Capital Stock

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Capital Stock

Capital Stock

On July 25, 2024, the Company's Board of Directors authorized the repurchase of an aggregate amount of $2,000 of the Company's common stock through the end of 2027. The new authorization supersedes the previous authorization announced in December 2021, which authorized the repurchase of an aggregate amount of $3,000 of Company common stock through the end of 2024. As of June 30, 2024, the Company had remaining Board authorization to repurchase $2,300 of the Company's common stock under the December 2021 program. 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.

For the three months and six months ended June 30, 2024 and 2023, the Company declared and paid cash dividends of $0.25 per share and $0.50 per share and $0.24 per share and $0.48 per share, respectively. Additionally, on July 25, 2024, the Company's Board of Directors declared a dividend of $0.25 per share payable on August 29, 2024 to shareholders of record as of August 15, 2024.

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, 2023	$	(686)	$	(1,197)	$	(9)	$	(1,892)
Other comprehensive income / (loss) before reclassifications	—		167		(14)		153
Amounts reclassified from accumulated other comprehensive income	19		—		6		25
Other comprehensive income / (loss)	19		167		(8)		178
Balance at June 30, 2023	$	(667)	$	(1,030)	$	(17)	$	(1,714)
Balance at January 1, 2024	$	(664)	$	(1,022)	$	(1)	$	(1,687)
Other comprehensive income / (loss) before reclassifications	—		(127)		3		(124)
Amounts reclassified from accumulated other comprehensive income	20		—		6		26
Other comprehensive income / (loss)	20		(127)		9		(98)
Balance at June 30, 2024	$	(644)	$	(1,149)	$	8	$	(1,785)

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