Condensed Combining Financial Information (Tables)

6 Months Ended

Jun. 30, 2013

Crown European Holdings SA [Member]

Condensed Combining Statement Of Comprehensive Income

For the three months ended June 30, 2013

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,120		$	1,103					$	2,223
Cost of products sold, excluding depreciation and amortization						877			941						1,818
Depreciation and amortization						10			20						30
Gross profit						233			142						375
Selling and administrative expense			$	(2	)	80			24						102
Provision for restructuring			—			4			—						4
Net interest expense			14			32			14						60
Technology royalty			—			(10		)	10						—
Foreign exchange			—			1			(1		)				—
Income/(loss) before income taxes			(12		)	126			95						209
Provision for / (benefit from) income taxes			—			24			31						55
Equity earnings / (loss) in affiliates	$	133	39			31			—			$	(202	)	1
Net income	133		27			133			64			(202		)	155
Net income attributable to noncontrolling interests									(22		)				(22		)
Net income attributable to Crown Holdings	$	133	$	27		$	133		$	42		$	(202	)	$	133
Comprehensive income	$	148	$	28		$	148		$	58		$	(213	)	$	169
Comprehensive income attributable to noncontrolling interests									(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	148	$	28		$	148		$	37		$	(213	)	$	148

For the three months ended June 30, 2012

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,188		$	996					$	2,184
Cost of products sold, excluding depreciation and amortization						972			827						1,799
Depreciation and amortization						20			25						45
Gross profit			—			196			144						340
Selling and administrative expense			$	(1	)	67			24						90
Provision for restructuring						2			1						3
Asset impairments and sales						(1		)	(9		)	—			(10		)
Net interest expense			13			32			9						54
Technology royalty						(12		)	12						—
Foreign exchange	—		—			(2		)	(3		)	—			(5		)
Income/(loss) before income taxes			(12		)	110			110			—			208
Provision for / (benefit from) income taxes	—		—			36			15			—			51
Equity earnings / (loss) in affiliates	$	134	65			60			—			$	(259	)	—
Net income	134		53			134			95			(259		)	157
Net income attributable to noncontrolling interests	—		—			—			(23		)	—			(23		)
Net income attributable to Crown Holdings	$	134	$	53		$	134		$	72		$	(259	)	$	134
Comprehensive income	$	93	$	6		$	93		$	16		$	(97	)	$	111
Comprehensive income attributable to noncontrolling interests	—		—			—			(18		)	—			(18		)
Comprehensive income attributable to Crown Holdings	$	93	$	6		$	93		$	(2	)	$	(97	)	$	93

For the six months ended June 30, 2013

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,128		$	2,068					$	4,196
Cost of products sold, excluding depreciation and amortization						1,705			1,753						3,458
Depreciation and amortization						24			40						64
Gross profit						399			275						674
Selling and administrative expense			$	(2	)	161			47						206
Provision for restructuring			—			6			2						8
Loss from early extinguishments of debt			1			37									38
Net interest expense			27			64			27						118
Technology royalty			—			(18		)	18						—
Foreign exchange			—			3			(1		)				2
Income/(loss) before income taxes			(26		)	146			182						302
Provision for / (benefit from) income taxes			—			40			39						79
Equity earnings / (loss) in affiliates	$	174	61			68			—			$	(304	)	(1		)
Net income	174		35			174			143			(304		)	222
Net income attributable to noncontrolling interests									(48		)				(48		)
Net income attributable to Crown Holdings	$	174	$	35		$	174		$	95		$	(304	)	$	174
Comprehensive income	$	172	$	17		$	172		$	107		$	(252	)	$	216
Comprehensive income attributable to noncontrolling interests									(44		)				(44		)
Comprehensive income attributable to Crown Holdings	$	172	$	17		$	172		$	63		$	(252	)	$	172

