Capital Stock

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Capital Stock

Capital Stock

On December 9, 2021, the Company's Board of Directors authorized the repurchase of an aggregate amount of $3,000 of Company common stock through the end of 2024. Share repurchases under the Company's program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions. The Company has remaining Board authorization to repurchase $2,300 of the Company's common stock under the program as of September 30, 2023.

For the three and nine months ended September 30, 2023 and 2022, the Company declared and paid cash dividends of $0.24 per share and $0.72 per share and $0.22 per share and $0.66 per share, respectively. Additionally, on October 26, 2023, the Company's Board of Directors declared a dividend of $0.24 per share payable on November 22, 2023 to shareholders of record as of November 8, 2023.

Accumulated Other Comprehensive Loss Attributable to Crown Holdings

The following table provides information about the changes in each component of accumulated other comprehensive income/(loss).

	Defined benefit plans		Foreign currency translation		Gains and losses on cash flow hedges		Total
Balance at January 1, 2022	$	(768)	$	(1,158)	$	28	$	(1,898)
Other comprehensive income / (loss) before reclassifications	10		(78)		(44)		(112)
Amounts reclassified from accumulated other comprehensive income	20		—		(14)		6
Other comprehensive income / (loss)	30		(78)		(58)		(106)
Balance at September 30, 2022	$	(738)	$	(1,236)	$	(30)	$	(2,004)
Balance at January 1, 2023	$	(686)	$	(1,197)	$	(9)	$	(1,892)
Other comprehensive income / (loss) before reclassifications	(5)		122		(15)		102
Amounts reclassified from accumulated other comprehensive income	28		—		14		42
Other comprehensive income / (loss)	23		122		(1)		144
Balance at September 30, 2023	$	(663)	$	(1,075)	$	(10)	$	(1,748)

See Note J and Note L for further details of amounts related to cash flow hedges and defined benefit plans.