Condensed Combining Financial Information (Tables)

6 Months Ended

Jun. 30, 2018

Crown Cork & Seal Company Inc.

Condensed Combining Statement of Comprehensive Income

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended June 30, 2018

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net sales							$	3,046					$	3,046
Cost of products sold, excluding depreciation and amortization							2,466						2,466
Depreciation and amortization							113						113
Selling and administrative expense				$	3		156						159
Restructuring and other	$	9					7						16
Income from operations	(9		)	(3		)	304						292
Other pension and postretirement							(17		)				(17		)
Net interest expense				19			79						98
Foreign exchange							10						10
Income/(loss) before income taxes	(9		)	(22		)	232						201
Provision for / (benefit from) income taxes	(2		)	(5		)	62						55
Equity earnings / (loss) in affiliates	139			131			1			$	(270	)	1
Net income	132			114			171			(270		)	147
Net income attributable to noncontrolling interests							(15		)				(15		)
Net income attributable to Crown Holdings	$	132		$	114		$	156		$	(270	)	$	132
Total comprehensive income	$	16		$	115		$	52		$	(155	)	$	28
Comprehensive income attributable to noncontrolling interests							(12		)				(12		)
Comprehensive income attributable to Crown Holdings	$	16		$	115		$	40		$	(155	)	$	16

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended June 30, 2017

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,161					$	2,161
Cost of products sold, excluding depreciation and amortization						1,732						1,732
Depreciation and amortization						61						61
Selling and administrative expense			$	2		89						91
Restructuring and other			(1		)	19						18
Income from operations			(1		)	260						259
Other pension and postretirement						(12		)				(12		)
Loss from early extinguishment of debt						7						7
Net interest expense			26			32						58
Foreign exchange						5						5
Income/(loss) before income taxes			(27		)	228						201
Provision for / (benefit from) income taxes			(8		)	61						53
Equity earnings / (loss) in affiliates	$	128	130						$	(258	)	—
Net income	128		111			167			(258		)	148
Net income attributable to noncontrolling interests						(20		)				(20		)
Net income attributable to Crown Holdings	$	128	$	111		$	147		$	(258	)	$	128
Total comprehensive income	$	221	$	115		$	261		$	(355	)	$	242
Comprehensive income attributable to noncontrolling interests						(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	221	$	115		$	240		$	(355	)	$	221

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the six months ended June 30, 2018

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net sales							$	5,243					$	5,243
Cost of products sold, excluding depreciation and amortization							4,274						4,274
Depreciation and amortization							178						178
Selling and administrative expense				$	5		244						249
Restructuring and other	$	9					20						29
Income from operations	(9		)	(5		)	527						513
Other pension of postretirement							(34		)				(34		)
Net interest expense				38			128						166
Foreign exchange							28						28
Income/(loss) before income taxes	(9		)	(43		)	405						353
Provision for / (benefit from) income taxes	(2		)	(9		)	105						94
Equity earnings / (loss) in affiliates	229			226			1			$	(455	)	1
Net income	222			192			301			(455		)	260
Net income attributable to noncontrolling interests							(38		)				(38		)
Net income attributable to Crown Holdings	$	222		$	192		$	263		$	(455	)	$	222
Total comprehensive income	$	166		$	162		$	243		$	(369	)	$	202
Comprehensive income attributable to noncontrolling interests							(36		)				(36		)
Comprehensive income attributable to Crown Holdings	$	166		$	162		$	207		$	(369	)	$	166

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the six months ended June 30, 2017

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	4,062					$	4,062
Cost of products sold, excluding depreciation and amortization						3,263						3,263
Depreciation and amortization						120						120
Selling and administrative expense			$	4		177						181
Restructuring and other			(1		)	15						14
Income from operations			(3		)	487						484
Other pension and postretirement						(24		)				(24		)
Loss from early extinguishment of debt						7						7
Net interest expense			46			71						117
Foreign exchange						4						4
Income/(loss) before income taxes			(49		)	429						380
Provision for / (benefit from) income taxes			(18		)	117						99
Equity earnings / (loss) in affiliates	$	235	229						$	(464	)	—
Net income	235		198			312			(464		)	281
Net income attributable to noncontrolling interests						(46		)				(46		)
Net income attributable to Crown Holdings	$	235	$	198		$	266		$	(464	)	$	235
Total comprehensive Income	$	467	$	245		$	546		$	(743	)	$	515
Comprehensive income attributable to noncontrolling interests						(48		)				(48		)
Comprehensive income attributable to Crown Holdings	$	467	$	245		$	498		$	(743	)	$	467