For the six months ended June 30, 2012

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,277		$	1,854					$	4,131
Cost of products sold, excluding depreciation and amortization						1,883			1,534						3,417
Depreciation and amortization						38			49						87
Gross profit			—			356			271						627
Selling and administrative expense			$	(1	)	150			47						196
Provision for restructuring						2			1						3
Asset impairments and sales						(1		)	(9		)				(10		)
Net interest expense			28			63			19						110
Technology royalty						(19		)	19						—
Foreign exchange	—		—			—			(2		)				(2		)
Income/(loss) before income taxes			(27		)	161			196			—			330
Provision for / (benefit from) income taxes	—		—			54			29			—			83
Equity earnings / (loss) in affiliates	$	203	114			96			—			(413		)	—
Net income	203		87			203			167			(413		)	247
Net income attributable to noncontrolling interests	—		—			—			(44		)	—			(44		)
Net income attributable to Crown Holdings	$	203	$	87		$	203		$	123		$	(413	)	$	203
Comprehensive income	$	237	$	104		$	237		$	159		$	(458	)	$	279
Comprehensive income attributable to noncontrolling interests	—		—			—			(42		)	—			(42		)
Comprehensive income attributable to Crown Holdings	$	237	$	104		$	237		$	117		$	(458	)	$	237

Condensed Combining Balance Sheet

As of June 30, 2013

(in millions)

	Parent			Issuer		Guarantors			Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	114		$	113				$	227
Receivables, net						340			962					1,302
Intercompany receivables				$	2	88			37		$	(127	)
Inventories						692			732					1,424
Prepaid expenses and other current assets	3			16		133			67					219
Total current assets	3			18		1,367			1,911		(127		)	3,172
Intercompany debt receivables				1,516		3,547			533		(5,596		)
Investments	$	920		3,906		(271		)			(4,555		)
Goodwill						1,382			562					1,944
Property, plant and equipment, net						605			1,413					2,018
Other non-current assets				22		630			83					735
Total	$	923		$	5,462	$	7,260		$	4,502	$	(10,278	)	$	7,869
Liabilities and equity
Current liabilities
Short-term debt				$	1	$	10		$	275				$	286
Current maturities of long-term debt				36		55			77					168
Accounts payable and accrued liabilities	$	11		26		1,087			1,053					2,177
Intercompany payables				—		37			90		$	(127	)
Total current liabilities	11			63		1,189			1,495		(127		)	2,631
Long-term debt, excluding current maturities				1,019		2,450			203					3,672
Long-term intercompany debt	1,073			2,206		1,454			863		(5,596		)
Postretirement and pension liabilities						971			19					990
Other non-current liabilities				8		276			167					451
Commitments and contingent liabilities
Noncontrolling interests						—			286					286
Crown Holdings shareholders’ equity/(deficit)	(161		)	2,166		920			1,469		(4,555		)	(161		)
Total equity/(deficit)	(161		)	2,166		920			1,755		(4,555		)	125
Total	$	923		$	5,462	$	7,260		$	4,502	$	(10,278	)	$	7,869

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 Statement Of Cash Flows

For the six months ended June 30, 2013

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	2		$	(21	)	$	(199	)	$	(33	)				$	(251	)
Cash flows from investing activities
Capital expenditures							(29		)	(95		)				(124		)
Insurance proceeds										8						8
Change in restricted cash										(5		)				(5		)
Proceeds from sale of property, plant and equipment							3			2						5
Intercompany investing activities				(39		)	50						$	(11	)	—
Net cash provided by/(used for) investing activities	—			(39		)	24			(90		)	(11		)	(116		)
Cash flows from financing activities
Proceeds from long-term debt							1,000			40						1,040
Payments of long-term debt				(217		)	(729		)	(38		)				(984		)
Net change in revolving credit facility and short-term debt				267			140			16						423
Debt issue costs				—			(15		)	—						(15		)
Net change in long-term intercompany balances	179			11			(253		)	63						—
Capital contribution										39			(39		)	—
Common stock issued	13															13
Common stock repurchased	(194		)													(194		)
Dividends paid							—			(50		)	50
Purchase of noncontrolling interests							—			(10		)				(10		)
Dividends paid to noncontrolling interests										(35		)				(35		)
Other				(1		)	12			—						11
Net cash provided by/(used for) financing activities	(2		)	60			155			25			11			249
Effect of exchange rate changes on cash and cash equivalents										(5		)				(5		)
Net change in cash and cash equivalents	—			—			(20		)	(103		)	—			(123		)
Cash and cash equivalents at January 1							134			216						350
Cash and cash equivalents at June 30	$	—		$	—		$	114		$	113		$	—		$	227

