10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

____________________________________

FORM 10-Q

____________________________________

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED September 30, 2015

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM  ____  TO ____

COMMISSION FILE NUMBER 000-50189

____________________________________________________

CROWN HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

____________________________________________________

Pennsylvania	75-3099507
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
One Crown Way, Philadelphia, PA	19154-4599
(Address of principal executive offices)	(Zip Code)

215-698-5100

(registrant’s telephone number, including area code)

____________________________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one)

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	o  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule 12b-2).    Yes  ¨    No  x

There were 139,411,768shares of Common Stock outstanding as of October 22, 2015.

Crown Holdings, Inc.

PART I – FINANCIAL INFORMATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions except per share data)

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Net sales	$	2,460		$	2,594		$	6,735		$	6,970
Cost of products sold, excluding depreciation and amortization	1,984			2,119			5,487			5,740
Depreciation and amortization	61			53			174			135
Gross profit	415			422			1,074			1,095
Selling and administrative expense	94			95			291			302
Restructuring and other	40			8			57			91
Loss from early extinguishments of debt	—			34			9			34
Interest expense	68			64			202			188
Interest income	(4		)	(2		)	(8		)	(5		)
Foreign exchange	9			(2		)	14			4
Income before income taxes	208			225			509			481
Provision for / (benefits from) income taxes	48			(41		)	134			42
Net income	160			266			375			439
Net income attributable to noncontrolling interests	(19		)	(22		)	(48		)	(65		)
Net income attributable to Crown Holdings	$	141		$	244		$	327		$	374
Earnings per common share attributable to Crown Holdings:
Basic	$	1.02		$	1.78		$	2.37		$	2.73
Diluted	$	1.01		$	1.76		$	2.35		$	2.70

The accompanying notes are an integral part of these consolidated financial statements.

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Crown Holdings, Inc.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In millions)

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Net income	$	160		$	266		$	375		$	439
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(153		)	(154		)	(360		)	(162		)
Pension and other postretirement benefits	25			19			48			51
Derivatives qualifying as hedges	(7		)	11			(17		)	32
Total other comprehensive loss	(135		)	(124		)	(329		)	(79		)
Total comprehensive income (loss)	25			142			46			360
Net income attributable to noncontrolling interests	(19		)	(22		)	(48		)	(65		)
Translation adjustments attributable to noncontrolling interests	2			2			3			1
Derivatives qualifying as hedges attributable to noncontrolling interests	1			(1		)	2			(3		)
Comprehensive income attributable to Crown Holdings	$	9		$	121		$	3		$	293

The accompanying notes are an integral part of these consolidated financial statements.

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Crown Holdings, Inc.

CONSOLIDATED BALANCE SHEETS (Condensed)

(In millions)

(Unaudited)

	September 30, 2015		December 31, 2014
Assets
Current assets
Cash and cash equivalents	$	466	$	965
Receivables, net	1,183		1,031
Inventories	1,302		1,324
Prepaid expenses and other current assets	311		256
Assets held for sale	—		48
Total current assets	3,262		3,624
Goodwill and intangible assets, net	3,664		2,926
Property, plant and equipment, net	2,614		2,437
Other non-current assets	689		721
Total	$	10,229	$	9,708
Liabilities and equity
Current liabilities
Short-term debt	$	61	$	75
Current maturities of long-term debt	142		177
Accounts payable and accrued liabilities	2,527		2,651
Liabilities held for sale	—		23
Total current liabilities	2,730		2,926
Long-term debt, excluding current maturities	5,608		5,007
Postretirement and pension liabilities	786		871
Other non-current liabilities	672		517
Commitments and contingent liabilities (Note L)
Noncontrolling interests	293		268
Crown Holdings shareholders’ equity	140		119
Total equity	433		387
Total	$	10,229	$	9,708

The accompanying notes are an integral part of these consolidated financial statements.

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Crown Holdings, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Condensed)

(In millions)

(Unaudited)

	Nine Months Ended
	September 30
	2015			2014
Cash flows from operating activities
Net income	$	375		$	439
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	174			135
Restructuring and other	57			91
Pension expense	35			41
Pension contributions	(54		)	(63		)
Stock-based compensation	22			18
Changes in assets and liabilities:
Receivables	(201		)	(360		)
Inventories	(10		)	(168		)
Accounts payable and accrued liabilities	(94		)	(34		)
Other, net	11			(90		)
Net cash provided by operating activities	315			9
Cash flows from investing activities
Capital expenditures	(176		)	(212		)
Purchase of business	(1,207		)	(733		)
Proceeds from sale of property, plant and equipment	3			9
Proceeds from sale of business	33			22
Net investment hedge settlements	(11		)	—
Other	(16		)	2
Net cash used for investing activities	(1,374		)	(912		)
Cash flows from financing activities
Proceeds from long-term debt	1,435			2,742
Payments of long-term debt	(780		)	(1,720		)
Net change in revolving credit facility and short-term debt	34			(232		)
Debt issue costs	(18		)	(41		)
Common stock issued	5			11
Common stock repurchased	(9		)	(2		)
Purchase of noncontrolling interests	—			(93		)
Contributions from noncontrolling interests	3			—
Dividends paid to noncontrolling interests	(21		)	(45		)
Foreign exchange derivatives related to debt	(38		)	(14		)
Net cash provided by financing activities	611			606
Effect of exchange rate changes on cash and cash equivalents	(51		)	(12		)
Net change in cash and cash equivalents	(499		)	(309		)
Cash and cash equivalents at January 1	965			689
Cash and cash equivalents at September 30	$	466		$	380

The accompanying notes are an integral part of these consolidated financial statements.

