Condensed Combining Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Crown Cork & Seal Company, Inc [Member]

Condensed Combining Statement of Comprehensive Income

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2015 (in millions)
	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	8,762					$	8,762
Cost of products sold, excluding depreciation and amortization						7,116						7,116
Depreciation and amortization						237						237
Selling and administrative expense			$	10		380						390
Provision for asbestos			26									26
Restructuring and other			(1		)	67						66
Income from operations			(35		)	962						927
Loss from early extinguishments of debt						9						9
Net interest expense			100			159						259
Foreign exchange						20						20
Income/(loss) before income taxes			(135		)	774						639
Provision for / (benefit from) income taxes			(35		)	213						178
Equity earnings in affiliates	$	393	385						$	(778	)	—
Net income	393		285			561			(778		)	461
Net income attributable to noncontrolling interests						(68		)				(68		)
Net income attributable to Crown Holdings	$	393	$	285		$	493		$	(778	)	$	393
Total comprehensive income	$	4	$	3		$	168		$	(107	)	$	68
Comprehensive income attributable to noncontrolling interests						(64		)				(64		)
Comprehensive income attributable to Crown Holdings	$	4	$	3		$	104		$	(107	)	$	4

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2014 (in millions)
	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	9,097					$	9,097
Cost of products sold, excluding depreciation and amortization						7,525						7,525
Depreciation and amortization						190						190
Selling and administrative expense			$	10		388						398
Provision for asbestos			45									45
Restructuring and other			14			115						129
Income from operations			(69		)	879						810
Loss from early extinguishments of debt						34						34
Net interest expense			93			153						246
Foreign exchange						14						14
Income/(loss) before income taxes			(162		)	678						516
Provision for / (benefit from) income taxes			(26		)	67						41
Equity earnings in affiliates	$	387	500						$	(887	)	—
Net income	387		364			611			(887		)	475
Net income attributable to noncontrolling interests						(88		)				(88		)
Net income attributable to Crown Holdings	$	387	$	364		$	523		$	(887	)	$	387
Total comprehensive income	$	135	$	112		$	360		$	(383	)	$	224
Comprehensive income attributable to noncontrolling interests						(89		)				(89		)
Comprehensive income attributable to Crown Holdings	$	135	$	112		$	271		$	(383	)	$	135

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2013 (in millions)
	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	8,656					$	8,656
Cost of products sold, excluding depreciation and amortization			$	(16	)	7,196						7,180
Depreciation and amortization						134						134
Selling and administrative expense			6			419						425
Provision for asbestos			32									32
Restructuring and other			(2		)	36						34
Income from operations			(20		)	871						851
Loss from early extinguishments of debt						41						41
Net interest expense			101			130						231
Foreign exchange						3						3
Income/(loss) before income taxes			(121		)	697						576
Provision for / (benefit from) income taxes			(28		)	176						148
Equity earnings in affiliates	$	324	417						$	(741	)	—
Net income	324		324			521			(741		)	428
Net income attributable to noncontrolling interests						(104		)				(104		)
Net income attributable to Crown Holdings	$	324	$	324		$	417		$	(741	)	$	324
Total comprehensive income	$	425	$	425		$	620		$	(943	)	$	527
Comprehensive income attributable to noncontrolling interests						(102		)				(102		)
Comprehensive income attributable to Crown Holdings	$	425	$	425		$	518		$	(943	)	$	425

Condensed Combining Balance Sheet

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	717				$	717
Receivables, net					912					912
Inventories					1,213					1,213
Prepaid expenses and other current assets			$	2	205					207
Total current assets			2		3,047					3,049
Intercompany debt receivables					3,654		$	(3,654	)	—
Investments	$	2,937	2,490				(5,427		)	—
Goodwill and intangible assets					3,580					3,580
Property, plant and equipment, net					2,699					2,699
Other non-current assets			430		262					692
Total	$	2,937	$	2,922	$	13,242	$	(9,081	)	$	10,020
Liabilities and equity
Current liabilities
Short-term debt					$	54				$	54
Current maturities of long-term debt					209					209
Accounts payable and accrued liabilities	$	24	$	41	2,580					2,645
Total current liabilities	24		41		2,843					2,908
Long-term debt, excluding current maturities			391		4,864					5,255
Long-term intercompany debt	2,769		885				$	(3,654	)	—
Postretirement and pension liabilities					767					767
Other non-current liabilities			309		346					655
Commitments and contingent liabilities
Noncontrolling interests					291					291
Crown Holdings shareholders’ equity	144		1,296		4,131		(5,427		)	144
Total equity	144		1,296		4,422		(5,427		)	435
Total	$	2,937	$	2,922	$	13,242	$	(9,081	)	$	10,020

