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:

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2019 (in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	11,665					$	11,665
Cost of products sold, excluding depreciation and amortization						9,349						9,349
Depreciation and amortization						490						490
Selling and administrative expense			$	3		628						631
Restructuring and other						(26		)				(26		)
Goodwill impairment						25						25
Income from operations	—		(3		)	1,199			—			1,196
Loss from early extinguishments of debt						27						27
Other pension and postretirement			7			6						13
Net interest expense			73			288						361
Foreign exchange						9						9
Income/(loss) before income taxes	—		(83		)	869			—			786
Provision for / (benefit from) income taxes			(12		)	178						166
Equity in net earnings of affiliates	$	510	509			5			$	(1,019	)	5
Net income	510		438			696			(1,019		)	625
Net income attributable to noncontrolling interests						(115		)				(115		)
Net income attributable to Crown Holdings	$	510	$	438		$	581		$	(1,019	)	$	510

Total comprehensive income	$	753	$	647		$	941		$	(1,471	)	$	870
Comprehensive income attributable to noncontrolling interests						(117		)				(117		)
Comprehensive income attributable to Crown Holdings	$	753	$	647		$	824		$	(1,471	)	$	753

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2018 (in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net sales							$	11,151					$	11,151
Cost of products sold, excluding depreciation and amortization							9,028						9,028
Depreciation and amortization							425						425
Selling and administrative expense				$	3		555						558
Restructuring and other	$	9					35						44
Income from operations	(9		)	(3		)	1,108			—			1,096
Other pension and postretirement				7			(32		)				(25		)
Net interest expense				74			289						363
Foreign exchange							18						18
Income/(loss) before income taxes	(9		)	(84		)	833			—			740
Provision for / (benefit from) income taxes	(2		)	7			211						216
Equity in net earnings of affiliates	446			456			4			$	(902	)	4
Net income	439			365			626			(902		)	528
Net income attributable to noncontrolling interests							(89		)				(89		)
Net income attributable to Crown Holdings	$	439		$	365		$	537		$	(902	)	$	439

Total comprehensive income	$	303		$	259		$	487		$	(660	)	$	389
Comprehensive income attributable to noncontrolling interests							(86		)				(86		)
Comprehensive income attributable to Crown Holdings	$	303		$	259		$	401		$	(660	)	$	303

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 in net earnings of 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



	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	607				$	607
Receivables, net			$	11	1,517					1,528
Inventories					1,626					1,626
Prepaid expenses and other current assets					241					241
Total current assets	—		11		3,991		—			4,002

Intercompany debt receivables					3,538		$	(3,538	)	—
Investments	$	4,209	4,439				(8,648		)	—
Goodwill					4,430					4,430
Intangible assets					2,015					2,015
Property, plant and equipment, net					3,887					3,887
Operating lease right-of-use assets, net					204					204
Other non-current assets			129		838					967
Total	$	4,209	$	4,579	$	18,903	$	(12,186	)	$	15,505

Liabilities and equity
Current liabilities
Short-term debt					$	75				$	75
Current maturities of long-term debt					62					62
Current portion of operating lease liabilities					51					51
Accounts payable					2,646					2,646
Accrued liabilities	$	24	$	33	1,008					1,065
Total current liabilities	24		33		3,842		—			3,899

Long-term debt, excluding current maturities			388		7,430					7,818
Long-term intercompany debt	2,472		1,066				$	(3,538	)	—
Non-current portion of operating lease liabilities					156					156
Postretirement and pension liabilities					683					683
Other non-current liabilities			311		546					857
Commitments and contingent liabilities
Noncontrolling interests					379					379
Crown Holdings shareholders’ equity	1,713		2,781		5,867		(8,648		)	1,713
Total equity	1,713		2,781		6,246		(8,648		)	2,092
Total	$	4,209	$	4,579	$	18,903	$	(12,186	)	$	15,505



	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	607				$	607
Receivables, net			$	9	1,593					1,602
Inventories					1,690					1,690
Prepaid expenses and other current assets	$	1	1		178					180
Total current assets	1		10		4,068		—			4,079

Intercompany debt receivables					3,561		$	(3,561	)	—
Investments	3,458		3,764				(7,222		)	—
Goodwill					4,442					4,442
Intangible assets					2,193					2,193
Property, plant and equipment, net					3,745					3,745
Other non-current assets			156		647					803
Total	$	3,459	$	3,930	$	18,656	$	(10,783	)	$	15,262