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Crown Holdings, Inc.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(In millions)

(Unaudited)

	Crown Holdings, Inc. Shareholders’ Equity
	Common Stock		Paid-in Capital			Accumulated Earnings		Accumulated Other Comprehensive Loss			Treasury Stock			Total Crown Equity			Noncontrolling Interests			Total
Balance at January 1, 2014	$	929	$	431		$	1,395	$	(2,513	)	$	(238	)	$	4		$	285		$	289
Net income						374								374			65			439
Other comprehensive income								(81		)				(81		)	2			(79		)
Dividends paid to noncontrolling interests														—			(30		)	(30		)
Stock-based compensation			18											18						18
Common stock issued			8								3			11						11
Common stock repurchased			(2		)									(2		)				(2		)
Purchase of noncontrolling interests			(54		)									(54		)	(44		)	(98		)
Balance at September 30, 2014	$	929	$	401		$	1,769	$	(2,594	)	$	(235	)	$	270		$	278		$	548
Balance at January 1, 2015	$	929	$	407		$	1,782	$	(2,765	)	$	(234	)	$	119		$	268		$	387
Net income						327								327			48			375
Other comprehensive income								(324		)				(324		)	(5		)	(329		)
Dividends paid to noncontrolling interests														—			(21		)	(21		)
Contribution from noncontrolling interests																	3			3
Restricted stock awarded			(2		)						2			—						—
Stock-based compensation			22											22						22
Common stock issued			4								1			5						5
Common stock repurchased			(8		)						(1		)	(9		)				(9		)
Balance at September 30, 2015	$	929	$	423		$	2,109	$	(3,089	)	$	(232	)	$	140		$	293		$	433

The accompanying notes are an integral part of these consolidated financial statements.

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Crown Holdings, Inc.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In millions, except per share and statistical data)

(Unaudited)

A. Statement of Information Furnished

The consolidated financial statements include the accounts of Crown Holdings, Inc. and its consolidated subsidiaries (the “Company”). The accompanying unaudited interim consolidated financial statements have been prepared in accordance with Form 10-Q instructions. In the opinion of management, these consolidated financial statements contain all adjustments of a normal and recurring nature necessary for a fair statement of the financial position of the Company as of September 30, 2015 and the results of its operations for the three and nine months ended September 30, 2015 and 2014 and of its cash flows for the nine months ended September 30, 2015 and 2014. The results reported in these consolidated financial statements are not necessarily indicative of the results that may be expected for the entire year. These results have been determined on the basis of accounting principles generally accepted in the United States of America (“GAAP”).

Certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP have been condensed or omitted. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014.

B. Accounting and Reporting Developments

Recently Adopted Accounting Standards

In the first quarter of 2015, the Company adopted changes to the definition of discontinued operations to include only disposals that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The change did not impact the Company's financial statements in 2015.

In September 2015, the FASB issued new guidance related to accounting for measurement-period adjustments. The new guidance requires that the cumulative impact of a measurement period adjustment, including the impact on prior periods, be recognized in the reporting period in which the adjustment is identified. Early adoption is permitted and the Company has elected to early adopted this standard during the third quarter of 2015. The change did not materially impact the Company's financial statements in 2015.

Recently Issued Accounting Standards

In May 2014, the FASB issued new guidance related to how an entity should recognize revenue. The guidance specifies that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. In addition, the guidance expands the required disclosures related to revenue and cash flows from contracts with customers. The guidance is effective for the Company beginning in the first quarter of 2018 with early adoption permitted beginning in the first quarter of 2017. Retrospective application is permitted, but not required. The Company is currently evaluating the impact of adopting this guidance on its financial position and results of operations.

In April 2015, the FASB issued new guidance related to the classification of debt issuance costs. The guidance requires the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the liability instead of a deferred charge. The guidance is effective for the Company beginning in the first quarter of 2016. Early adoption is permitted and the Company is currently assessing whether to early adopt. The guidance is not expected to impact the Company's financial statements other than presentation on the balance sheet.

In July 2015, the FASB issued new guidance related to the subsequent measurement of inventory. Under existing guidance, inventory was measured at the lower of cost or market, where market was defined as replacement cost, with a ceiling of net realizable value and floor of net realizable value less a normal profit margin. The new guidance requires an entity to subsequently measure inventory at the lower of cost or net realizable value, which is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The guidance will be effective for the Company on January 1, 2017 and early adoption is permitted. The guidance is not expected to have a material effect on the Company’s consolidated financial statements.