For the six months ended June 30, 2012

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	1		$	(26	)	$	(95	)	$	(96	)				$	(216	)
Cash flows from investing activities
Capital expenditures							(29		)	(110		)				(139		)
Insurance proceeds										23						23
Change in restricted cash				—						(11		)				(11		)
Proceeds from sale of property, plant and equipment							2									2
Intercompany investing activities				34			55			—			$	(89	)	—
Other							—			(3		)				(3		)
Net cash provided by/(used for) investing activities				34			28			(101		)	(89		)	(128		)
Cash flows from financing activities
Proceeds from long-term debt				—			—			42						42
Payments of long-term debt				—			—			(32		)				(32		)
Net change in revolving credit facility and short-term debt				4			210			60						274
Net change in long-term intercompany balances	2			(20		)	(115		)	133						—
Common stock issued	4															4
Common stock repurchased	(7		)													(7		)
Dividends paid							(34		)	(55		)	89			—
Dividends paid to noncontrolling interests										(38		)				(38		)
Other				8			(13		)	—						(5		)
Net cash provided by/(used for) financing activities	(1		)	(8		)	48			110			89			238
Effect of exchange rate changes on cash and cash equivalents										(6		)				(6		)
Net change in cash and cash equivalents	—			—			(19		)	(93		)	—			(112		)
Cash and cash equivalents at January 1				—			54			288						342
Cash and cash equivalents at June 30	$	—		$	—		$	35		$	195		$	—		$	230

Crown Cork & Seal Company, Inc [Member]

Condensed Combining Statement Of Comprehensive Income

For the three months ended June 30, 2013

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,223					$	2,223
Cost of products sold, excluding depreciation and amortization			(16		)	1,834						1,818
Depreciation and amortization						30						30
Gross profit			16			359						375
Selling and administrative expense	—		(2		)	104						102
Provision for restructuring	—					4						4
Net interest expense			25			35						60
Income/(loss) before income taxes			(7		)	216			—			209
Provision for / (benefit from) income taxes			(3		)	58						55
Equity earnings / (loss) in affiliates	$	133	137			—			$	(269	)	1
Net income	133		133			158			(269		)	155
Net income attributable to noncontrolling interests						(22		)				(22		)
Net income attributable to Crown Holdings	$	133	$	133		$	136		$	(269	)	$	133
Comprehensive income	$	148	$	148		$	172		$	(299	)	$	169
Comprehensive income attributable to noncontrolling interests						(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	148	$	148		$	151		$	(299	)	$	148

For the three months ended June 30, 2012

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,184					$	2,184
Cost of products sold, excluding depreciation and amortization						1,799						1,799
Depreciation and amortization						45						45
Gross profit						340						340
Selling and administrative expense			$	2		88						90
Provision for restructuring						3						3
Asset impairments and sales						(10		)				(10		)
Net interest expense			22			32						54
Foreign exchange						(5		)				(5		)
Income/(loss) before income taxes			(24		)	232						208
Provision for / (benefit from) income taxes			(3		)	54						51
Equity earnings / (loss) in affiliates	$	134	155			—			$	(289	)	—
Net income	134		134			178			(289		)	157
Net income attributable to noncontrolling interests						(23		)				(23		)
Net income attributable to Crown Holdings	$	134	$	134		$	155		$	(289	)	$	134
Comprehensive income	$	93	$	93		$	133		$	(208	)	$	111
Comprehensive income attributable to noncontrolling interests						(18		)				(18		)
Comprehensive income attributable to Crown Holdings	$	93	$	93		$	115		$	(208	)	$	93

