Equity Investments

12 Months Ended

Dec. 31, 2012

Equity Investments

Equity Investments

4. Equity Investments

        Summarized information pertaining to the Company's equity associates follows:

	2012		2011		2010
For the year:
Equity in earnings:
Non-U.S.	$	20	$	24	$	20
U.S.		44		42		39
Total	$	64	$	66	$	59
Dividends received	$	50	$	50	$	62

        Summarized combined financial information for equity associates is as follows (unaudited):

	2012		2011
At end of year:
Current assets	$	327	$	309
Non-current assets		496		413
Total assets		823		722
Current liabilities		195		186
Other liabilities and deferred items		158		129
Total liabilities and deferred items		353		315
Net assets	$	470	$	407

	2012		2011		2010
For the year:
Net sales	$	658	$	689	$	731
Gross profit	$	191	$	215	$	227
Net earnings	$	143	$	174	$	162

        The Company's significant equity method investments include: (1) 50% of the common shares of Vetri Speciali SpA, a specialty glass manufacturer; (2) a 25% partnership interest in Tata Chemical (Soda Ash) Partners, a soda ash supplier; (3) a 50% partnership interest in Rocky Mountain Bottle Company, a glass container manufacturer; and (4) a 50% partnership interest in BJC O-I Glass Pte. Ltd., a glass container manufacturer.

        There is a difference of approximately $13 million as of December 31, 2012 for certain of the investments between the amount at which the investment is carried and the amount of underlying equity in net assets. The portion of the difference related to inventory or amortizable assets is amortized as a reduction of the equity earnings. The remaining difference is considered goodwill.