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Crown Holdings, Inc.

C. Acquisitions

Empaque

On February 18, 2015, the Company completed its acquisition of Empaque, a leading manufacturer of beverage packaging in Mexico, from Heineken N.V., in a cash transaction valued at $1.2 billion. The addition of Empaque significantly increases the Company's presence in the growing Mexican market and substantially enhances the Company's strategic position in beverage cans, both regionally and globally.

The following table summarizes the consideration transferred to acquire Empaque and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date.

Fair value of consideration transferred
Cash	$	1,207
Total consideration	$	1,207
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net	106
Inventories	55
Prepaid expenses and other current assets	1
Intangible assets	460
Property, plant and equipment, net	294
Accounts payable and accrued liabilities	(89		)
Other non-current liabilities	(223		)
Total identifiable net assets	$	604
Goodwill	$	603

The acquired goodwill was assigned to the Company's Americas Beverage segment and is not expected to be deductible for tax purposes.

The acquired property, plant and equipment will be depreciated over the estimated remaining useful lives of the equipment in accordance with the Company's existing policies and procedures, primarily on a straight-line basis.

Intangible assets include $162 of customer relationships that will be amortized over 18 years and $298 for a long-term supply contract with Heineken affiliates that will be amortized over 15 years.

The Company has not finalized its valuation of the assets acquired and as a result has not yet finalized the determination of the fair value of assets acquired and liabilities assumed. The Company expects to finalize its purchase accounting within one year of the acquisition date.

During the three and nine months ended September 30, 2015, Empaque contributed sales of approximately $153 and $401, respectively.

Mivisa

On April 23, 2014 , the Company completed its previously announced acquisition of the sole shareholder of Mivisa Envases, S.A.U. (“Mivisa”) for $733, net of $28 in cash acquired, plus $977 of debt assumed. Mivisa, based in Murcia, Spain, primarily serves the vegetable, fruit, fish and meat markets and is the largest food can producer in both the Iberian Peninsula and Morocco.

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Crown Holdings, Inc.

The following table summarizes the final fair value of identifiable assets and liabilities assumed at the date of the acquisition.

Fair value of consideration transferred
Cash	$	733
Total consideration	$	733
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net	201
Inventories	195
Prepaid expenses and other current assets	11
Intangible assets	295
Property, plant and equipment, net	318
Net assets of business to be divested	9
Accounts payable and accrued liabilities	(159		)
Debt	(977		)
Other non-current liabilities	(98		)
Total identifiable net assets	$	(205	)
Goodwill	$	938

D. Accumulated Other Comprehensive Income

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

	Defined benefit plans			Foreign currency translation			Gains and losses on cash flow hedges			Total
Balance at December 31, 2013	$	(1,828	)	$	(658	)	$	(27	)	$	(2,513	)
Other comprehensive loss before reclassifications	—			(161		)	8			(153		)
Amounts reclassified from accumulated other comprehensive income	51			—			21			72
Other comprehensive income (loss)	51			(161		)	29			(81		)
Balance at September 30, 2014	$	(1,777	)	$	(819	)	$	2		$	(2,594	)
Balance at December 31, 2014	$	(1,781	)	$	(980	)	$	(4	)	$	(2,765	)
Other comprehensive income (loss) before reclassifications	16			(357		)	(28		)	(369		)
Amounts reclassified from accumulated other comprehensive income	32			—			13			45
Other comprehensive income (loss)	48			(357		)	(15		)	(324		)
Balance at September 30, 2015	$	(1,733	)	$	(1,337	)	$	(19	)	$	(3,089	)

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Crown Holdings, Inc.

The following table provides information about amounts reclassified from accumulated other comprehensive income.

	Amounts reclassified from accumulated other comprehensive income
	Three Months Ended						Nine Months Ended
Details about accumulated other	September 30						September 30						Affected line item in the
comprehensive income components	2015			2014			2015			2014			statement of operations
(Gains) losses on cash flow hedges
Commodities	$	12		$	(2	)	$	16		$	24		Cost of products sold
	12			(2		)	16			24			Total before tax
	(3		)	1			(4		)	(6		)	Provision for income taxes
	$	9		$	(1	)	$	12		$	18		Net of tax
Foreign exchange	$	—		$	(2	)	$	(1	)	$	(2	)	Net sales
	—			3			2			5			Cost of products sold
	—			1			1			3			Total before tax
	—			—			—			—			Provision for income taxes
	$	—		$	1		$	1		$	3		Net of tax
Total (gains) losses on cash flow hedges	$	9		$	—		$	13		$	21
Amortization of defined benefit plan items
Actuarial losses	$	26		$	33		$	81		$	97		(a)
Prior service credit	(14		)	(12		)	(38		)	(36		)	(a)
	12			21			43			61			Total before tax
	(3		)	(2		)	(11		)	(10		)	Provision for income taxes
	$	9		$	19		$	32		$	51		Net of tax
Total reclassifications for the period	$	18		$	19		$	45		$	72

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement cost. See Note N for further details.