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	965				$	965
Receivables, net					1,031					1,031
Inventories					1,324					1,324
Prepaid expenses and other current assets	$	1	$	69	181					251
Assets held for sale					48					48
Total current assets	1		69		3,549					3,619
Intercompany debt receivables					2,885		$	(2,885	)	—
Investments	2,199		2,350				(4,549		)	—
Goodwill and intangible assets					2,926					2,926
Property, plant and equipment, net					2,437					2,437
Other non-current assets			394		267					661
Total	$	2,200	$	2,813	$	12,064	$	(7,434	)	$	9,643
Liabilities and equity
Current liabilities
Short-term debt					$	75				$	75
Current maturities of long-term debt					175					175
Accounts payable and accrued liabilities	$	20	$	35	2,596					2,651
Liabilities related to assets held for sale					23					23
Total current liabilities	20		35		2,869					2,924
Long-term debt, excluding current maturities			409		4,535					4,944
Long-term intercompany debt	2,061		824				$	(2,885	)	—
Postretirement and pension liabilities					871					871
Other non-current liabilities			310		207					517
Commitments and contingent liabilities
Noncontrolling interests					268					268
Crown Holdings shareholders’ equity	119		1,235		3,314		(4,549		)	119
Total equity	119		1,235		3,582		(4,549		)	387
Total	$	2,200	$	2,813	$	12,064	$	(7,434	)	$	9,643

Condensed Combining Statement of Cash Flows

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	33		$	(65	)	$	988					$	956
Cash flows from investing activities
Capital expenditures							(354		)				(354		)
Acquisition of businesses, net of cash acquired							(1,207		)				(1,207		)
Proceeds from sale of businesses, net of cash sold							33						33
Proceeds from sale of property, plant and equipment							7						7
Intercompany investing activities	(738		)	21			738			$	(21	)	—
Net investment hedge settlements							(11		)				(11		)
Other							(16		)				(16		)
Net cash provided by/(used for) investing activities	(738		)	21			(810		)	(21		)	(1,548		)
Cash flows from financing activities
Proceeds from long-term debt							1,435						1,435
Payments of long-term debt				(17		)	(883		)				(900		)
Net change in revolving credit facility and short-term debt							(7		)				(7		)
Net change in long-term intercompany balances	708			61			(769		)				—
Debt issuance costs							(18		)				(18		)
Common stock issued	6												6
Common stock repurchased	(9		)										(9		)
Dividends paid							(21		)	21			—
Dividend paid to noncontrolling interests							(48		)				(48		)
Contribution from noncontrolling interests							5						5
Foreign exchange derivatives related to debt							(58		)				(58		)
Net cash provided by/(used for) financing activities	705			44			(364		)	21			406
Effect of exchange rate changes on cash and cash equivalents							(62		)				(62		)
Net change in cash and cash equivalents	—			—			(248		)	—			(248		)
Cash and cash equivalents at January 1							965						965
Cash and cash equivalents at December 31	$	—		$	—		$	717		$	—		$	717

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	25		$	(130	)	$	1,017					$	912
Cash flows from investing activities
Capital expenditures							(328		)				(328		)
Acquisition of businesses, net of cash acquired							(733		)				(733		)
Proceeds from sale of businesses, net of cash sold							22						22
Proceeds from sale of property, plant and equipment							16						16
Intercompany investing activities	(941		)	56			941			$	(56	)	—
Other							2						2
Net cash provided by/(used for) investing activities	(941		)	56			(80		)	(56		)	(1,021		)
Cash flows from financing activities
Proceeds from long-term debt							2,742						2,742
Payments of long-term debt							(1,752		)				(1,752		)
Net change in revolving credit facility and short-term debt							(319		)				(319		)
Net change in long-term intercompany balances	904			74			(978		)				—
Debt issuance costs							(41		)				(41		)
Common stock issued	14												14
Common stock repurchased	(2		)										(2		)
Dividends paid							(56		)	56			—
Purchase of noncontrolling interests							(93		)				(93		)
Dividend paid to noncontrolling interests							(77		)				(77		)
Foreign exchange derivatives related to debt							(27		)				(27		)
Net cash provided by/(used for) financing activities	916			74			(601		)	56			445
Effect of exchange rate changes on cash and cash equivalents							(60		)				(60		)
Net change in cash and cash equivalents	—			—			276			—			276
Cash and cash equivalents at January 1							689						689
Cash and cash equivalents at December 31	$	—		$	—		$	965		$	—		$	965

CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2013 (in millions)
	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	16		$	37		$	832					$	885
Cash flows from investing activities
Capital expenditures							(275		)				(275		)
Acquisition of businesses, net of cash acquired							(16		)				(16		)
Proceeds from sale of business, net of cash sold				10									10
Proceeds from sale of property, plant and equipment							29						29
Intercompany investing activities				77						$	(77	)	—
Other							6						6
Net cash provided by/(used for) investing activities				87			(256		)	(77		)	(246		)
Cash flows from financing activities
Proceeds from long-term debt							1,083						1,083
Payments of long-term debt							(1,022		)				(1,022		)
Net change in revolving credit facility and short-term debt							18						18
Net change in long-term intercompany balances	263			(124		)	(139		)				—
Debt issuance costs							(32		)				(32		)
Common stock issued	21												21
Common stock repurchased	(300		)										(300		)
Dividends paid							(77		)	77			—
Purchase of noncontrolling interests							(16		)				(16		)
Dividend paid to noncontrolling interests							(78		)				(78		)
Foreign exchange derivatives related to debt							20						20
Net cash provided by/(used for) financing activities	(16		)	(124		)	(243		)	77			(306		)
Effect of exchange rate changes on cash and cash equivalents							6						6
Net change in cash and cash equivalents	—			—			339			—			339
Cash and cash equivalents at January 1							350						350
Cash and cash equivalents at December 31	$	—		$	—		$	689		$	—		$	689

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

Condensed Combining Statement of Comprehensive Income

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2015 (in millions)
	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,013		$	6,749					$	8,762
Cost of products sold, excluding depreciation and amortization						1,611			5,505						7,116
Depreciation and amortization						32			205						237
Selling and administrative expense			$	9		153			228						390
Provision for asbestos						26									26
Restructuring and other						7			59						66
Income from operations			(9		)	184			752						927
Loss from early extinguishments of debt			9												9
Net interest expense			91			90			78						259
Technology royalty						(42		)	42						—
Foreign exchange			(8		)	3			17			$	8		20
Income/(loss) before income taxes			(101		)	133			615			(8		)	639
Provision for / (benefit from) income taxes			(38		)	79			140			(3		)	178
Equity earnings in affiliates	$	393	183			231						(807		)	—
Net income	393		120			285			475			(812		)	461
Net income attributable to noncontrolling interests									(68		)				(68		)
Net income attributable to Crown Holdings	$	393	$	120		$	285		$	407		$	(812	)	$	393
Total comprehensive income	$	4	$	146		$	64		$	46		$	(192	)	$	68
Comprehensive income attributable to noncontrolling interests									(64		)				(64		)
Comprehensive income attributable to Crown Holdings	$	4	$	146		$	64		$	(18	)	$	(192	)	$	4

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2014 (in millions)
	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,154		$	6,943					$	9,097
Cost of products sold, excluding depreciation and amortization						1,725			5,800						7,525
Depreciation and amortization						31			159						190
Selling and administrative expense			$	9		144			245						398
Provision for asbestos						45									45
Restructuring and other			5			44			80						129
Income from operations			(14		)	165			659						810
Loss from early extinguishments of debt									34						34
Net interest expense			58			90			98						246
Technology royalty						(48		)	48						—
Foreign exchange									14						14
Income/(loss) before income taxes			(72		)	123			465						516
Provision for / (benefit from) income taxes			(27		)	86			(18		)				41
Equity earnings in affiliates	$	387	222			327						$	(936	)	—
Net income	387		177			364			483			(936		)	475
Net income attributable to noncontrolling interests									(88		)				(88		)
Net income attributable to Crown Holdings	$	387	$	177		$	364		$	395		$	(936	)	$	387
Total comprehensive income	$	135	$	67		$	112		$	340		$	(430	)	$	224
Comprehensive income attributable to noncontrolling interests									(89		)				(89		)
Comprehensive income attributable to Crown Holdings	$	135	$	67		$	112		$	251		$	(430	)	$	135