Liabilities and equity
Current liabilities
Short-term debt					$	89				$	89
Current maturities of long-term debt					81					81
Accounts payable					2,732					2,732
Accrued liabilities	$	14	$	30	967					1,011
Total current liabilities	14		30		3,869		—			3,913

Long-term debt, excluding current maturities			388		8,105					8,493
Long-term intercompany debt	2,508		1,053				$	(3,561	)	—
Postretirement and pension liabilities					683					683
Other non-current liabilities			325		562					887
Commitments and contingent liabilities
Noncontrolling interests					349					349
Crown Holdings shareholders’ equity	937		2,134		5,088		(7,222		)	937
Total equity	937		2,134		5,437		(7,222		)	1,286
Total	$	3,459	$	3,930	$	18,656	$	(10,783	)	$	15,262



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	39		$	(13	)	$	1,180		$	(43	)	$	1,163
Cash flows from investing activities
Capital expenditures							(432		)				(432		)
Acquisition of businesses, net of cash acquired							(11		)				(11		)
Net investment hedges							23						23
Proceeds from sale of property, plant and equipment							39						39
Other							7						7
Net cash provided by/(used for) investing activities	—			—			(374		)	—			(374		)
Cash flows from financing activities
Proceeds from long-term debt							2,216						2,216
Payments of long-term debt							(2,845		)				(2,845		)
Net change in revolving credit facility and short-term debt							(10		)				(10		)
Net change in long-term intercompany balances	(36		)	13			23						—
Payments of finance leases							(15		)				(15		)
Debt issuance costs							(18		)				(18		)
Common stock issued	4												4
Common stock repurchased	(7		)										(7		)
Dividends paid							(43		)	43			—
Dividend paid to noncontrolling interests							(101		)				(101		)
Contribution from noncontrolling interests							6						6
Foreign exchange derivatives related to debt							(16		)				(16		)
Net cash provided by/(used for) financing activities	(39		)	13			(803		)	43			(786		)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash							1						1
Net change in cash, cash equivalents, and restricted cash	—			—			4			—			4
Cash, cash equivalents, and restricted cash at January 1							659						659
Cash, cash equivalents, and restricted cash at December 31	$	—		$	—		$	663		$	—		$	663



	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	(8	)	$	(74	)	$	692		$	(39	)	$	571
Cash flows from investing activities
Capital expenditures							(462		)				(462		)
Beneficial interest in transferred receivables							490						490
Acquisition of businesses, net of cash acquired							(3,912		)				(3,912		)
Proceeds from sale of property, plant and equipment							36						36
Foreign exchange derivatives related to acquisitions							(25		)				(25		)
Net investment hedge settlements							34						34
Other							(4		)				(4		)
Net cash provided by/(used for) investing activities	—			—			(3,843		)	—			(3,843		)
Cash flows from financing activities
Proceeds from long-term debt							4,082						4,082
Payments of long-term debt							(333		)				(333		)
Net change in revolving credit facility and short-term debt							(69		)				(69		)
Net change in long-term intercompany balances	11			74			(85		)				—
Debt issuance costs							(70		)				(70		)
Common stock issued	1												1
Common stock repurchased	(4		)										(4		)
Dividends paid							(39		)	39			—
Dividend paid to noncontrolling interests							(60		)				(60		)
Foreign exchange derivatives related to debt							(14		)				(14		)
Net cash provided by/(used for) financing activities	8			74			3,412			39			3,533
Effect of exchange rate changes on cash, cash equivalents, and restricted cash							(37		)				(37		)
Net change in cash, cash equivalents, and restricted cash	—			—			224			—			224
Cash, cash equivalents, and restricted cash at January 1							435						435
Cash, cash equivalents, and restricted cash at December 31	$	—		$	—		$	659		$	—		$	659

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

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, $400 principal amount of 4.25% senior notes due 2026, and $875 principal amount of 4.75% 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:

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2019 (in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	3,766		$	8,358		$	(459	)	$	11,665
Cost of products sold, excluding depreciation and amortization						3,147			6,661			(459		)	9,349
Depreciation and amortization						141			349						490
Selling and administrative expense			$	10		264			357						631
Restructuring and other						14			(40		)				(26		)
Goodwill impairment									25						25
Income from operations	—		(10		)	200			1,006			—			1,196
Loss from early extinguishments of debt			19						8						27
Other pension and postretirement						11			2						13
Net interest expense			77			124			160						361
Technology royalty						(42		)	42						—
Foreign exchange			(34		)	1			8			34			9
Income/(loss) before income taxes	—		(72		)	106			786			(34		)	786
Provision for / (benefit from) income taxes			(17		)	59			132			(8		)	166
Equity in net earnings of affiliates	$	510	206			358			2			(1,071		)	5
Net income	510		151			405			656			(1,097		)	625
Net income attributable to noncontrolling interests									(115		)				(115		)
Net income attributable to Crown Holdings	$	510	$	151		$	405		$	541		$	(1,097	)	$	510