Condensed Combining Balance Sheet

CONDENSED COMBINING BALANCE SHEET

As of June 30, 2018

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	298				$	298
Receivables, net			$	9	1,781					1,790
Inventories					1,737					1,737
Prepaid expenses and other current assets	$	2			328					330
Total current assets	2		9		4,144					4,155
Intercompany debt receivables					3,556		$	(3,556	)	—
Investments	3,320		3,649				(6,969		)	—
Goodwill					4,443					4,443
Intangible assets, net					2,298					2,298
Property, plant and equipment, net					3,688					3,688
Other non-current assets			163		613					776
Total	$	3,322	$	3,821	$	18,742	$	(10,525	)	$	15,360
Liabilities and equity
Current liabilities
Short-term debt					$	31				$	31
Current maturities of long-term debt					84					84
Accounts payable					2,452					2,452
Accrued liabilities	$	14	$	32	916					962
Total current liabilities	14		32		3,483					3,529
Long-term debt, excluding current maturities			387		8,849					9,236
Long-term intercompany debt	2,524		1,032				$	(3,556	)	—
Postretirement and pension liabilities					614					614
Other non-current liabilities			332		512					844
Commitments and contingent liabilities
Noncontrolling interests					353					353
Crown Holdings shareholders’ equity/(deficit)	784		2,038		4,931		(6,969		)	784
Total equity/(deficit)	784		2,038		5,284		(6,969		)	1,137
Total	$	3,322	$	3,821	$	18,742	$	(10,525	)	$	15,360

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2017

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	424				$	424
Receivables, net			$	9	1,032					1,041
Inventories					1,385					1,385
Prepaid expenses and other current assets					224					224
Total current assets	—		9		3,065					3,074
Intercompany debt receivables					3,604		$	(3,604	)	—
Investments	$	3,120	$	3,448			(6,568		)	—
Goodwill					3,046					3,046
Intangible assets, net					472					472
Property, plant and equipment, net					3,239					3,239
Other non-current assets			283		549					832
Total	$	3,120	$	3,740	$	13,975	$	(10,172	)	$	10,663
Liabilities and equity
Current liabilities
Short-term debt					$	62				$	62
Current maturities of long-term debt					64					64
Accounts payable					2,367					2,367
Accrued liabilities	$	22	$	41	694					757
Total current liabilities	22		41		3,187					3,250
Long-term debt, excluding current maturities			387		4,830					5,217
Long-term intercompany debt	2,497		1,107				$	(3,604	)	—
Postretirement and pension liabilities					588					588
Other non-current liabilities			336		349					685
Commitments and contingent liabilities
Noncontrolling interests					322					322
Crown Holdings shareholders’ equity/(deficit)	601		1,869		4,699		(6,568		)	601
Total equity/(deficit)	601		1,869		5,021		(6,568		)	923
Total	$	3,120	$	3,740	$	13,975	$	(10,172	)	$	10,663

Condensed Combining Statement of Cash Flows

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the six months ended June 30, 2018

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	(24	)	$	(44	)	$	(423	)	$	(1	)	$	(492	)
Cash flows from investing activities
Capital expenditures							(200		)				(200		)
Beneficial interests in transferred receivables							335						335
Acquisition of businesses, net of cash acquired							(3,907		)				(3,907		)
Proceeds from sale of property, plant and equipment							5						5
Other							(25		)				(25		)
Net cash provided by/(used for) investing activities	—						(3,792		)	—			(3,792		)
Cash flows from financing activities
Proceeds from long-term debt							4,082						4,082
Payments of long-term debt							(37		)				(37		)
Net change in revolving credit facility and short-term debt							201						201
Net change in long-term intercompany balances	27			44			(71		)				—
Debt issue costs							(70		)				(70		)
Common stock issued	1												1
Common stock repurchased	(4		)										(4		)
Dividends paid							(1		)	1			—
Dividend paid to noncontrolling interests							(6		)				(6		)
Foreign exchange derivatives related to debt							(5		)				(5		)
Net cash provided by/(used for) financing activities	24			44			4,093			1			4,162
Effect of exchange rate changes on cash, cash equivalents and restricted cash							(6		)				(6		)
Net change in cash, cash equivalents and restricted cash	—			—			(128		)	—			(128		)
Cash, cash equivalents and restricted cash at January 1							435						435
Cash, cash equivalents and restricted cash at June 30	$	—		$	—		$	307		$	—		$	307