E. Stock-Based Compensation

A summary of restricted stock transactions during the nine months ended September 30, 2015 follows:

	Number of shares
Non-vested stock awards outstanding at January 1, 2015	1,960,357
Awarded:
Time-vesting shares	268,680
Performance-based shares	201,092
Released:
Time-vesting shares	(373,741	)
Performance-based shares	(155,180	)
Forfeitures:
Time-vesting shares	(54,800	)
Performance-based shares	(61,008	)
Non-vested stock awards outstanding at September 30, 2015	1,785,400

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Crown Holdings, Inc.

In January 2015, the Company awarded shares of restricted stock to certain senior executives consisting of 93,480 time-vesting shares which vest ratably over three years and 201,092 performance-based shares which cliff vest at the end of three years. The number of performance-based shares that will ultimately vest is based on the level of market performance achieved, ranging between 0% and 200% of the shares originally awarded, and will be settled in stock. The market performance criteria is the Company's Total Shareholder Return ("TSR"), which includes share price appreciation and dividends paid, during the three-year term of the award measured against the TSR of a peer group of companies.

In June 2015, the Company granted a general award of 175,200 shares of time-vesting restricted and deferred stock. The shares vest ratably over four years commencing in 2017.

The weighted average grant-date fair value of the 2015 time-vesting stock awards was $53.56 and the performance-based stock awards was $49.50.

The fair value of the performance-based shares awarded in 2015 was calculated using a Monte Carlo valuation model, including a weighted average stock price volatility of 17.4%, an expected term of three years, and a weighted average risk-free interest rate of 1.06%.

At September 30, 2015, unrecognized compensation cost related to outstanding non-vested stock awards was $44. The weighted average period over which the expense is expected to be recognized is 2.5 years. The aggregate market value of the shares released and issued on the vesting dates was $28.

F. Receivables

	September 30, 2015			December 31, 2014
Accounts receivable	$	1,064		$	940
Less: allowance for doubtful accounts	(84		)	(88		)
Net trade receivables	980			852
Miscellaneous receivables	203			179
Receivables, net	$	1,183		$	1,031

The Company uses receivable securitization facilities in the normal course of business as part of managing its cash flows. In connection with the Company's North American receivable securitization facility, the Company recognized a deferred purchase price of $109 which was included in prepaid expenses and other current assets in the Company’s Consolidated Balance Sheet at September 30, 2015. The net change in deferred purchase price receivable was reflected in the receivables line item in the Company's Consolidated Statement of Cash Flows.

G. Inventories

Inventories are stated at the lower of cost or market, with cost for U.S. inventories principally determined under the first-in, first-out (“FIFO”) method. Non-U.S. inventories are principally determined under the FIFO or average cost method.

	September 30, 2015		December 31, 2014
Raw materials and supplies	$	623	$	684
Work in process	157		134
Finished goods	522		506
	$	1,302	$	1,324

H. Derivative and Other Financial Instruments

Fair Value Measurements

Under GAAP a framework exists for measuring fair value, providing a three-tier hierarchy of pricing inputs used to report assets and liabilities that are adjusted to fair value. Level 1 includes inputs such as quoted prices which are available

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Crown Holdings, Inc.

in active markets for identical assets or liabilities as of the report date. Level 2 includes inputs other than those available in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3

includes unobservable pricing inputs that are not corroborated by market data or other objective sources. The Company has no recurring items valued using Level 3 inputs other than certain pension plan assets.

The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets and liabilities measured at fair value and their placement within the fair value hierarchy.

The Company applies a market approach to value its commodity price hedge contracts. Prices from observable markets are used to develop the fair value of these financial instruments and they are reported under Level 1. The Company uses an income approach to value its foreign exchange forward contracts. These contracts are valued using a discounted cash flow model that calculates the present value of future cash flows under the terms of the contracts using market information as of the reporting date, such as foreign exchange spot and forward rates, and are reported under Level 2 of the fair value hierarchy.

Fair value disclosures for financial assets and liabilities that were accounted for at fair value on a recurring basis are provided later in this note. In addition, see Note J for fair value disclosures related to debt.

Derivative Financial Instruments

In the normal course of business the Company is subject to risk from adverse fluctuations in currency exchange rates, interest rates and commodity prices. The Company manages these risks through a program that includes the use of derivative financial instruments, primarily swaps and forwards. Counterparties to these contracts are major financial institutions. The Company is exposed to credit loss in the event of nonperformance by these counterparties. The Company does not use derivative instruments for trading or speculative purposes.

The Company’s objective in managing exposure to market risk is to limit the impact on earnings and cash flow. The extent to which the Company uses such instruments is dependent upon its access to these contracts in the financial markets and its success using other methods, such as netting exposures in the same currencies to mitigate foreign exchange risk and using sales agreements that permit the pass-through of commodity price and foreign exchange rate risk to customers.

For derivative financial instruments accounted for in hedging relationships, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective and the manner in which effectiveness will be assessed. The Company formally assesses, both at inception and at least quarterly thereafter, whether the hedging relationships are effective in offsetting changes in fair value or cash flows of the related underlying exposures. When a hedge no longer qualifies for hedge accounting the change in fair value from the date of the last effectiveness test is recognized in earnings. Any gain or loss which has accumulated in other comprehensive income at the date of the last effectiveness test is reclassified into earnings at the same time of the underlying exposure.