For the six months ended June 30, 2013

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	4,196					$	4,196
Cost of products sold, excluding depreciation and amortization			(16		)	3,474						3,458
Depreciation and amortization						64						64
Gross profit	—		16			658			—			674
Selling and administrative expense	—		1			205						206
Provision for restructuring						8						8
Loss from early extinguishment of debt						38						38
Net interest expense			51			67						118
Foreign exchange						2						2
Income/(loss) before income taxes			(36		)	338						302
Provision for / (benefit from) income taxes			(1		)	80						79
Equity earnings / (loss) in affiliates	$	174	209			—			$	(384	)	(1		)
Net income	174		174			258			(384		)	222
Net income attributable to noncontrolling interests						(48		)				(48		)
Net income attributable to Crown Holdings	$	174	$	174		$	210		$	(384	)	$	174
Comprehensive income	$	172	$	172		$	252		$	(380	)	$	216
Comprehensive income attributable to noncontrolling interests						(44		)				(44		)
Comprehensive income attributable to Crown Holdings	$	172	$	172		$	208		$	(380	)	$	172

For the six months ended June 30, 2012

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net Sales						$	4,131					$	4,131
Cost of products sold, excluding depreciation and amortization						3,417						3,417
Depreciation and amortization						87						87
Gross profit						627						627
Selling and administrative expense			$	5		191						196
Provision for restructuring						3						3
Asset impairments and sales						(10		)				(10		)
Net interest expense			45			65						110
Foreign exchange						(2		)				(2		)
Income/(loss) before income taxes			(50		)	380						330
Provision for / (benefit from) income taxes			(7		)	90						83
Equity earnings / (loss) in affiliates	$	203	246			—			$	(449	)	—
Net income	203		203			290			(449		)	247
Net income attributable to noncontrolling interests						(44		)				(44		)
Net income attributable to Crown Holdings	$	203	$	203		$	246		$	(449	)	$	203
Comprehensive income	$	237	$	237		$	323		$	(518	)	$	279
Comprehensive income attributable to noncontrolling interests						(42		)				(42		)
Comprehensive income attributable to Crown Holdings	$	237	$	237		$	281		$	(518	)	$	237

Condensed Combining Balance Sheet

As of June 30, 2013

(in millions)

	Parent			Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	227				$	227
Receivables, net				$	9	1,293					1,302
Inventories						1,424					1,424
Prepaid expenses and other current assets	$	3		83		133					219
Total current assets	3			92		3,077					3,172
Intercompany debt receivables						1,963		$	(1,963	)
Investments	920			1,927				(2,847		)
Goodwill						1,944					1,944
Property, plant and equipment, net						2,018					2,018
Other non-current assets				502		233					735
Total	$	923		$	2,521	$	9,235	$	(4,810	)	$	7,869
Liabilities and equity
Current liabilities
Short-term debt						$	286				$	286
Current maturities of long-term debt						168					168
Accounts payable and accrued liabilities	$	11		$	26	2,140					2,177
Total current liabilities	11			26		2,594					2,631
Long-term debt, excluding current maturities				412		3,260					3,672
Long-term intercompany debt	1,073			890				$	(1,963	)
Postretirement and pension liabilities	—					990					990
Other non-current liabilities	—			273		178					451
Commitments and contingent liabilities
Noncontrolling interests						286					286
Crown Holdings shareholders’ equity/(deficit)	(161		)	920		1,927		(2,847		)	(161		)
Total equity/(deficit)	(161		)	920		2,213		(2,847		)	125
Total	$	923		$	2,521	$	9,235	$	(4,810	)	$	7,869