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the six months ended June 30, 2017

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	(13	)	$	(41	)	$	(413	)	$	(8	)	$	(475	)
Cash flows from investing activities
Capital expenditures							(200		)				(200		)
Beneficial interests in transferred receivables							507						507
Proceeds from sale of property, plant and equipment							5						5
Intercompany investing activities	235									(235		)	—
Net cash provided by/(used for) investing activities	235						312			(235		)	312
Cash flows from financing activities
Proceeds from long-term debt							1,053						1,053
Payments of long-term debt							(1,103		)				(1,103		)
Net change in revolving credit facility and short-term debt							249						249
Net change in long-term intercompany balances	47			41			(88		)				—
Debt issue costs							(15		)				(15		)
Common stock issued	8												8
Common stock repurchased	(277		)										(277		)
Dividends paid							(243		)	243			—
Dividend paid to noncontrolling interests							(37		)				(37		)
Foreign exchange derivatives related to debt							11						11
Net cash provided by/(used for) financing activities	(222		)	41			(173		)	243			(111		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash							11						11
Net change in cash, cash equivalents and restricted cash	—			—			(263		)	—			(263		)
Cash, cash equivalents and restricted cash at January 1							576						576
Cash, cash equivalents and restricted cash at June 30	$	—		$	—		$	313		$	—		$	313

Crown Americas, LLC

Condensed Combining Statement of Comprehensive Income

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended June 30, 2018

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales							$	975		$	2,224		(153		)	$	3,046
Cost of products sold, excluding depreciation and amortization							834			1,785			(153		)	2,466
Depreciation and amortization							32			81						113
Selling and administrative expense				$	3		63			93						159
Restructuring and other	$	9					3			4						16
Income from operations	(9		)	(3		)	43			261						292
Other pension and postretirement							(6		)	(11		)				(17		)
Net interest expense				22			33			43						98
Technology royalty							(12		)	12						—
Foreign exchange				(49		)				11			$	48		10
Income/(loss) before income taxes	(9		)	24			28			206			(48		)	201
Provision for / (benefit from) income taxes	(2		)	6			8			54			(11		)	55
Equity earnings / (loss) in affiliates	139			46			94						(278		)	1
Net income	132			64			114			152			(315		)	147
Net income attributable to noncontrolling interests										(15		)				(15		)
Net income attributable to Crown Holdings	$	132		$	64		$	114		$	137		$	(315	)	$	132
Total comprehensive income	$	16		$	69		$	115		$	(9	)	$	(163	)	$	28
Comprehensive income attributable to noncontrolling interests										(12		)				(12		)
Comprehensive income attributable to Crown Holdings	$	16		$	69		$	115		$	(21	)	$	(163	)	$	16

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended June 30, 2017

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	583		$	1,661		(83		)	$	2,161
Cost of products sold, excluding depreciation and amortization						501			1,314			(83		)	1,732
Depreciation and amortization						10			51						61
Selling and administrative expense			$	3		35			53						91
Restructuring and other						1			17						18
Income from operations			(3		)	36			226						259
Other pension and postretirement						(10		)	(2		)				(12		)
Loss from early extinguishment of debt			6						1						7
Net interest expense			16			23			19						58
Technology royalty						(9		)	9						—
Foreign exchange			45			(1		)	6			$	(45	)	5
Income/(loss) before income taxes			(70		)	33			193			45			201
Provision for / (benefit from) income taxes			(27		)	12			53			15			53
Equity earnings / (loss) in affiliates	$	128	51			90						(269		)	—
Net income	128		8			111			140			(239		)	148
Net income attributable to noncontrolling interests									(20		)				(20		)
Net income attributable to Crown Holdings	$	128	$	8		$	111		$	120		$	(239	)	$	128
Total comprehensive income	$	221	$	11		$	115		$	271		$	(376	)	$	242
Comprehensive income attributable to noncontrolling interests									(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	221	$	11		$	115		$	250		$	(376	)	$	221

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the six months ended June 30, 2018