Cash Flow Hedges

The Company designates certain derivative financial instruments as cash flow hedges. No components of the hedging instruments are excluded from the assessment of hedge effectiveness. Changes in fair value of outstanding derivatives accounted for as cash flow hedges, except for ineffectiveness, are recorded in other comprehensive income until earnings are impacted by the hedged transaction. Classification of the gain or loss in the Consolidated Statements of Operations upon reclassification from comprehensive income is the same as that of the underlying exposure. Contracts outstanding at September 30, 2015 mature between one and thirty-seven months.

When the Company discontinues hedge accounting because it is no longer probable that an anticipated transaction will occur in the originally specified period, changes to fair value accumulated in other comprehensive income are recognized immediately in earnings.

The Company uses forward contracts to hedge anticipated purchases of various commodities, including aluminum, fuel oil and natural gas and these exposures are hedged by a central treasury unit.

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Crown Holdings, Inc.

The Company also designates certain foreign exchange contracts as cash flow hedges of anticipated foreign currency denominated sales or purchases. The Company manages these risks at the operating unit level. Often the hedging of foreign currency risk is performed in concert with related commodity price hedges.

The following table sets forth financial information about the impact on accumulated other comprehensive income (“AOCI”) and earnings from changes in the fair value of derivative instruments.

	Amount of gain/(loss)						Amount of gain/(loss)
	recognized in AOCI						reclassified from AOCI
	(effective portion)						into earnings
	Three Months Ended			Nine Months Ended			Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2015			September 30, 2015			September 30, 2015			September 30, 2015
Foreign exchange	$	1		$	(2	)	$	—		$	(1	)
Commodities	(15		)	(26		)	(9		)	(12		)
Total	$	(14	)	$	(28	)	$	(9	)	$	(13	)

	Amount of gain/(loss)					Amount of gain/(loss)
	recognized in AOCI					reclassified from AOCI
	(effective portion)					into earnings
	Three Months Ended			Nine Months Ended		Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2014			September 30, 2014		September 30, 2014			September 30, 2014
Foreign exchange	$	(2	)	$	—	$	(2	)	$	(3	)
Commodities	9			8		(1		)	(18		)
Total	$	7		$	8	$	(3	)	$	(21	)

For the nine months ended September 30, 2015, the Company recognized a gain of $2 ($1 net of tax), related to hedge ineffectiveness caused primarily by volatility in the metal premium component of aluminum prices.

For the three and nine months ended September 30, 2014, the Company recognized a gain of $2 and a loss of $1 (net of tax), respectively, related to hedge ineffectiveness caused primarily by volatility in the metal premium component of aluminum prices.

During the twelve month period ending September 30, 2016, a net loss of $18 ($14, net of tax) is expected to be reclassified to earnings. No amounts were reclassified during the nine months ended September 30, 2015 and 2014 in connection with anticipated transactions that were no longer considered probable.

Fair Value Hedges and Contracts Not Designated as Hedges

The Company designates certain derivative financial instruments as fair value hedges of recognized foreign-denominated assets and liabilities, generally trade accounts receivable and payable and unrecognized firm commitments. The notional values and maturity dates of the derivative instruments coincide with those of the hedged items. Changes in fair value of the derivative financial instruments, excluding time value, are offset by changes in fair value of the related hedged items.

Other than for firm commitments, amounts related to time value are excluded from the assessment and measurement of hedge effectiveness and are reported in earnings. Less than $1 was reported in earnings for the three and nine months ended September 30, 2015.

Certain derivative financial instruments, including foreign exchange contracts related to intercompany debt, were not designated in hedge relationships; however, they are effective economic hedges as the changes in their fair value, except

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Crown Holdings, Inc.

for time value, are offset by changes in re-measurement of the related hedged items. The Company’s primary use of these derivative instruments is to offset the earnings impact that fluctuations in foreign exchange rates have on certain monetary

assets and liabilities denominated in currencies other than the entity's functional currency. Changes in fair value of these derivative instruments are immediately recognized in earnings as foreign exchange adjustments.

The impact on earnings from foreign exchange contracts designated as fair value hedges was a loss of less than $1 and a gain of less than $1 for the three and nine months ended September 30, 2015, respectively, and loss of $3 and a loss of $2 for the three and nine months ended September 30, 2014, respectively . The impact on earnings from foreign exchange contracts not designated as hedges was a gain of $24 and a loss of $19 for the three and nine months ended September 30, 2015, respectively, and a loss of $25 and a loss of $38 for the same periods in 2014. These adjustments were reported within foreign exchange in the Consolidated Statements of Operations and were offset by changes in the fair values of the related underlying hedged items.

During the nine months ended September 30, 2015, certain commodity hedges did not meet the criteria for hedge accounting and therefore the change in their fair value during the quarter was recognized in earnings. For the three and nine months ended September 30, 2015, respectively, the Company recognized losses of $7 ($4, net of tax) and $5 ($3, net of tax) related to these ineffective hedges.

