
.	Condensed Combining Financial Information

Crown European Holdings SA (Issuer), a wholly owned subsidiary of the Company, has €500 ($676 at September 30, 2013) 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, 2013 and 2012,

•balance sheets as of September 30, 2013 and December 31, 2012, and

•statements of cash flows for the nine months ended September 30, 2013 and 2012

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, 2013

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,174		$	1,215					$	2,389
Cost of products sold, excluding depreciation and amortization						948			1,013						1,961
Depreciation and amortization						14			20						34
Gross profit						212			182						394
Selling and administrative expense						83			30						113
Provision for restructuring						28			5						33
Asset impairments and sales						(2		)							(2		)
Net interest expense			$	12		32			13						57
Technology royalty						(14		)	14						—
Foreign exchange						(1		)	(1		)				(2		)
Income/(loss) before income taxes			(12		)	86			121						195
Provision for / (benefit from) income taxes						39			28						67
Equity earnings / (loss) in affiliates	$	101	37			54						$	(193	)	(1		)
Net income	101		25			101			93			(193		)	127
Net income attributable to noncontrolling interests									(26		)				(26		)
Net income attributable to Crown Holdings	$	101	$	25		$	101		$	67		$	(193	)	$	101

Comprehensive income	$	152	$	53		$	152		$	124		$	(300	)	$	181
Comprehensive income attributable to noncontrolling interests									(29		)				(29		)
Comprehensive income attributable to Crown Holdings	$	152	$	53		$	152		$	95		$	(300	)	$	152

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						—
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 nine months ended September 30, 2013

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	3,302		$	3,283					$	6,585
Cost of products sold, excluding depreciation and amortization						2,653			2,766						5,419
Depreciation and amortization						38			60						98
Gross profit						611			457						1,068
Selling and administrative expense			$	(2	)	244			77						319
Provision for restructuring						34			7						41
Asset impairments and sales						(2		)							(2		)
Loss from early extinguishments of debt			1			37									38
Net interest expense			39			96			40						175
Technology royalty						(32		)	32						—
Foreign exchange						2			(2		)				—
Income/(loss) before income taxes			(38		)	232			303						497
Provision for / (benefit from) income taxes						79			67						146
Equity earnings / (loss) in affiliates	$	275	98			122						$	(497	)	(2		)
Net income	275		60			275			236			(497		)	349
Net income attributable to noncontrolling interests									(74		)				(74		)
Net income attributable to Crown Holdings	$	275	$	60		$	275		$	162		$	(497	)	$	275

Comprehensive income	$	324	$	70		$	324		$	231		$	(552	)	$	397
Comprehensive income attributable to noncontrolling interests									(73		)				(73		)
Comprehensive income attributable to Crown Holdings	$	324	$	70		$	324		$	158		$	(552	)	$	324

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						—
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 BALANCE SHEET

As of September 30, 2013

(in millions)



	Parent			Issuer		Guarantors			Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	140		$	96				$	236
Receivables, net				$	1	399			1,059					1,459
Intercompany receivables				2		99			48		$	(149	)
Inventories						615			716					1,331
Prepaid expenses and other current assets	$	1		19		122			76					218
Total current assets	1			22		1,375			1,995		(149		)	3,244

Intercompany debt receivables				1,626		3,743			676		(6,045		)
Investments	1,074			4,036		(284		)			(4,826		)
Goodwill						1,429			581					2,010
Property, plant and equipment, net						625			1,462					2,087
Other non-current assets				21		596			74					691
Total	$	1,075		$	5,705	$	7,484		$	4,788	$	(11,020	)	$	8,032

Liabilities and equity
Current liabilities
Short-term debt				$	1	$	13		$	349				$	363
Current maturities of long-term debt				37		55			80					172
Accounts payable and accrued liabilities	$	15		17		1,052			1,091					2,175
Intercompany payables						48			101		$	(149	)
Total current liabilities	15			55		1,168			1,621		(149		)	2,710

Long-term debt, excluding current maturities				1,096		2,406			216					3,718
Long-term intercompany debt	1,166			2,331		1,620			928		(6,045		)
Postretirement and pension liabilities						964			20					984
Other non-current liabilities				8		252			185					445
Commitments and contingent liabilities
Noncontrolling interests									281					281
Crown Holdings shareholders’ equity/(deficit)	(106		)	2,215		1,074			1,537		(4,826		)	(106		)
Total equity/(deficit)	(106		)	2,215		1,074			1,818		(4,826		)	175
Total	$	1,075		$	5,705	$	7,484		$	4,788	$	(11,020	)	$	8,032

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 STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2013

