Crown Cork & Seal Company, Inc. (Issuer), a wholly owned subsidiary, has $350 principal amount of 7.375% senior notes due 2026 and $40 principal amount of 7.5% senior notes due 2096 outstanding that are fully and unconditionally guaranteed by Crown Holdings, Inc. (Parent). No other subsidiary guarantees the debt. The following condensed combining financial statements:

•statements of comprehensive income and cash flows for the years ended December 31, 2017, 2016, 2015, and

•balance sheets as of December 31, 2017 and December 31, 2016

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2017 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						8,698						$	8,698
Cost of products sold, excluding depreciation and amortization						7,006						7,006
Depreciation and amortization						247						247
Selling and administrative expense			2			365						367
Provision for asbestos			3									3
Restructuring and other			(1		)	52						51
Income from operations	—		(4		)	1,028			—			1,024
Loss from early extinguishments of debt						7						7
Other pension and postretirement			7			(60		)				(53		)
Net interest expense			91			146						237
Foreign exchange						4						4
Income/(loss) before income taxes	—		(102		)	931			—			829
Provision for / (benefit from) income taxes			194			207						401
Equity earnings in affiliates	323		531						(854		)	—
Net income	323		235			724			(854		)	428
Net income attributable to noncontrolling interests						(105		)				(105		)
Net income attributable to Crown Holdings	$	323	$	235		$	619		$	(854	)	$	323

Total comprehensive income	482		275			886			(1,053		)	590
Comprehensive income attributable to noncontrolling interests						(108		)				(108		)
Comprehensive income attributable to Crown Holdings	$	482	$	275		$	778		$	(1,053	)	$	482

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2016 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						8,284						$	8,284
Cost of products sold, excluding depreciation and amortization						6,623						6,623
Depreciation and amortization						247						247
Selling and administrative expense			1			365						366
Provision for asbestos			21									21
Restructuring and other			(1		)	31						30
Income from operations	—		(21		)	1,018			—			997
Loss from early extinguishments of debt						37						37
Other pension and postretirement			20			(44		)				(24		)
Net interest expense			106			125						231
Foreign exchange						(16		)				(16		)
Income/(loss) before income taxes	—		(147		)	916			—			769
Provision for / (benefit from) income taxes			(12		)	198						186
Equity earnings in affiliates	496		529						(1,025		)	—
Net income	496		394			718			(1,025		)	583
Net income attributable to noncontrolling interests						(87		)				(87		)
Net income attributable to Crown Holdings	$	496	$	394		$	631		$	(1,025	)	$	496

Total comprehensive income	250		348			472			(733		)	337
Comprehensive income attributable to noncontrolling interests						(87		)				(87		)
Comprehensive income attributable to Crown Holdings	$	250	$	348		$	385		$	(733	)	$	250

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						7,140						7,140
Depreciation and amortization						237						237
Selling and administrative expense			2			380						382
Provision for asbestos			26									26
Restructuring and other			(1		)	65						64
Income from operations	—		(27		)	940			—			913
Loss from early extinguishments of debt						9						9
Other pension and postretirement			8			(22		)				(14		)
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 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 and intangible assets					3,518					3,518
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 and accrued liabilities	22		41		3,061					3,124
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	601		1,869		4,699		(6,568		)	601
Total equity	601		1,869		5,021		(6,568		)	923
Total	$	3,120	$	3,740	$	13,975	$	(10,172	)	$	10,663

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2016

(in millions)



	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					559					$	559
Receivables, net					865					865
Inventories					1,245					1,245
Prepaid expenses and other current assets	1				171					172
Total current assets	1		—		2,840		—			2,841

Intercompany debt receivables					3,447		(3,447		)	—
Investments	2,857		2,915				(5,772		)	—
Goodwill and intangible assets					3,263					3,263
Property, plant and equipment, net					2,820					2,820
Other non-current assets			447		228					675
Total	$	2,858	$	3,362	$	12,598	$	(9,219	)	$	9,599

Liabilities and equity
Current liabilities
Short-term debt					33					$	33
Current maturities of long-term debt					161					161
Accounts payable and accrued liabilities	23		40		2,639					2,702
Total current liabilities	23		40		2,833		—			2,896