Net Investment Hedges

During the nine months ended September 30, 2015, the Company designated certain derivative and non-derivative financial instruments (debt) as hedges of its net investment in a euro-based subsidiary and recorded a loss of $11 ($7, net of tax) in accumulated other comprehensive income.

Fair Values of Derivative Financial Instruments and Valuation Hierarchy

The following table sets forth the fair value hierarchy for the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, respectively.

	Balance Sheet classification	Fair Value hierarchy	September 30, 2015		December 31, 2014
Derivative assets
Derivatives designated as hedges:
Foreign exchange	Other current assets	2	$	19	$	20
Commodities	Other current assets	2	4		2
Commodities	Other non-current assets	2	1		—
	Total		$	24	$	22
Derivative liabilities
Derivatives designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	$	15	$	20
Commodities	Accounts payable and accrued liabilities	2	23		10
Commodities	Other non-current liabilities	2	3		—
Derivatives not designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	2		15
Commodities	Accounts payable and accrued liabilities	2	5		—
Commodities	Other non-current liabilities	2	1		—
	Total		$	49	$	45

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Crown Holdings, Inc.

Offsetting of Derivative Assets and Liabilities

Certain derivative financial instruments are subject to agreements with counterparties similar to master netting arrangements and are eligible for offset. The Company has made an accounting policy election not to offset the fair

values of these instruments within the statement of financial position. In the table below, the aggregate fair values of the Company's derivative assets and liabilities are presented on both a gross and net basis, where appropriate.

	Gross amounts recognized in the Balance Sheet	Gross amounts not offset in the Balance Sheet	Net amount
Balance at September 30, 2015
Derivative assets	$24	$6	$18
Derivative liabilities	49	6	43
Balance at December 31, 2014
Derivative assets	22	4	18
Derivative liabilities	45	4	41

Notional Values of Outstanding Derivative Instruments

The aggregate U.S. dollar-equivalent notational values of outstanding derivative instruments in the Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 were:

	September 30, 2015		December 31, 2014
Derivatives in cash flow hedges:
Foreign exchange	$	223	$	678
Commodities	284		213
Derivatives in fair value hedges:
Foreign exchange	88		85
Derivatives not designated as hedges:
Foreign exchange	595		603
Commodities	61		—

I. Restructuring and Other

The Company recorded restructuring and other charges as follows:

	Three Months Ended					Nine Months Ended
	September 30					September 30
	2015		2014			2015		2014
Asset impairments and sales	$	14	$	(2	)	$	15	$	40
Restructuring	20		6			21		19
Transaction costs	—		—			15		14
Other costs	6		4			6		18
	40		8			$	57	91

Asset impairment and sales and restructuring in 2015 related primarily to projects in the Company's North America and European Food segments. Asset impairment and sales in 2014 related to the divestment of certain operations in connection with the acquisition of Mivisa. Restructuring costs in 2014 primarily related to severance costs in the Company's European Food segment. Transaction costs related to the acquisitions of Empaque in 2015 and Mivisa in 2014. Other costs in 2014 primarily related to the temporary relocation of production due to a labor dispute in the Company's Americas Beverage segment.

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Crown Holdings, Inc.

The tables below summarize the outstanding accrual balances associated with the current and prior restructuring actions.

2015 European Division Actions

During the three and nine months ended September 30, 2015, the Company recorded a charge of $13 to write-down the carrying value of fixed assets and $17 for termination benefits related to the announced closure of two facilities in the Company's European Food segment upon completion of consultation processes with employee representatives. The Company also recorded a charge of $5 related to the write-off of certain non-productive inventory which is included in cost of products sold. The closures are expected to reduce cost by eliminating excess capacity and consolidating manufacturing processes.

The facility closures are expected to result in the reduction of approximately 280 employees when completed in 2016. The Company expects to incur $12 of future charges related to this action.

The table below summarizes the restructuring accrual balances and utilization by cost type for this action.

	Termination benefits		Other exit costs		Total
Balance at January 1, 2015	$	—	$	—	$	—
Provision	17		—		$	17
Balance at September 30, 2015	$	17	$	—	$	17

2013 European Division Actions

Through September 30, 2015, the Company incurred costs of $31 related to an initiative to better align costs with ongoing market conditions in its European operations, primarily in its food can, aerosol can and specialty packaging business. The action resulted in the reduction of approximately 200 employees. The Company expects to pay the remaining liability in 2015 and does not expect to incur any additional charges related to this action.

The table below summarizes the restructuring accrual balances and utilization by cost type for this action.

	Termination benefits			Other exit costs		Total
Balance at January 1, 2015	$	14		$	—	$	14
Payments	(8		)	—		(8		)
Foreign currency translation	(1		)	—		(1		)
Balance at September 30, 2015	$	5		$	—	$	5

Other Actions

At September 30, 2015, the Company also had a restructuring accrual of $16 primarily related to actions taken in 2011 and 2012 to reduce manufacturing capacity and headcount in its European Aerosol and Specialty Packaging businesses. The Company expects to pay the liability through 2024 as certain employees have elected to receive payment as a fixed monthly sum over future years. The Company continues to review its supply and demand profile and long-term plans in Europe and it is possible that the Company may record additional restructuring charges in the future.