Total comprehensive income	$	753	$	199		$	614		$	827		$	(1,523	)	$	870
Comprehensive income attributable to noncontrolling interests									(117		)				(117		)
Comprehensive income attributable to Crown Holdings	$	753	$	199		$	614		$	710		$	(1,523	)	$	753

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2018 (in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales							$	3,426		$	8,212		$	(487	)	$	11,151
Cost of products sold, excluding depreciation and amortization							2,932			6,583			(487		)	9,028
Depreciation and amortization							117			308						425
Selling and administrative expense				$	11		216			331						558
Restructuring and other	$	9					11			24						44
Income from operations	(9		)	(11		)	150			966			—			1,096
Other pension and postretirement							(14		)	(11		)				(25		)
Net interest expense				91			113			159						363
Technology royalty							(45		)	45						—
Foreign exchange				(16		)				19			15			18
Income/(loss) before income taxes	(9		)	(86		)	96			754			(15		)	740
Provision for / (benefit from) income taxes	(2		)	(20		)	53			188			(3		)	216
Equity in net earnings of affiliates	446			191			311			1			(945		)	4
Net income	439			125			354			567			(957		)	528
Net income attributable to noncontrolling interests										(89		)				(89		)
Net income attributable to Crown Holdings	$	439		$	125		$	354		$	478		$	(957	)	$	439

Total comprehensive income	$	303		$	62		$	248		$	479		$	(703	)	$	389
Comprehensive income attributable to noncontrolling interests										(86		)				(86		)
Comprehensive income attributable to Crown Holdings	$	303		$	62		$	248		$	393		$	(703	)	$	303

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						$	2,286		$	6,797		$	(385	)	$	8,698
Cost of products sold, excluding depreciation and amortization						1,960			5,431			(385		)	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 in net earnings of 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



	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	133	$	5	$	469				$	607
Receivables, net			11		140		1,377					1,528
Intercompany receivables					48		23		$	(71	)	—
Inventories					443		1,183					1,626
Prepaid expenses and other current assets			2		19		220					241
Total current assets	—		146		655		3,272		(71		)	4,002

Intercompany debt receivables			3,080		3,352		245		(6,677		)	—
Investments	$	4,209	2,850		1,495				(8,554		)	—
Goodwill					1,186		3,244					4,430
Intangible assets					832		1,183					2,015
Property, plant and equipment, net			1		725		3,161					3,887
Operating lease right-of-use assets, net			3		64		137					204
Other non-current assets			62		148		757					967
Total	$	4,209	$	6,142	$	8,457	$	11,999	$	(15,302	)	$	15,505

Liabilities and equity
Current liabilities
Short-term debt							$	75				$	75
Current maturities of long-term debt			$	27			35					62
Current portion of operating lease liabilities					$	19	32					51
Accounts payable					682		1,964					2,646
Accrued liabilities	$	24	49		134		858					1,065
Intercompany payables					23		48		$	(71	)	—
Total current liabilities	24		76		858		3,012		(71		)	3,899

Long-term debt, excluding current maturities			3,313		388		4,117					7,818
Long-term intercompany debt	2,472		996		3,082		127		(6,677		)	—
Non-current portion of operating lease liabilities			3		48		105					156
Postretirement and pension liabilities					386		297					683
Other non-current liabilities					303		554					857
Commitments and contingent liabilities
Noncontrolling interests							379					379
Crown Holdings shareholders’ equity	1,713		1,754		3,392		3,408		(8,554		)	1,713
Total equity	1,713		1,754		3,392		3,787		(8,554		)	2,092
Total	$	4,209	$	6,142	$	8,457	$	11,999	$	(15,302	)	$	15,505



	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	117	$	19	$	471				$	607
Receivables, net			4		182		1,416					1,602
Intercompany receivables					33		13		$	(46	)	—
Inventories					485		1,205					1,690
Prepaid expenses and other current assets	$	1	1		17		161					180
Total current assets	1		122		736		3,266		(46		)	4,079

Intercompany debt receivables			2,577		3,449		12		(6,038		)	—
Investments	3,458		2,657		1,248				(7,363		)	—
Goodwill					1,178		3,264					4,442
Intangible assets					901		1,292					2,193
Property, plant and equipment, net			1		693		3,051					3,745
Other non-current assets			29		192		582					803
Total	$	3,459	$	5,386	$	8,397	$	11,467	$	(13,447	)	$	15,262