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2013 (in millions)
	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,214		$	6,442					$	8,656
Cost of products sold, excluding depreciation and amortization						1,746			5,434						7,180
Depreciation and amortization						29			105						134
Selling and administrative expense			$	9		154			262						425
Provision for asbestos						32									32
Restructuring and other						2			32						34
Income from operations			(9		)	251			609						851
Loss from early extinguishments of debt			39						2						41
Net interest expense			46			91			94						231
Technology royalty						(48		)	48						—
Foreign exchange									3						3
Income/(loss) before income taxes			(94		)	208			462						576
Provision for / (benefit from) income taxes			(36		)	100			84						148
Equity earnings in affiliates	$	324	247			216						$	(787	)	—
Net income	324		189			324			378			(787		)	428
Net income attributable to noncontrolling interests									(104		)				(104		)
Net income attributable to Crown Holdings	$	324	$	189		$	324		$	274		$	(787	)	$	324
Total comprehensive income	$	425	$	332		$	425		$	336		$	(991	)	$	527
Comprehensive income attributable to noncontrolling interests									(102		)				(102		)
Comprehensive income attributable to Crown Holdings	$	425	$	332		$	425		$	234		$	(991	)	$	425

Condensed Combining Balance Sheet

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	104			$	613				$	717
Receivables, net					$	23	889					912
Intercompany receivables					30		2		$	(32	)	—
Inventories					291		922					1,213
Prepaid expenses and other current assets			2		7		198					207
Total current assets			106		351		2,624		(32		)	3,049
Intercompany debt receivables			3,111		3,471		681		(7,263		)	—
Investments	$	2,937	2,199		804				(5,940		)	—
Goodwill and intangible assets					471		3,109					3,580
Property, plant and equipment, net			1		390		2,308					2,699
Other non-current assets			6		457		229					692
Total	$	2,937	$	5,423	$	5,944	$	8,951	$	(13,235	)	$	10,020
Liabilities and equity
Current liabilities
Short-term debt							$	54				$	54
Current maturities of long-term debt			$	90			119					209
Accounts payable and accrued liabilities	$	24	47		$	526	2,048					2,645
Intercompany payables					2		30		$	(32	)	—
Total current liabilities	24		137		528		2,251		(32		)	2,908
Long-term debt, excluding current maturities			2,759		391		2,105					5,255
Long-term intercompany debt	2,769		1,268		3,041		185		(7,263		)	—
Postretirement and pension liabilities					377		390					767
Other non-current liabilities					311		344					655
Commitments and contingent liabilities
Noncontrolling interests							291					291
Crown Holdings shareholders’ equity	144		1,259		1,296		3,385		(5,940		)	144
Total equity	144		1,259		1,296		3,676		(5,940		)	435
Total	$	2,937	$	5,423	$	5,944	$	8,951	$	(13,235	)	$	10,020

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	128			$	837				$	965
Receivables, net					$	18	1,013					1,031
Intercompany receivables					20		11		$	(31	)	—
Inventories					291		1,033					1,324
Prepaid expenses and other current assets	$	1	4		75		171					251
Assets held for sale							48					48
Total current assets	1		132		404		3,113		(31		)	3,619
Intercompany debt receivables			2,415		2,640		27		(5,082		)	—
Investments	2,199		2,005		850				(5,054		)	—
Goodwill and intangible assets					473		2,453					2,926
Property, plant and equipment, net			1		328		2,108					2,437
Other non-current assets			8		411		242					661
Total	$	2,200	$	4,561	$	5,106	$	7,943	$	(10,167	)	$	9,643
Liabilities and equity
Current liabilities
Short-term debt							$	75				$	75
Current maturities of long-term debt					$	43	132					175
Accounts payable and accrued liabilities	$	20	$	49	480		2,102					2,651
Intercompany payables					11		20		$	(31	)	—
Liabilities related to assets held for sale							23					23
Total current liabilities	20		49		534		2,352		(31		)	2,924
Long-term debt, excluding current maturities			2,815		367		1,762					4,944
Long-term intercompany debt	2,061		584		2,199		238		(5,082		)	—
Postretirement and pension liabilities					464		407					871
Other non-current liabilities					307		210					517
Commitments and contingent liabilities
Noncontrolling interests							268					268
Crown Holdings shareholders’ equity	119		1,113		1,235		2,706		(5,054		)	119
Total equity	119		1,113		1,235		2,974		(5,054		)	387
Total	$	2,200	$	4,561	$	5,106	$	7,943	$	(10,167	)	$	9,643