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Crown Holdings, Inc.

J. Debt

The Company’s outstanding debt was as follows:

	September 30, 2015			December 31, 2014
Short-term debt	$	61		$	75
Long-term debt
Senior secured borrowings:
Revolving credit facilities	$	45		$	—
Term loan facilities
U.S. dollar at LIBOR plus 1.75% due 2018	875			800
Euro (€700 at September 30, 2015) at EURIBOR plus 1.75% due 2018	782			847
Farm credit facility at LIBOR plus 2.00% due 2019	358			358
Senior notes and debentures:
U.S. dollar 6.25% due 2021	700			700
Euro (€650 at September 30, 2015) 4.0% due 2022	726			786
U.S. dollar 4.50% due 2023	1,000			1,000
Euro (€600 at September 30, 2015) 3.375% due 2025	671			—
U.S. dollar 7.375% due 2026	350			350
U.S. dollar 7.50% due 2096	64			64
Other indebtedness in various currencies	181			281
Unamortized discounts	(2		)	(2		)
Total long-term debt	5,750			5,184
Less: current maturities	(142		)	(177		)
Total long-term debt, less current maturities	$	5,608		$	5,007

The estimated fair value of the Company’s long-term borrowings, using a market approach incorporating Level 2 inputs such as quoted market prices for the same or similar issues, was $5,856 at September 30, 2015 and $5,346 at December 31, 2014.

In February 2015, to fund the acquisition of Empaque as described in Note C, the Company borrowed an additional $75 under its U.S. dollar term loan facility due in December 2018 and $675 under its U.S. dollar term loan facility due in February 2022.

In May 2015, the Company issued €600 ($671 at September 30, 2015) principal amount of 3.375% senior unsecured notes due 2025. The notes were issued at par by Crown European Holdings S.A., a subsidiary of the Company, and are unconditionally guaranteed by the Company and certain of its subsidiaries. The Company used these proceeds to repay its U.S. dollar term loan facility due in February 2022. In connection with the repayment of the term loan facility, the Company recorded a loss from early extinguishment of debt of $9 for the write off of deferred financing costs.

K. Asbestos-Related Liabilities

Crown Cork & Seal Company, Inc. (“Crown Cork”) is one of many defendants in a substantial number of lawsuits filed throughout the United States by persons alleging bodily injury as a result of exposure to asbestos. These claims arose from the insulation operations of a U.S. company, the majority of whose stock Crown Cork purchased in 1963. Approximately ninety days after the stock purchase, this U.S. company sold its insulation assets and was later merged into Crown Cork.

Prior to 1998, amounts paid to asbestos claimants were covered by a fund made available to Crown Cork under a 1985 settlement with carriers insuring Crown Cork through 1976, when Crown Cork became self-insured. The fund was depleted in 1998 and the Company has no remaining coverage for asbestos-related costs.

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Crown Holdings, Inc.

In recent years, the states of Alabama, Arizona, Arkansas, Florida, Georgia, Idaho, Indiana, Kansas, Michigan, Mississippi, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Utah, Wisconsin and Wyoming enacted legislation that limits asbestos-related liabilities under state law of companies such as Crown Cork that allegedly incurred these liabilities because they are successors by corporate merger to companies that had been involved with asbestos. The legislation, which applies to future and, with the exception of Arkansas, Georgia, South Carolina, South Dakota and Wyoming, pending claims, caps asbestos-related liabilities at the fair market value of the predecessor's total gross assets adjusted for inflation. Crown Cork has paid significantly more for asbestos-related claims than the total value of its predecessor's assets adjusted for inflation. Crown Cork has integrated the legislation into its claims defense strategy. The Company cautions, however, that the legislation may be challenged and there can be no assurance regarding the ultimate effect of the legislation on Crown Cork.

In June 2003, the state of Texas enacted legislation that limits the asbestos-related liabilities in Texas courts of companies such as Crown Cork that allegedly incurred these liabilities because they are successors by corporate merger to companies that had been involved with asbestos. The Texas legislation, which applies to future claims and pending claims, caps asbestos-related liabilities at the total gross value of the predecessor’s assets adjusted for inflation. Crown Cork has paid significantly more for asbestos-related claims than the total adjusted value of its predecessor’s assets.

On October 22, 2010, the Texas Supreme Court, in a 6-2 decision, reversed a lower court decision, Barbara Robinson v. Crown Cork & Seal Company, Inc., No. 14-04-00658-CV, Fourteenth Court of Appeals, Texas, which had upheld the dismissal of an asbestos-related case against Crown Cork. The Texas Supreme Court held that the Texas legislation was unconstitutional under the Texas Constitution when applied to asbestos-related claims pending against Crown Cork when the legislation was enacted in June 2003. The Company believes that the decision of the Texas Supreme Court is limited to retroactive application of the Texas legislation to asbestos-related cases that were pending against Crown Cork in Texas on June 11, 2003 and therefore, in its accrual, continues to assign no value to claims filed after June 11, 2003.