Long-term debt, excluding current maturities			392		4,325					4,717
Long-term intercompany debt	2,469		978				(3,447		)	—
Postretirement and pension liabilities					620					620
Other non-current liabilities			358		340					698
Commitments and contingent liabilities
Noncontrolling interests					302					302
Crown Holdings shareholders’ equity	366		1,594		4,178		(5,772		)	366
Total equity	366		1,594		4,480		(5,772		)	668
Total	$	2,858	$	3,362	$	12,598	$	(9,219	)	$	9,599

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2017

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	7			(58		)	(162		)	(38		)	$	(251	)
Cash flows from investing activities
Capital expenditures							(498		)				(498		)
Beneficial interest in transferred receivables							1,010						1,010
Proceeds from sale of property, plant and equipment							8						8
Intercompany investing activities	235									(235		)	—
Other							(24		)				(24		)
Net cash provided by/(used for) investing activities	235			—			496			(235		)	496
Cash flows from financing activities
Proceeds from long-term debt							1,054						1,054
Payments of long-term debt				(5		)	(1,132		)				(1,137		)
Net change in revolving credit facility and short-term debt							95						95
Net change in long-term intercompany balances	88			63			(151		)				—
Debt issuance costs							(16		)				(16		)
Common stock issued	9												9
Common stock repurchased	(339		)										(339		)
Dividends paid							(273		)	273			—
Dividend paid to noncontrolling interests							(93		)				(93		)
Foreign exchange derivatives related to debt							27						27
Net cash provided by/(used for) financing activities	(242		)	58			(489		)	273			(400		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash							14						14
Net change in cash, cash equivalents and restricted cash	—			—			(141		)	—			(141		)
Cash, cash equivalents and restricted cash at January 1							576						576
Cash, cash equivalents and restricted cash at December 31	$	—		$	—		$	435		$	—		$	435

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2016

(in millions)



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	63			(92		)	(3		)	(102		)	$	(134	)
Cash flows from investing activities
Capital expenditures							(473		)				(473		)
Beneficial interest in transferred receivables							1,086						1,086
Proceeds from sale of property, plant and equipment				(1		)	11						10
Intercompany investing activities	235									(235		)	—
Other							10						10
Net cash provided by/(used for) investing activities	235			(1		)	634			(235		)	633
Cash flows from financing activities
Proceeds from long-term debt							1,380						1,380
Payments of long-term debt							(1,914		)				(1,914		)
Net change in revolving credit facility and short-term debt							(32		)				(32		)
Net change in long-term intercompany balances	(300		)	93			207						—
Premiums paid to retire debt							(22		)				(22		)
Debt issuance costs							(18		)				(18		)
Common stock issued	10												10
Common stock repurchased	(8		)										(8		)
Dividends paid							(337		)	337			—
Dividend paid to noncontrolling interests							(80		)				(80		)
Contribution from noncontrolling interests							4						4
Foreign exchange derivatives related to debt							42						42
Net cash provided by/(used for) financing activities	(298		)	93			(770		)	337			(638		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash							(30		)				(30		)
Net change in cash, cash equivalents and restricted cash	—			—			(169		)	—			(169		)
Cash, cash equivalents and restricted cash at January 1							745						745
Cash, cash equivalents and restricted cash at December 31	$	—		$	—		$	576		$	—		$	576

CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2015 (in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	33			(65		)	123						$	91
Cash flows from investing activities
Capital expenditures							(354		)				(354		)
Beneficial interest in transferred receivables							865						865
Acquisition of businesses, net of cash acquired							(1,207		)				(1,207		)
Proceeds from sale of business, 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							(10		)				(10		)
Net cash provided by/(used for) investing activities	(738		)	21			61			(21		)	(677		)
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, cash equivalents and restricted cash							(62		)				(62		)
Net change in cash, cash equivalents and restricted cash	—			—			(242		)	—			(242		)
Cash, cash equivalents and restricted cash at January 1							987						987
Cash, cash equivalents and restricted cash at December 31	$	—		$	—		$	745		$	—		$	745

Crown Americas, LLC, Crown Americas Capital Corp. II, Crown Americas Capital Corp. III and Crown Americas Capital Corp. V (collectively, the Issuers), wholly owned subsidiaries of the Company, have outstanding $1,000 principal amount of 4.5% senior notes due 2023 and $400 principal amount of 4.25% senior notes due 2026 which are fully and unconditionally guaranteed by Crown Holdings, Inc. (Parent) and substantially all subsidiaries in the United States. The guarantors are wholly owned by the Company and the guarantees are made on a joint and several basis. The following condensed combining financial statements:


•	statements of comprehensive income and cash flows for the years ended December 31, 2017, 2016, 2015, and


•	balance sheets as of December 31, 2017 and December 31, 2016

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2017 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						1,931			6,767						$	8,698
Cost of products sold, excluding depreciation and amortization						1,605			5,401						7,006
Depreciation and amortization						40			207						247
Selling and administrative expense			10			134			223						367
Provision for asbestos						3									3
Restructuring and other			2			11			38						51
Income from operations			(12		)	138			898						1,024
Loss from early extinguishments of debt			6						1						7
Other pension and postretirement						(13		)	(40		)				(53		)
Net interest expense			65			95			77						237
Technology royalty						(42		)	42						—
Foreign exchange			90			(2		)	6			(90		)	4
Income/(loss) before income taxes			(173		)	100			812			90			829
Provision for / (benefit from) income taxes			(66		)	271			164			32			401
Equity earnings in affiliates	323		194			406						(923		)	—
Net income	323		87			235			648			(865		)	428
Net income attributable to noncontrolling interests									(105		)				(105		)
Net income attributable to Crown Holdings	$	323	$	87		$	235		$	543		$	(865	)	$	323

Total comprehensive income	482		115			275			854			(1,136		)	$	590
Comprehensive income attributable to noncontrolling interests									(108		)				(108		)
Comprehensive income attributable to Crown Holdings	$	482	$	115		$	275		$	746		$	(1,136	)	$	482

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2016 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						1,918			6,366						$	8,284
Cost of products sold, excluding depreciation and amortization						1,571			5,052						6,623
Depreciation and amortization						33			214						247
Selling and administrative expense			10			135			221						366
Provision for asbestos						21									21
Restructuring and other			(5		)	11			24						30
Income from operations			(5		)	147			855						997
Loss from early extinguishments of debt			32						5						37
Other pension and postretirement						(7		)	(17		)				(24		)
Net interest expense			66			86			79						231
Technology royalty						(38		)	38						—
Foreign exchange			(21		)	1			(17		)	21			(16		)
Income/(loss) before income taxes			(82		)	105			767			(21		)	769
Provision for / (benefit from) income taxes			(31		)	81			143			(7		)	186
Equity earnings in affiliates	496		207			370						(1,073		)	—
Net income	496		156			394			624			(1,087		)	583
Net income attributable to noncontrolling interests									(87		)				(87		)
Net income attributable to Crown Holdings	$	496	$	156		$	394		$	537		$	(1,087	)	$	496

Total comprehensive income	250		119			348			394			(774		)	$	337
Comprehensive income attributable to noncontrolling interests									(87		)				(87		)
Comprehensive income attributable to Crown Holdings	$	250	$	119		$	348		$	307		$	(774	)	$	250

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						1,632			5,508						7,140
Depreciation and amortization						32			205						237
Selling and administrative expense			9			145			228						382
Provision for asbestos						26									26
Restructuring and other						7			57						64
Income from operations			(9		)	171			751						913
Loss from early extinguishments of debt			9												9
Other pension and postretirement						(13		)	(1		)				(14		)
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 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 and intangible assets					466		3,052					3,518
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 and accrued liabilities	22		31		619		2,452					3,124
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	601		1,493		1,869		3,269		(6,631		)	601
Total equity	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 BALANCE SHEET

As of December 31, 2016

(in millions)



	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			83				476					$	559
Receivables, net			3		20		842					865
Intercompany receivables					33		6		(39		)	—
Inventories					313		932					1,245
Prepaid expenses and other current assets	1		2		13		156					172
Total current assets	1		88		379		2,412		(39		)	2,841

Intercompany debt receivables			2,703		3,234		690		(6,627		)	—
Investments	2,857		2,319		954				(6,130		)	—
Goodwill and intangible assets					469		2,794					3,263
Property, plant and equipment, net			1		496		2,323					2,820
Other non-current assets			3		464		208					675
Total	$	2,858	$	5,114	$	5,996	$	8,427	$	(12,796	)	$	9,599

Liabilities and equity
Current liabilities
Short-term debt							33					$	33
Current maturities of long-term debt			118				43					161
Accounts payable and accrued liabilities	23		32		577		2,070					2,702
Intercompany payables					6		33		(39		)	—
Total current liabilities	23		150		583		2,179		(39		)	2,896