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	13		$	(46	)	$	(137	)	$	46					$	(124	)
Cash flows from investing activities
Capital expenditures							(52		)	(129		)				(181		)
Insurance proceeds										8						8
Change in restricted cash										(5		)				(5		)
Proceeds from sale of property, plant and equipment							4			2						6
Intercompany investing activities				(39		)	83						$	(44	)	—
Other							10			(16		)				(6		)
Net cash provided by/(used for) investing activities	—			(39		)	45			(140		)	(44		)	(178		)
Cash flows from financing activities
Proceeds from long-term debt							1,000			63						1,063
Payments of long-term debt				(217		)	(729		)	(52		)				(998		)
Net change in revolving credit facility and short-term debt				298			98			88						484
Debt issue costs							(15		)							(15		)
Net change in long-term intercompany balances	271			1			(268		)	(4		)				—
Capital contribution										39			(39		)	—
Common stock issued	16															16
Common stock repurchased	(300		)													(300		)
Dividends paid										(83		)	83
Purchase of noncontrolling interests										(13		)				(13		)
Dividends paid to noncontrolling interests										(65		)				(65		)
Other				3			12									15
Net cash provided by/(used for) financing activities	(13		)	85			98			(27		)	44			187
Effect of exchange rate changes on cash and cash equivalents										1						1
Net change in cash and cash equivalents	—			—			6			(120		)	—			(114		)
Cash and cash equivalents at January 1							134			216						350
Cash and cash equivalents at September 30	$	—		$	—		$	140		$	96		$	—		$	236

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		)
Insurance proceeds										33						33
Change in restricted cash										(24		)				(24		)
Proceeds from sale of property, plant and equipment							3									3
Intercompany investing activities				35			71						$	(106	)	—
Other										(3		)				(3		)
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

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, 2013 and 2012,

•balance sheets as of September 30, 2013 and December 31, 2012, and

•statements of cash flows for the nine months ended September 30, 2013 and 2012

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, 2013

(in millions)



	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,389					$	2,389
Cost of products sold, excluding depreciation and amortization						1,961						1,961
Depreciation and amortization						34						34
Gross profit			—			394						394
Selling and administrative expense			$	2		111						113
Provision for restructuring						33						33
Asset impairments and sales			(2		)							(2		)
Net interest expense			26			31						57
Foreign exchange						(2		)				(2		)
Income/(loss) before income taxes			(26		)	221			—			195
Provision for / (benefit from) income taxes			1			66						67
Equity earnings / (loss) in affiliates	$	101	128						$	(230	)	(1		)
Net income	101		101			155			(230		)	127
Net income attributable to noncontrolling interests						(26		)				(26		)
Net income attributable to Crown Holdings	$	101	$	101		$	129		$	(230	)	$	101

Comprehensive income	$	152	$	152		$	209		$	(332	)	$	181
Comprehensive income attributable to noncontrolling interests						(29		)				(29		)
Comprehensive income attributable to Crown Holdings	$	152	$	152		$	180		$	(332	)	$	152

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
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 nine months ended September 30, 2013

(in millions)



	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,585					$	6,585
Cost of products sold, excluding depreciation and amortization			$	(16	)	5,435						5,419
Depreciation and amortization						98						98
Gross profit	—		16			1,052			—			1,068
Selling and administrative expense			3			316						319
Provision for restructuring						41						41
Asset impairments and sales			(2		)							(2		)
Loss from early extinguishment of debt						38						38
Net interest expense			77			98						175
Income/(loss) before income taxes			(62		)	559						497
Provision for / (benefit from) income taxes						146						146
Equity earnings / (loss) in affiliates	$	275	337						$	(614	)	(2		)
Net income	275		275			413			(614		)	349
Net income attributable to noncontrolling interests						(74		)				(74		)
Net income attributable to Crown Holdings	$	275	$	275		$	339		$	(614	)	$	275

Comprehensive income	$	324	$	324		$	461		$	(712	)	$	397
Comprehensive income attributable to noncontrolling interests						(73		)				(73		)
Comprehensive income attributable to Crown Holdings	$	324	$	324		$	388		$	(712	)	$	324

CONDENSED CO\MBINING 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
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 COMBINING BALANCE SHEET

As of September 30, 2013

(in millions)



	Parent			Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents						$	236				$	236
Receivables, net				$	1	1,458					1,459
Inventories						1,331					1,331
Prepaid expenses and other current assets	$	1		80		137					218
Total current assets	1			81		3,162					3,244

Intercompany debt receivables						2,058		$	(2,058	)
Investments	1,074			2,099				(3,173		)
Goodwill						2,010					2,010
Property, plant and equipment, net						2,087					2,087
Other non-current assets				501		190					691
Total	$	1,075		$	2,681	$	9,507	$	(5,231	)	$	8,032

