Quarterly Data (unaudited)

12 Months Ended

Dec. 31, 2019



(in millions)	2019								2018
	First⁽¹⁾		Second⁽²⁾		Third⁽³⁾		Fourth⁽⁴⁾		First ⁽⁵⁾		Second⁽⁶⁾		Third⁽⁷⁾		Fourth⁽⁸⁾
Net sales	$	2,755	$	3,035	$	3,084	$	2,791	$	2,197	$	3,046	$	3,174	$	2,734
Gross profit *	423		495		508		400		324		467		517		390
Income from operations	262		383		352		199		221		292		365		218
Net income (loss) attributable to Crown Holdings	103		137		183		87		90		132		164		53
Earnings per average common share:
Basic	$	0.77	$	1.02	$	1.37	$	0.65	$	0.67	$	0.99	$	1.23	$	0.40
Diluted	0.77		1.02		1.36		0.64		0.67		0.99		1.23		0.40
Average common shares outstanding:
Basic	133.8		133.9		133.9		134.0		133.5		133.6		133.7		133.7
Diluted	134.4		134.8		135.0		135.2		133.8		133.8		133.8		134.1

* The Company defines gross profit as net sales less cost of products sold and depreciation and amortization.

Notes:


(1)	Includes pre-tax charges of $4 for restructuring and other and $6 from early extinguishment of debt and a pension plan curtailment gain of $14.


(2)	Includes pre-tax gains of $45 for restructuring and other, and charges of $31 for a pension plan settlement and $15 to settle a tax contingency.


(3)	Includes pre-tax charges of $6 for pension plan settlements.


(4)	Includes pre-tax charges of $25 for a goodwill impairment, $15 for restructuring and other and $7 for pension plan settlements. Also, includes income tax benefits of $37 primarily related to a deferred tax valuation allowance release.


(5)	Includes pre-tax charges of $13 for restructuring and other and $24 for acquisition costs.


(6)	Includes pre-tax charges of $40 for fair value adjustment to inventory and $16 for restructuring and other.


(7)	Includes a pre-tax benefit of $1 for restructuring and other and income tax charges of $28 related to taxes on distributions of foreign earnings.

(8)

Includes pre-tax charges of $16 for restructuring and other and $42 for pension plan settlements.