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 Statement Of Cash Flows

For the six months ended June 30, 2013

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provide by/(used for) operating activities	$	2		$	(63	)	$	(190	)				$	(251	)
Cash flows from investing activities
Capital expenditures							(124		)				(124		)
Insurance proceeds							8						8
Change in restricted cash							(5		)				(5		)
Proceeds from sale of property, plant and equipment							5						5
Intercompany investing activities				47			—			$	(47	)	—
Net cash provided by/(used for) investing activities	—			47			(116		)	(47		)	(116		)
Cash flows from financing activities
Proceeds from long-term debt							1,040						1,040
Payments of long-term debt							(984		)				(984		)
Net change in revolving credit facility and short-term debt							423						423
Debt issue costs							(15		)				(15		)
Net change in long-term intercompany balances	179			16			(195		)				—
Common stock issued	13						—						13
Common stock repurchased	(194		)				—						(194		)
Dividends paid							(47		)	47
Purchase of noncontrollling interests				—			(10		)				(10		)
Dividend paid to noncontrolling interests							(35		)				(35		)
Other							11						11
Net cash provided by/(used for) financing activities	(2		)	16			188			47			249
Effect of exchange rate changes on cash and cash equivalents							(5		)				(5		)
Net change in cash and cash equivalents	—			—			(123		)	—			(123		)
Cash and cash equivalents at January 1	—			—			350			—			350
Cash and cash equivalents at June 30	$	—		$	—		$	227		$	—		$	227

For the six months ended June 30, 2012

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	1		$	(51	)	$	(166	)				$	(216	)
Cash flows from investing activities
Capital expenditures							(139		)				(139		)
Insurance proceeds							23						23
Change in restricted cash							(11		)				(11		)
Proceeds from sale of property, plant and equipment							2						2
Intercompany investing activities				43						$	(43	)	—
Other							(3		)				(3		)
Net cash provided by/(used for) investing activities				43			(128		)	(43		)	(128		)
Cash flows from financing activities
Proceeds from long-term debt							42						42
Payments of long-term debt							(32		)				(32		)
Net change in revolving credit facility and short-term debt							274						274
Net change in long-term intercompany balances	2			8			(10		)				—
Common stock issued	4			—			—						4
Common stock repurchased	(7		)										(7		)
Dividends paid							(43		)	43			—
Dividend paid to noncontrolling interests							(38		)				(38		)
Other							(5		)				(5		)
Net cash provided by/(used for) financing activities	(1		)	8			188			43			238
Effect of exchange rate changes on cash and cash equivalents							(6		)				(6		)
Net change in cash and cash equivalents	—			—			(112		)	—			(112		)
Cash and cash equivalents at January 1							342						342
Cash and cash equivalents at June 30	$	—		$	—		$	230		$	—		$	230

Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member]

Condensed Combining Statement Of Comprehensive Income

For the three months ended June 30, 2013

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	580		$	1,643					$	2,223
Cost of products sold, excluding depreciation and amortization			—			434			1,384						1,818
Depreciation and amortization						6			24						30
Gross profit						140			235						375
Selling and administrative expense			$	1		34			67						102
Provision for restructuring						—			4						4
Net interest expense			11			23			26						60
Technology royalty						(13		)	13
Income/(loss) before income taxes			(12		)	96			125						209
Provision for / (benefit from) income taxes			(5		)	39			21						55
Equity earnings / (loss) in affiliates	$	133	72			76			—			$	(280	)	1
Net income	133		65			133			104			(280		)	155
Net income attributable to noncontrolling interests									(22		)				(22		)
Net income attributable to Crown Holdings	$	133	$	65		$	133		$	82		$	(280	)	$	133
Comprehensive income	$	148	$	67		$	148		$	116		$	(310	)	$	169
Comprehensive income attributable to noncontrolling interests									(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	148	$	67		$	148		$	95		$	(310	)	$	148