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales							$	1,577		$	3,916		(250		)	5,243
Cost of products sold, excluding depreciation and amortization							1,354			3,170			(250		)	4,274
Depreciation and amortization							43			135						178
Selling and administrative expense				$	5		96			148						249
Restructuring and other	$	9		3			5			12						29
Income from operations	(9		)	(8		)	79			451						513
Other pension and postretirement							(11		)	(23		)				(34		)
Net interest expense				45			54			67						166
Technology royalty							(23		)	23						—
Foreign exchange				7			(1		)	30			$	(8	)	28
Income/(loss) before income taxes	(9		)	(60		)	60			354			8			353
Provision for / (benefit from) income taxes	(2		)	(14		)	17			91			2			94
Equity earnings / (loss) in affiliates	229			102			149						(479		)	1
Net income	222			56			192			263			(473		)	260
Net income attributable to noncontrolling interests										(38		)				(38		)
Net income attributable to Crown Holdings	222			56			192			225			(473		)	222
Total comprehensive Income	$	166		$	62		$	162		$	205		$	(393	)	$	202
Comprehensive income attributable to noncontrolling interests										(36		)				(36		)
Comprehensive income attributable to Crown Holdings	$	166		$	62		$	162		$	169		$	(393	)	$	166

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the six months ended June 30, 2017

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,132		$	3,127		(197		)	$	4,062
Cost of products sold, excluding depreciation and amortization						976			2,484			(197		)	3,263
Depreciation and amortization						20			100						120
Selling and administrative expense			$	5		68			108						181
Restructuring and other						2			12						14
Income from operations			(5		)	66			423						484
Other pension and postretirement						(20		)	(4		)				(24		)
Loss from early extinguishment of debt			6						1						7
Net interest expense			33			44			40						117
Technology royalty						(18		)	18						—
Foreign exchange			55			(1		)	5			$	(55	)	4
Income/(loss) before income taxes			(99		)	61			363			55			380
Provision for / (benefit from) income taxes			(38		)	20			98			19			99
Equity earnings / (loss) in affiliates	$	235	100			157						(492		)	—
Net income	235		39			198			265			(456		)	281
Net income attributable to noncontrolling interests									(46		)				(46		)
Net income attributable to Crown Holdings	$	235	$	39		$	198		$	219		$	(456	)	$	235
Total comprehensive income	$	467	$	46		$	245		$	542		$	(785	)	$	515
Comprehensive income attributable to noncontrolling interests									(48		)				(48		)
Comprehensive income attributable to Crown Holdings	$	467	$	46		$	245		$	494		$	(785	)	$	467

Condensed Combining Balance Sheet

CONDENSED COMBINING BALANCE SHEET

As of June 30, 2018

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	18	$	1	$	279				$	298
Receivables, net			9		195		1,586					1,790
Intercompany receivables					45		21		$	(66	)	—
Inventories					461		1,276					1,737
Prepaid expenses and other current assets	$	2	1		19		308					330
Total current assets	2		28		721		3,470		(66		)	4,155
Intercompany debt receivables			2,802		3,765		65		(6,632		)	—
Investments	3,320		2,667		480				(6,467		)	—
Goodwill					1,179		3,264					4,443
Intangible assets, net					938		1,360					2,298
Property, plant and equipment, net			1		711		2,976					3,688
Other non-current assets			26		207		543					776
Total	$	3,322	$	5,524	$	8,001	$	11,678	$	(13,165	)	$	15,360
Liabilities and equity
Current liabilities
Short-term debt							$	31				$	31
Current maturities of long-term debt			$	27	$	14	43					84
Accounts payable			48		630		1,774					2,452
Accrued liabilities	$	14			200		748					962
Intercompany payables					21		45		$	(66	)	—
Total current liabilities	14		75		865		2,641		(66		)	3,529
Long-term debt, excluding current maturities			3,177		1,544		4,515					9,236
Long-term intercompany debt	2,524		717		2,867		524		(6,632		)	—
Postretirement and pension liabilities					349		265					614
Other non-current liabilities					338		506					844
Commitments and contingent liabilities
Noncontrolling interests							353					353
Crown Holdings shareholders’ equity/(deficit)	784		1,555		2,038		2,874		(6,467		)	784
Total equity/(deficit)	784		1,555		2,038		3,227		(6,467		)	1,137
Total	$	3,322	$	5,524	$	8,001	$	11,678	$	(13,165	)	$	15,360