Liabilities and equity
Current liabilities
Short-term debt							$	89				$	89
Current maturities of long-term debt			$	37			44					81
Accounts payable					$	725	2,007					2,732
Accrued liabilities	$	14	49		144		804					1,011
Intercompany payables					13		33		$	(46	)	—
Total current liabilities	14		86		882		2,977		(46		)	3,913

Long-term debt, excluding current maturities			2,999		1,274		4,220					8,493
Long-term intercompany debt	2,508		746		2,700		84		(6,038		)	—
Postretirement and pension liabilities					432		251					683
Other non-current liabilities					332		555					887
Commitments and contingent liabilities
Noncontrolling interests							349					349
Crown Holdings shareholders’ equity	937		1,555		2,777		3,031		(7,363		)	937
Total equity	937		1,555		2,777		3,380		(7,363		)	1,286
Total	$	3,459	$	5,386	$	8,397	$	11,467	$	(13,447	)	$	15,262



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	39		$	(29	)	$	281		$	975		$	(103	)	$	1,163
Cash flows from investing activities
Capital expenditures							(97		)	(335		)				(432		)
Acquisition of businesses, net of cash acquired							(11		)							(11		)
Net investment hedges				23												23
Proceeds from sale of property, plant and equipment							8			31						39
Intercompany investing activities							226						(226		)	—
Other										7						7
Net cash provided by/(used for) investing activities	—			23			126			(297		)	(226		)	(374		)
Cash flows from financing activities
Proceeds from long-term debt				1,100						1,116						2,216
Payments of long-term debt				(815		)	(887		)	(1,143		)				(2,845		)
Net change in revolving credit facility and short-term debt										(10		)				(10		)
Net change in long-term intercompany balances	(36		)	(253		)	479			(190		)				—
Payments of finance leases							(13		)	(2		)				(15		)
Debt issuance costs				(10		)				(8		)				(18		)
Common stock issued	4															4
Common stock repurchased	(7		)													(7		)
Dividends paid										(329		)	329			—
Dividends paid to noncontrolling interests										(101		)				(101		)
Contribution from noncontrolling interests										6						6
Foreign exchange derivatives related to debt										(16		)				(16		)
Net cash provided by/(used for) financing activities	(39		)	22			(421		)	(677		)	329			(786		)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash										1						1
Net change in cash, cash equivalents, and restricted cash	—			16			(14		)	2			—			4
Cash, cash equivalents, and restricted cash at January 1	—			117			19			523			—			659
Cash, cash equivalents, and restricted cash at December 31	$	—		$	133		$	5		$	525		$	—		$	663



	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	(8	)	$	(44	)	$	180		$	532		$	(89	)	$	571
Cash flows from investing activities
Capital expenditures							(60		)	(402		)				(462		)
Beneficial interest in transferred receivables										490						490
Acquisition of businesses, net of cash acquired										(3,912		)				(3,912		)
Proceeds from sale of property, plant and equipment							9			27						36
Intercompany investing activities				(100		)							100			—
Foreign exchange derivatives related to acquisition										(25		)				(25		)
Net investment hedge settlements				34												34
Other										(4		)				(4		)
Net cash provided by/(used for) investing activities	—			(66		)	(51		)	(3,826		)	100			(3,843		)
Cash flows from financing activities
Proceeds from long-term debt				975			1,150			1,957						4,082
Payments of long-term debt				(25		)	(265		)	(43		)				(333		)
Net change in revolving credit facility and short-term debt										(69		)				(69		)
Net change in long-term intercompany balances	11			(719		)	(998		)	1,706						—
Debt issuance costs				(40		)				(30		)				(70		)
Common stock issued	1															1
Common stock repurchased	(4		)													(4		)
Capital contribution										100			(100		)	—
Dividends paid										(89		)	89			—
Dividends paid to noncontrolling interests										(60		)				(60		)
Foreign exchange derivatives related to debt										(14		)				(14		)
Net cash provided by/(used for) financing activities	8			191			(113		)	3,458			(11		)	3,533
Effect of exchange rate changes on cash, cash equivalents, and restricted cash										(37		)				(37		)
Net change in cash, cash equivalents, and restricted cash	—			81			16			127			—			224
Cash, cash equivalents, and restricted cash at January 1	—			36			3			396			—			435
Cash, cash equivalents, and restricted cash at December 31	$	—		$	117		$	19		$	523		$	—		$	659



	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