For the three months ended June 30, 2012

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	600		$	1,584					$	2,184
Cost of products sold, excluding depreciation and amortization						473			1,326						1,799
Depreciation and amortization						10			35						45
Gross profit						117			223						340
Selling and administrative expense			$	1		32			57						90
Provision for restructuring						1			2						3
Asset impairments and sales			—			(1		)	(9		)				(10		)
Net interest expense			13			23			18						54
Technology royalty			—			(10		)	10
Foreign exchange			—			—			(5		)				(5		)
Income/(loss) before income taxes			(14		)	72			150						208
Provision for / (benefit from) income taxes	—		(5		)	34			22			—			51
Equity earnings / (loss) in affiliates	$	134	61			96			—			$	(291	)	—
Net income	134		52			134			128			(291		)	157
Net income attributable to noncontrolling interests						—			(23		)				(23		)
Net income attributable to Crown Holdings	$	134	$	52		$	134		$	105		$	(291	)	$	134
Comprehensive income	$	93	$	59		$	93		$	75		$	(209	)	$	111
Comprehensive income attributable to noncontrolling interests	—		—			—			(18		)	—			(18		)
Comprehensive income attributable to Crown Holdings	$	93	$	59		$	93		$	57		$	(209	)	$	93

For the six months ended June 30, 2013

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,114		$	3,082					$	4,196
Cost of products sold, excluding depreciation and amortization			—			863			2,595						3,458
Depreciation and amortization						13			51						64
Gross profit						238			436						674
Selling and administrative expense			$	4		71			131						206
Provision for restructuring						4			4						8
Loss from early extinguishment of debt			37						1						38
Net interest expense			24			46			48						118
Technology royalty						(22		)	22
Foreign exchange									2						2
Income/(loss) before income taxes			(65		)	139			228						302
Provision for / (benefit from) income taxes			(25		)	67			37						79
Equity earnings / (loss) in affiliates	$	174	124			102						$	(401	)	(1		)
Net income	174		84			174			191			(401		)	222
Net income attributable to noncontrolling interests									(48		)				(48		)
Net income attributable to Crown Holdings	$	174	$	84		$	174		$	143		$	(401	)	$	174
Comprehensive income	$	172	$	91		$	172		$	178		$	(397	)	$	216
Comprehensive income attributable to noncontrolling interests									(44		)				(44		)
Comprehensive income attributable to Crown Holdings	$	172	$	91		$	172		$	134		$	(397	)	$	172

For the six months ended June 30, 2012

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,140		$	2,991					$	4,131
Cost of products sold, excluding depreciation and amortization						913			2,504						3,417
Depreciation and amortization						20			67						87
Gross profit						207			420						627
Selling and administrative expense			$	3		71			122						196
Provision for restructuring						1			2						3
Asset impairments and sales			—			(1		)	(9		)				(10		)
Net interest expense			26			45			39						110
Technology royalty			—			(20		)	20
Foreign exchange			—			—			(2		)				(2		)
Income/(loss) before income taxes			(29		)	111			248						330
Provision for / (benefit from) income taxes	—		(11		)	55			39			—			83
Equity earnings / (loss) in affiliates	$	203	116			147			—			$	(466	)	—
Net income	203		98			203			209			(466		)	247
Net income attributable to noncontrolling interests						—			(44		)				(44		)
Net income attributable to Crown Holdings	$	203	$	98		$	203		$	165		$	(466	)	$	203
Comprehensive income	$	237	$	105		$	237		$	234		$	(534	)	$	279
Comprehensive income attributable to noncontrolling interests	—		—			—			(42		)	—			(42		)
Comprehensive income attributable to Crown Holdings	$	237	$	105		$	237		$	192		$	(534	)	$	237

Condensed Combining Balance Sheet

As of June 30, 2013

(in millions)