Condensed Combining Statement of Cash Flows

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	33		$	(34	)	$	6		$	951					$	956
Cash flows from investing activities
Capital expenditures							(80		)	(274		)				(354		)
Acquisition of businesses, net of cash acquired										(1,207		)				(1,207		)
Proceeds from sale of businesses, net of cash sold										33						33
Proceeds from sale of property, plant and equipment							2			5						7
Intercompany investing activities	(738		)	15			71			738			$	(86	)	—
Net investment hedge settlements				(11		)										(11		)
Other				—			(10		)	(6		)				(16		)
Net cash provided by/(used for) investing activities	(738		)	4			(17		)	(711		)	(86		)	(1,548		)
Cash flows from financing activities
Proceeds from long-term debt				750						685						1,435
Payments of long-term debt				(722		)				(178		)				(900		)
Net change in revolving credit facility and short-term debt										(7		)				(7		)
Net change in long-term intercompany balances	708			(12		)	11			(707		)				—
Debt issuance costs				(10		)				(8		)				(18		)
Common stock issued	6															6
Common stock repurchased	(9		)													(9		)
Dividends paid										(86		)	86			—
Dividends paid to noncontrolling interests										(48		)				(48		)
Contribution from noncontrolling interests										5						5
Foreign exchange derivatives related to debt										(58		)				(58		)
Net cash provided by/(used for) financing activities	705			6			11			(402		)	86			406
Effect of exchange rate changes on cash and cash equivalents										(62		)				(62		)
Net change in cash and cash equivalents	—			(24		)	—			(224		)	—			(248		)
Cash and cash equivalents at January 1				128			—			837						965
Cash and cash equivalents at December 31	$	—		$	104		$	—		$	613		$	—		$	717

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	25		$	(38	)	$	52		$	873					$	912
Cash flows from investing activities
Capital expenditures							(42		)	(286		)				(328		)
Acquisition of businesses, net of cash acquired										(733		)				(733		)
Proceeds from sale of businesses, net of cash sold										22						22
Proceeds from sale of property, plant and equipment							6			10						16
Intercompany investing activities	(941		)	24			44			954			$	(81	)	—
Other										2						2
Net cash provided by/(used for) investing activities	(941		)	24			8			(31		)	(81		)	(1,021		)
Cash flows from financing activities
Proceeds from long-term debt				942						1,800						2,742
Payments of long-term debt				(4		)				(1,748		)				(1,752		)
Net change in revolving credit facility and short-term debt										(319		)				(319		)
Net change in long-term intercompany balances	904			(949		)	14			31						—
Debt issuance costs				(24		)				(17		)				(41		)
Common stock issued	14															14
Common stock repurchased	(2		)													(2		)
Dividends paid										(81		)	81			—
Purchase of noncontrolling interests							(76		)	(17		)				(93		)
Dividends paid to noncontrolling interests										(77		)				(77		)
Foreign exchange derivatives related to debt										(27		)				(27		)
Net cash provided by/(used for) financing activities	916			(35		)	(62		)	(455		)	81			445
Effect of exchange rate changes on cash and cash equivalents										(60		)				(60		)
Net change in cash and cash equivalents	—			(49		)	(2		)	327			—			276
Cash and cash equivalents at January 1				177			2			510						689
Cash and cash equivalents at December 31	$	—		$	128		$	—		$	837		$	—		$	965

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	16		$	(18	)	$	352		$	535					$	885
Cash flows from investing activities
Capital expenditures							(37		)	(238		)				(275		)
Acquisition of businesses, net of cash acquired										(16		)				(16		)
Proceeds from sale of businesses, net of cash sold							10									10
Proceeds from sale of property, plant and equipment							4			25						29
Intercompany investing activities				32			91						$	(123	)	—
Other										6						6
Net cash provided by/(used for) investing activities				32			68			(223		)	(123		)	(246		)
Cash flows from financing activities
Proceeds from long-term debt				1,000						83						1,083
Payments of long-term debt				(730		)				(292		)				(1,022		)
Net change in revolving credit facility and short-term debt										18						18
Net change in long-term intercompany balances	263			(108		)	(419		)	264						—
Debt issuance costs				(26		)				(6		)				(32		)
Common stock issued	21															21
Common stock repurchased	(300		)													(300		)
Dividends paid										(123		)	123			—
Purchase of noncontrolling interests										(16		)				(16		)
Dividends paid to noncontrolling interests										(78		)				(78		)
Foreign exchange derivatives related to debt										20						20
Net cash provided by/(used for) financing activities	(16		)	136			(419		)	(130		)	123			(306		)
Effect of exchange rate changes on cash and cash equivalents										6						6
Net change in cash and cash equivalents	—			150			1			188			—			339
Cash and cash equivalents at January 1				27			1			322						350
Cash and cash equivalents at December 31	$	—		$	177		$	2		$	510		$	—		$	689