Liabilities and equity
Current liabilities
Short-term debt						$	363				$	363
Current maturities of long-term debt						172					172
Accounts payable and accrued liabilities	$	15		$	35	2,125					2,175
Total current liabilities	15			35		2,660					2,710

Long-term debt, excluding current maturities				412		3,306					3,718
Long-term intercompany debt	1,166			892				$	(2,058	)
Postretirement and pension liabilities						984					984
Other non-current liabilities				268		177					445
Commitments and contingent liabilities
Noncontrolling interests						281					281
Crown Holdings shareholders’ equity/(deficit)	(106		)	1,074		2,099		(3,173		)	(106		)
Total equity/(deficit)	(106		)	1,074		2,380		(3,173		)	175
Total	$	1,075		$	2,681	$	9,507	$	(5,231	)	$	8,032

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 STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2013

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provide by/(used for) operating activities	$	13		$	(86	)	$	(51	)				$	(124	)
Cash flows from investing activities
Capital expenditures							(181		)				(181		)
Insurance proceeds							8						8
Change in restricted cash							(5		)				(5		)
Proceeds from sale of property, plant and equipment							6						6
Intercompany investing activities				56						$	(56	)	—
Other				10			(16		)				(6		)
Net cash provided by/(used for) investing activities	—			66			(188		)	(56		)	(178		)
Cash flows from financing activities
Proceeds from long-term debt							1,063						1,063
Payments of long-term debt							(998		)				(998		)
Net change in revolving credit facility and short-term debt							484						484
Debt issue costs							(15		)				(15		)
Net change in long-term intercompany balances	271			20			(291		)				—
Common stock issued	16												16
Common stock repurchased	(300		)										(300		)
Dividends paid							(56		)	56
Purchase of noncontrollling interests							(13		)				(13		)
Dividend paid to noncontrolling interests							(65		)				(65		)
Other							15						15
Net cash provided by/(used for) financing activities	(13		)	20			124			56			187
Effect of exchange rate changes on cash and cash equivalents							1						1
Net change in cash and cash equivalents	—			—			(114		)	—			(114		)
Cash and cash equivalents at January 1							350						350
Cash and cash equivalents at September 30	$	—		$	—		$	236		$	—		$	236

ONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2012

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	11		$	(157	)	$	29					$	(117	)
Cash flows from investing activities
Capital expenditures							(214		)				(214		)
Insurance proceeds							33						33
Change in restricted cash							(24		)				(24		)
Proceeds from sale of property, plant and equipment							3						3
Intercompany investing activities				57						$	(57	)	—
Other							(3		)				(3		)
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

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 $700 principal amount of 6.25% senior notes due 2021 and $1,000 principal amount of 4.5% senior notes due 2023, 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, 2013 and 2012,


•	balance sheets as of September 30, 2013 and December 31, 2012, and


•	statements of cash flows for the nine months ended September 30, 2013 and 2012

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, 2013

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	595		$	1,794					$	2,389
Cost of products sold, excluding depreciation and amortization			$	(1	)	468			1,494						1,961
Depreciation and amortization						9			25						34
Gross profit			1			118			275						394
Selling and administrative expense			3			51			59						113
Provision for restructuring									33						33
Asset impairments and sales						(2		)							(2		)
Net interest expense			11			22			24						57
Technology royalty						(16		)	16
Foreign exchange									(2		)				(2		)
Income/(loss) before income taxes			(13		)	63			145						195
Provision for / (benefit from) income taxes			(5		)	32			40						67
Equity earnings / (loss) in affiliates	$	101	65			70						$	(237	)	(1		)
Net income	101		57			101			105			(237		)	127
Net income attributable to noncontrolling interests									(26		)				(26		)
Net income attributable to Crown Holdings	$	101	$	57		$	101		$	79		$	(237	)	$	101

Comprehensive income	$	152	$	61		$	152		$	157		$	(341	)	$	181
Comprehensive income attributable to noncontrolling interests									(29		)				(29		)
Comprehensive income attributable to Crown Holdings	$	152	$	61		$	152		$	128		$	(341	)	$	152

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			(1		)	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
Foreign exchange									(2		)				(2		)
Income/(loss) before income taxes			(16		)	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		186			325			137			(629		)	344
Net income attributable to noncontrolling interests									(19		)				(19		)
Net income attributable to Crown Holdings	$	325	$	186		$	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 nine months ended September 30, 2013

(in millions)