	Parent			Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents				$	21	—		$	206				$	227
Receivables, net				—		$	18	1,284					1,302
Intercompany receivables						41		20		$	(61	)
Inventories						328		1,096					1,424
Prepaid expenses and other current assets	$	3		1		95		120					219
Total current assets	3			22		482		2,726		(61		)	3,172
Intercompany debt receivables				1,673		1,720		14		(3,407		)
Investments	920			1,690		652				(3,262		)
Goodwill						453		1,491					1,944
Property, plant and equipment, net				1		306		1,711					2,018
Other non-current assets				30		495		210					735
Total	$	923		$	3,416	$	4,108	$	6,152	$	(6,730	)	$	7,869
Liabilities and equity
Current liabilities
Short-term debt								$	286				$	286
Current maturities of long-term debt				$	55	—		113					168
Accounts payable and accrued liabilities	$	11		50		$	373	1,743					2,177
Intercompany payables						20		41		$	(61	)
Total current liabilities	11			105		393		2,183		(61		)	2,631
Long-term debt, excluding current maturities				1,996		412		1,264					3,672
Long-term intercompany debt	1,073			510		1,582		242		(3,407		)
Postretirement and pension liabilities						526		464					990
Other non-current liabilities						275		176					451
Commitments and contingent liabilities
Noncontrolling interests								286					286
Crown Holdings shareholders’ equity/(deficit)	(161		)	805		920		1,537		(3,262		)	(161		)
Total equity/(deficit)	(161		)	805		920		1,823		(3,262		)	125
Total	$	923		$	3,416	$	4,108	$	6,152	$	(6,730	)	$	7,869

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 Statement Of Cash Flows

For the six months ended June 30, 2013

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	2		$	(5	)	$	65		$	(313	)				$	(251	)
Cash flows from investing activities
Capital expenditures							(13		)	(111		)				(124		)
Insurance proceeds										8						8
Change in restricted cash										(5		)				(5		)
Proceeds from sale of property, plant and equipment							3			2						5
Intercompany investing activities				2			46						$	(48	)
Net cash provided by/(used for) investing activities				2			36			(106		)	(48		)	(116		)
Cash flows from financing activities
Proceeds from long-term debt				1,000						40						1,040
Payments of long-term debt				(729		)				(255		)				(984		)
Net change in revolving credit facility and short-term debt				130						293						423
Debt issue costs				(15		)				—						(15		)
Net change in long-term intercompany balances	179			(389		)	(102		)	312
Common stock issued	13															13
Common stock repurchased	(194		)													(194		)
Dividends paid										(48		)	48
Purchase of noncontrolling interests							—			(10		)				(10		)
Dividends paid to noncontrolling interests										(35		)				(35		)
Other										11						11
Net cash provided by/(used for) financing activities	(2		)	(3		)	(102		)	308			48			249
Effect of exchange rate changes on cash and cash equivalents										(5		)				(5		)
Net change in cash and cash equivalents	—			(6		)	(1		)	(116		)	—			(123		)
Cash and cash equivalents at January 1				27			1			322						350
Cash and cash equivalents at June 30	$	—		$	21		$	—		$	206		$	—		$	227

For the six months ended June 30, 2012

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	1		$	(15	)	$	69		$	(271	)				$	(216	)
Cash flows from investing activities
Capital expenditures							(13		)	(126		)				(139		)
Insurance Proceeds										23						23
Change in restricted cash				—			—			(11		)	—			(11		)
Proceeds from sale of property, plant and equipment							1			1						2
Intercompany investing activities				7			43			—			$	(50	)	—
Other							—			(3		)				(3		)
Net cash provided by/(used for) investing activities	—			7			31			(116		)	(50		)	(128		)
Cash flows from financing activities
Proceeds from long-term debt				—						42						42
Payments of long-term debt				—			—			(32		)				(32		)
Net change in revolving credit facility and short-term debt				191						83						274
Net change in long-term intercompany balances	2			(179		)	(100		)	277						—
Common stock issued	4															4
Common stock repurchased	(7		)							—			—			(7		)
Dividends paid							—			(50		)	50
Dividends paid to noncontrolling interests										(38		)				(38		)
Other	—			—			—			(5		)	—			(5		)
Net cash provided by/(used for) financing activities	(1		)	12			(100		)	277			50			238
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(6		)	—			(6		)
Net change in cash and cash equivalents	—			4			—			(116		)	—			(112		)
Cash and cash equivalents at January 1	—			21			1			320			—			342
Cash and cash equivalents at June 30	$	—		$	25		$	1		$	204		$	—		$	230