$	(194	)	$	19

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2010 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,323		$	5,618					$	7,941
Cost of products sold, excluding depreciation and amortization						1,966			4,553						6,519
Depreciation and amortization						40			132						172
Gross profit						317			933						1,250
Selling and administrative expense			$	7		137			216						360
Provision for asbestos						46			—						46
Provision for restructuring						(14		)	56						42
Asset impairments and sales			(2		)	1			(17		)				(18		)
Loss from early extinguishment of debt			11			—			5						16
Net interest expense			40			96			58						194
Technology royalty						(41		)	41
Translation and foreign exchange			—			—			(4		)				(4		)
Income/(loss) before income taxes			(56		)	92			578						614
Provision for / (benefit from) income taxes	—		(21		)	46			140			—			165
Equity earnings / (loss) in affiliates	$	324	189			279			—			$	(789	)	3
Net income	324		154			325			438			(789		)	452
Net income attributable to noncontrolling interests	—		—			(1		)	(127		)	—			(128		)
Net income attributable to Crown Holdings	$	324	$	154		$	324		$	311		$	(789	)	$	324

Comprehensive income	$	237	$	139		$	237		$	360		$	(615	)	$	358
Comprehensive income attributable to noncontrolling interests									(121		)				(121		)
Comprehensive income attributable to Crown Holdings	$	237	$	139		$	237		$	239		$	(615	)	$	237

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2012

(in millions)



	Parent			Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents				$	27	$	1	$	322				$	350
Receivables, net				2		14		1,041					1,057
Intercompany receivables						7		17		$	(24	)
Inventories						282		884					1,166
Prepaid expenses and other current assets	$	1		1		92		83					177
Total current assets	1			30		396		2,347		(24		)	2,750

Intercompany debt receivables				1,530		1,483		279		(3,292		)
Investments	749			1,560		606				(2,915		)
Goodwill						453		1,545					1,998
Property, plant and equipment, net				1		308		1,686					1,995
Other non-current assets				26		529		192					747
Total	$	750		$	3,147	$	3,775	$	6,049	$	(6,231	)	$	7,490

Liabilities and equity
Current liabilities
Short-term debt								$	261				$	261
Current maturities of long-term debt				$	28	—		87					115
Accounts payable and accrued liabilities	$	18		33		$	317	1,774					2,142
Intercompany payables						17		7		$	(24	)
Total current liabilities	18			61		334		2,129		(24		)	2,518

Long-term debt, excluding current maturities				1,616		412		1,261					3,289
Long-term intercompany debt	894			756		1,447		195		(3,292		)
Postretirement and pension liabilities						545		553					1,098
Other non-current liabilities						288		174					462
Commitments and contingent liabilities
Noncontrolling interests								285					285
Crown Holdings shareholders’ equity/(deficit)	(162		)	714		749		1,452		(2,915		)	(162		)
Total equity/(deficit)	(162		)	714		749		1,737		(2,915		)	123
Total	$	750		$	3,147	$	3,775	$	6,049	$	(6,231	)	$	7,490

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 year ended December 31, 2012

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	14		$	(28	)	$	213		$	422					$	621
Cash flows from investing activities
Capital expenditures							(41		)	(283		)				(324		)
Acquisition of businesses, net of cash acquired							(29		)	(49		)				(78		)
Intercompany investing activities				29			268						$	(297	)
Insurance proceeds										48						48
Proceeds from sale of property, plant and equipment							1			2						3
Other										(11		)				(11		)
Net cash provided by/(used for) investing activities				29			199			(293		)	(297		)	(362		)
Cash flows from financing activities
Proceeds from long-term debt										109						109
Payments of long-term debt							(1		)	(65		)				(66		)
Net change in revolving credit facility and short-term debt				(104		)				133						29
Net change in long-term intercompany balances	226			109			(408		)	73
Common stock issued	17															17
Common stock repurchased	(257		)													(257		)
Dividends paid										(297		)	297
Purchase of noncontrolling interests							(3		)	(1		)				(4		)
Dividends paid to noncontrolling interests										(79		)				(79		)
Other										(3		)				(3		)
Net cash provided by/(used for) financing activities	(14		)	5			(412		)	(130		)	297			(254		)
Effect of exchange rate changes on cash and cash equivalents										3						3
Net change in cash and cash equivalents	—			6			—			2			—			8
Cash and cash equivalents at January 1				21			1			320						342
Cash and cash equivalents at December 31	$	—		$	27		$	1		$	322		$	—		$	350

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2011

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	10		$	(29	)	$	(127	)	$	525					$	379
Cash flows from investing activities
Capital expenditures							(55		)	(346		)				(401		)
Proceeds from sale of property, plant and equipment										26						26
Intercompany investing activities				31			53			—			$	(84	)	—
Other							3			—						3
Net cash provided by/(used for) investing activities	—			31			1			(320		)	(84		)	(372		)
Cash flows from financing activities
Proceeds from long-term debt				1,250						520						1,770
Payments of long-term debt				(746		)	(1		)	(322		)				(1,069		)
Net change in revolving credit facility and short-term debt				(55		)				(137		)				(192		)
Net change in long-term intercompany balances	291			(449		)	223			(65		)
Debt issue costs				(19		)				(3		)				(22		)
Common stock issued	11															11
Common stock repurchased	(312		)							—			—			(312		)
Dividends paid							—			(84		)	84
Purchase of noncontrolling interests							(96		)	(106		)				(202		)
Dividends paid to noncontrolling interests										(104		)				(104		)
Other	—			—			—			(9		)	—			(9		)
Net cash provided by/(used for) financing activities	(10		)	(19		)	126			(310		)	84			(129		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			1			—			1
Net change in cash and cash equivalents	—			(17		)	—			(104		)	—			(121		)
Cash and cash equivalents at January 1	—			38			1			424			—			463
Cash and cash equivalents at December 31	$	—		$	21		$	1		$	320		$	—		$	342



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	26		$	(20	)	$	190		$	394					$	590
Cash flows from investing activities
Capital expenditures							(41		)	(279		)				(320		)
Proceeds from sale of businesses, net of cash sold				3			—			4			—			7
Proceeds from sale of property, plant and equipment							1			31						32
Intercompany investing activities				20			22			38			$	(80	)	—
Net cash provided by/(used for) investing activities	—			23			(18		)	(206		)	(80		)	(281		)
Cash flows from financing activities
Proceeds from long-term debt				—						745						745
Payments of long-term debt				(404		)	(1		)	(329		)				(734		)
Net change in revolving credit facility and short-term debt				65						213						278
Net change in long-term intercompany balances	216			359			(171		)	(404		)				—
Common stock issued	13															13
Common stock repurchased	(255		)							—			—			(255		)
Dividends paid							—			(80		)	80
Purchase of noncontrolling interests							—			(169		)				(169		)
Dividends paid to noncontrolling interests										(112		)				(112		)
Other	—			(12		)	—			(53		)	—			(65		)
Net cash provided by/(used for) financing activities	(26		)	8			(172		)	(189		)	80			(299		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(6		)	—			(6		)
Net change in cash and cash equivalents	—			11			—			(7		)	—			4
Cash and cash equivalents at January 1	—			27			1			431			—			459
Cash and cash equivalents at December 31	$	—		$	38		$	1		$	424		$	—		$	463