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2017

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	36	$	3	$	385				$	424
Receivables, net					29		1,012					1,041
Intercompany receivables					32		13		$	(45	)	—
Inventories					347		1,038					1,385
Prepaid expenses and other current assets			2		17		205					224
Total current assets	—		38		428		2,653		(45		)	3,074
Intercompany debt receivables			2,523		3,325		732		(6,580		)	—
Investments	$	3,120	2,479		1,032				(6,631		)	—
Goodwill					453		2,593					3,046
Intangible assets, net					13		459					472
Property, plant and equipment, net			1		515		2,723					3,239
Other non-current assets			11		311		510					832
Total	$	3,120	$	5,052	$	6,077	$	9,670	$	(13,256	)	$	10,663
Liabilities and equity
Current liabilities
Short-term debt							$	62				$	62
Current maturities of long-term debt			$	23	$	3	38					64
Accounts payable					547		1,820					2,367
Accrued liabilities	$	22	31		72		632					757
Intercompany payables					13		32		$	(45	)	—
Total current liabilities	22		54		635		2,584		(45		)	3,250
Long-term debt, excluding current maturities			2,094		408		2,715					5,217
Long-term intercompany debt	2,497		1,411		2,454		218		(6,580		)	—
Postretirement and pension liabilities					373		215					588
Other non-current liabilities					338		347					685
Commitments and contingent liabilities
Noncontrolling interests							322					322
Crown Holdings shareholders’ equity/(deficit)	601		1,493		1,869		3,269		(6,631		)	601
Total equity/(deficit)	601		1,493		1,869		3,591		(6,631		)	923
Total	$	3,120	$	5,052	$	6,077	$	9,670	$	(13,256	)	$	10,663

Condensed Combining Statement of Cash Flows

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the six months ended June 30, 2018

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	(24	)	$	(45	)	$	32		$	(454	)	$	(1	)	$	(492	)
Cash flows from investing activities
Capital expenditures							(36		)	(164		)				(200		)
Beneficial interests in transferred receivables										335						335
Acquisition of businesses, net of cash acquired										(3,907		)				(3,907		)
Proceeds from sale of property, plant and equipment										5						5
Intercompany investing activities				(80		)							80			—
Other										(25		)				(25		)
Net cash provided by/(used for) investing activities	—			(80		)	(36		)	(3,756		)	80			(3,792		)
Cash flows from financing activities
Proceeds from long-term debt				975			1,150			1,957						4,082
Payments of long-term debt				(15		)	(1		)	(21		)				(37		)
Net change in revolving credit facility and short-term debt				160						41						201
Net change in long-term intercompany balances	27			(973		)	(1,147		)	2,093						—
Debt issue costs				(40		)				(30		)				(70		)
Common stock issued	1															1
Common stock repurchased	(4		)													(4		)
Capital contribution										80			(80		)	—
Dividends paid										(1		)	1			—
Dividends paid to noncontrolling interests										(6		)				(6		)
Foreign exchange derivatives related to debt										(5		)				(5		)
Net cash provided by/(used for) financing activities	24			107			2			4,108			(79		)	4,162
Effect of exchange rate changes on cash, cash equivalents and restricted cash										(6		)				(6		)
Net change in cash, cash equivalents and restricted cash	—			(18		)	(2		)	(108		)	—			(128		)
Cash, cash equivalents and restricted cash at January 1				36			3			396						435
Cash, cash equivalents and restricted cash at June 30	$	—		$	18		$	1		$	288		$	—		$	307

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the six months ended June 30, 2017

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	(13	)	$	(28	)	$	(23	)	$	(383	)	$	(28	)	$	(475	)
Cash flows from investing activities
Capital expenditures							(78		)	(122		)				(200		)
Beneficial interests in transferred receivables										507						507
Proceeds from sale of property, plant and equipment							1			4						5
Intercompany investing activities	235												(235		)	—
Other										—						—
Net cash provided by/(used for) investing activities	235			—			(77		)	389			(235		)	312
Cash flows from financing activities
Proceeds from long-term debt				750			8			295						1,053
Payments of long-term debt				(1,010		)				(93		)				(1,103		)
Net change in revolving credit facility and short-term debt				235						14						249
Net change in long-term intercompany balances	47			22			94			(163		)				—
Debt issue costs				(14		)				(1		)				(15		)
Common stock issued	8															8
Common stock repurchased	(277		)													(277		)
Dividends paid										(263		)	263			—
Dividends paid to noncontrolling interests										(37		)				(37		)
Foreign exchange derivatives related to debt										11						11
Net cash provided by/(used for) financing activities	(222		)	(17		)	102			(237		)	263			(111		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash										11						11
Net change in cash, cash equivalents and restricted cash	—			(45		)	2			(220		)	—			(263		)
Cash, cash equivalents and restricted cash at January 1				83						493						576
Cash, cash equivalents and restricted cash at June 30	$	—		$	38		$	2		$	273		$	—		$	313