	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,709		$	4,876					$	6,585
Cost of products sold, excluding depreciation and amortization			$	(1	)	1,331			4,089						5,419
Depreciation and amortization						22			76						98
Gross profit			1			356			711						1,068
Selling and administrative expense			7			122			190						319
Provision for restructuring						4			37						41
Asset impairments and sales						(2		)							(2		)
Loss from early extinguishment of debt			37						1						38
Net interest expense			35			68			72						175
Technology royalty						(38		)	38
Income/(loss) before income taxes			(78		)	202			373						497
Provision for / (benefit from) income taxes			(30		)	99			77						146
Equity earnings / (loss) in affiliates	$	275	189			172						$	(638	)	(2		)
Net income	275		141			275			296			(638		)	349
Net income attributable to noncontrolling interests									(74		)				(74		)
Net income attributable to Crown Holdings	$	275	$	141		$	275		$	222		$	(638	)	$	275

Comprehensive income	$	324	$	152		$	324		$	335		$	(738	)	$	397
Comprehensive income attributable to noncontrolling interests									(73		)				(73		)
Comprehensive income attributable to Crown Holdings	$	324	$	152		$	324		$	262		$	(738	)	$	324

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			(1		)	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
Foreign exchange									(4		)				(4		)
Income/(loss) before income taxes			(45		)	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		284			528			346			(1,095		)	591
Net income attributable to noncontrolling interests									(63		)				(63		)
Net income attributable to Crown Holdings	$	528	$	284		$	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 BALANCE SHEET

As of September 30, 2013

(in millions)



	Parent			Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents				$	21	—		$	215				$	236
Receivables, net						$	9	1,450					1,459
Intercompany receivables						42		27		$	(69	)
Inventories						283		1,048					1,331
Prepaid expenses and other current assets	$	1		1		88		128					218
Total current assets	1			22		422		2,868		(69		)	3,244

Intercompany debt receivables				1,642		1,841		24		(3,507		)
Investments	1,074			1,740		759				(3,573		)
Goodwill						453		1,557					2,010
Property, plant and equipment, net				1		307		1,779					2,087
Other non-current assets				28		478		185					691
Total	$	1,075		$	3,433	$	4,260	$	6,413	$	(7,149	)	$	8,032

Liabilities and equity
Current liabilities
Short-term debt								$	363				$	363
Current maturities of long-term debt				$	55			117					172
Accounts payable and accrued liabilities	$	15		25		$	350	1,785					2,175
Intercompany payables						27		42		$	(69	)
Total current liabilities	15			80		377		2,307		(69		)	2,710

Long-term debt, excluding current maturities				1,951		412		1,355					3,718
Long-term intercompany debt	1,166			536		1,611		194		(3,507		)
Postretirement and pension liabilities						519		465					984
Other non-current liabilities						267		178					445
Commitments and contingent liabilities
Noncontrolling interests								281					281
Crown Holdings shareholders’ equity/(deficit)	(106		)	866		1,074		1,633		(3,573		)	(106		)
Total equity/(deficit)	(106		)	866		1,074		1,914		(3,573		)	175
Total	$	1,075		$	3,433	$	4,260	$	6,413	$	(7,149	)	$	8,032

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 STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2013

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	13		$	(35	)	$	140		$	(242	)				$	(124	)
Cash flows from investing activities
Capital expenditures							(23		)	(158		)				(181		)
Insurance proceeds										8						8
Change in restricted cash										(5		)				(5		)
Proceeds from sale of property, plant and equipment							4			2						6
Intercompany investing activities				20			61						$	(81	)
Other							10			(16		)				(6		)
Net cash provided by/(used for) investing activities				20			52			(169		)	(81		)	(178		)
Cash flows from financing activities
Proceeds from long-term debt				1,000						63						1,063
Payments of long-term debt				(729		)				(269		)				(998		)
Net change in revolving credit facility and short-term debt				85						399						484
Debt issue costs				(15		)										(15		)
Net change in long-term intercompany balances	271			(332		)	(193		)	254
Common stock issued	16															16
Common stock repurchased	(300		)													(300		)
Dividends paid										(81		)	81
Purchase of noncontrolling interests										(13		)				(13		)
Dividends paid to noncontrolling interests										(65		)				(65		)
Other										15						15
Net cash provided by/(used for) financing activities	(13		)	9			(193		)	303			81			187
Effect of exchange rate changes on cash and cash equivalents										1						1
Net change in cash and cash equivalents	—			(6		)	(1		)	(107		)	—			(114		)
Cash and cash equivalents at January 1				27			1			322						350
Cash and cash equivalents at September 30	$	—		$	21		$	—		$	215		$	—		$	236

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		)
Insurance Proceeds										33						33
Change in restricted cash										(24		)				(24		)
Proceeds from sale of property, plant and equipment							1			2						3
Intercompany investing activities				10			57						$	(67	)	—
Other										(3		)				(3		)
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