Long-term debt, excluding current maturities			2,258		392		2,067					4,717
Long-term intercompany debt	2,469		1,328		2,624		206		(6,627		)	—
Postretirement and pension liabilities					422		198					620
Other non-current liabilities					381		317					698
Commitments and contingent liabilities
Noncontrolling interests							302					302
Crown Holdings shareholders’ equity	366		1,378		1,594		3,158		(6,130		)	366
Total equity	366		1,378		1,594		3,460		(6,130		)	668
Total	$	2,858	$	5,114	$	5,996	$	8,427	$	(12,796	)	$	9,599

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2017

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	7			(30		)	83			(211		)	(100		)	$	(251	)
Cash flows from investing activities
Capital expenditures							(102		)	(396		)				(498		)
Beneficial interest in transferred receivables										1,010						1,010
Proceeds from sale of property, plant and equipment							1			7						8
Intercompany investing activities	235						300						(535		)	—
Other							(20		)	(4		)				(24		)
Net cash provided by/(used for) investing activities	235			—			179			617			(535		)	496
Cash flows from financing activities
Proceeds from long-term debt				750			9			295						1,054
Payments of long-term debt				(1,015		)	(7		)	(115		)				(1,137		)
Net change in revolving credit facility and short-term debt										95						95
Net change in long-term intercompany balances	88			263			(261		)	(90		)				—
Debt issuance costs				(15		)				(1		)				(16		)
Common stock issued	9															9
Common stock repurchased	(339		)													(339		)
Dividends paid										(635		)	635			—
Dividends paid to noncontrolling interests										(93		)				(93		)
Foreign exchange derivatives related to debt										27						27
Net cash provided by/(used for) financing activities	(242		)	(17		)	(259		)	(517		)	635			(400		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash										14						14
Net change in cash, cash equivalents and restricted cash	—			(47		)	3			(97		)	—			(141		)
Cash, cash equivalents and restricted cash at January 1				83						493						576
Cash, cash equivalents and restricted cash at December 31	$	—		$	36		$	3		$	396		$	—		$	435

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2016

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	63			23			143			(211		)	(152		)	$	(134	)
Cash flows from investing activities
Capital expenditures							(127		)	(346		)				(473		)
Beneficial interest in transferred receivables										1,086						1,086
Proceeds from sale of property, plant and equipment							4			6						10
Intercompany investing activities	235						150						(385		)	—
Other							10			—						10
Net cash provided by/(used for) investing activities	235			—			37			746			(385		)	633
Cash flows from financing activities
Proceeds from long-term debt				700						680						1,380
Payments of long-term debt				(1,181		)				(733		)				(1,914		)
Net change in revolving credit facility and short-term debt										(32		)				(32		)
Net change in long-term intercompany balances	(300		)	468			(180		)	12						—
Premiums paid to retire debt				(22		)										(22		)
Debt issuance costs				(9		)				(9		)				(18		)
Common stock issued	10															10
Common stock repurchased	(8		)													(8		)
Dividends paid										(537		)	537			—
Dividends paid to noncontrolling interests										(80		)				(80		)
Contribution from noncontrolling interests										4						4
Foreign exchange derivatives related to debt										42						42
Net cash provided by/(used for) financing activities	(298		)	(44		)	(180		)	(653		)	537			(638		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash										(30		)				(30		)
Net change in cash, cash equivalents and restricted cash	—			(21		)	—			(148		)	—			(169		)
Cash, cash equivalents and restricted cash at January 1				104						641						745
Cash, cash equivalents and restricted cash at December 31	$	—		$	83		$	—		$	493		$	—		$	576

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the year ended December 31, 2015

(in millions)



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	33			(34		)	6			86						$	91
Cash flows from investing activities
Capital expenditures							(80		)	(274		)				(354		)
Beneficial interest in transferred receivables										865						865
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		)	—						(10		)
Net cash provided by/(used for) investing activities	(738		)	4			(17		)	160			(86		)	(677		)
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, cash equivalents and restricted cash										(62		)				(62		)
Net change in cash, cash equivalents and restricted cash	—			(24		)	—			(218		)	—			(242		)
Cash, cash equivalents and restricted cash at January 1				128						859						987
Cash, cash equivalents and restricted cash at December 31	$	—		$	104		$	—		$	641		$	—		$	745