In December 2001, the Commonwealth of Pennsylvania enacted legislation that limits the asbestos-related liabilities of Pennsylvania corporations that are successors by corporate merger to companies involved with asbestos. The legislation limits the successor’s liability for asbestos to the acquired company’s asset value adjusted for inflation. Crown Cork has

paid significantly more for asbestos-related claims than the acquired company’s adjusted asset value. In November 2004, the legislation was amended to address a Pennsylvania Supreme Court decision (Ieropoli v. AC&S Corporation, et. al., No. 117 EM 2002) which held that the statute violated the Pennsylvania Constitution due to retroactive application. The Company cautions that the limitations of the statute, as amended, are subject to litigation and may not be upheld.

The Company further cautions that an adverse ruling in any litigation relating to the constitutionality or applicability to Crown Cork of one or more statutes that limits the asbestos-related liability of alleged defendants like Crown Cork could have a material impact on the Company.

During the nine months ended September 30, 2015, the Company paid $12 to settle outstanding claims and had claims activity as follows:

Beginning claims	54,000
New claims	2,000
Settlements or dismissals	(2,000	)
Ending claims	54,000

In the fourth quarter of each year, the Company performs an analysis of outstanding claims and categorizes these claims by year of exposure and state filed. As of December 31, 2014, the Company's outstanding claims were:

Claimants alleging first exposure after 1964	16,000
Claimants alleging first exposure before or during 1964 filed in:
Texas	13,000
Pennsylvania	2,000
Other states that have enacted asbestos legislation	6,000
Other states	17,000
Total claims outstanding	54,000

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Crown Holdings, Inc.

The outstanding claims in each period exclude approximately 19,000 inactive claims. Due to the passage of time, the Company considers it unlikely that the plaintiffs in these cases will pursue further action against the Company. The exclusion of these inactive claims had no effect on the calculation of the Company’s accrual as the claims were filed in states, as described above, where the Company’s liability is limited by statute.

With respect to claimants alleging first exposure to asbestos before or during 1964, the Company does not include in its accrual any amounts for settlements in states where the Company’s liability is limited by statute except for certain pending claims in Texas as described earlier.

With respect to post-1964 claims, regardless of the existence of asbestos legislation, the Company does not include in its accrual any amounts for settlement of these claims because of increased difficulty of establishing identification of relevant insulation products as the cause of injury. Given the Company's settlement experience with post-1964 claims, it does not believe that an adverse ruling in the Texas or Pennsylvania asbestos litigation cases, or in any other state that has enacted asbestos legislation, would have a material impact on the Company with respect to such claims.

As of December 31, the percentage of outstanding claims related to claimants alleging serious diseases (primarily mesothelioma and other malignancies) were as follows:

	2014		2013		2012
Total claims	22	%	21	%	19	%
Pre-1964 claims in states without asbestos legislation	41	%	39	%	36	%

Crown Cork has entered into arrangements with plaintiffs’ counsel in certain jurisdictions with respect to claims which are not yet filed, or asserted, against it. However, Crown Cork expects claims under these arrangements to be filed or asserted against Crown Cork in the future. The projected value of these claims is included in the Company’s estimated liability as of September 30, 2015.

As of September 30, 2015, the Company’s accrual for pending and future asbestos-related claims and related legal costs was $257, including $202 for unasserted claims. The Company’s accrual includes estimated probable costs for claims through the year 2024. The Company’s accrual excludes potential costs for claims beyond 2024 because the Company believes that the key assumptions underlying its accrual are subject to greater uncertainty as the projection period lengthens.

It is reasonably possible that the actual loss could be in excess of the Company’s accrual. The Company is unable to estimate the reasonably possible loss in excess of its accrual due to uncertainty in the following assumptions that underlie the Company’s accrual and the possibility of losses in excess of such accrual: the amount of damages sought by the claimant (which was not specified for approximately 88% of the claims outstanding at the end of 2014), the Company and claimant’s willingness to negotiate a settlement, the terms of settlements of other defendants with asbestos-related liabilities, the bankruptcy filings of other defendants (which may result in additional claims and higher settlements for

non-bankrupt defendants), the nature of pending and future claims (including the seriousness of alleged disease, whether claimants allege first exposure to asbestos before or during 1964 and the claimant’s ability to demonstrate the alleged link to Crown Cork), the volatility of the litigation environment, the defense strategies available to the Company, the level of future claims, the rate of receipt of claims, the jurisdiction in which claims are filed, and the effect of state asbestos legislation (including the validity and applicability of the Pennsylvania legislation to non-Pennsylvania jurisdictions, where the substantial majority of the Company’s asbestos cases are filed).

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Crown Holdings, Inc.

L. Commitments and Contingent Liabilities

The Company, along with others in most cases, has been identified by the EPA or a comparable state environmental agency as a Potentially Responsible Party (“PRP”) at a number of sites and has recorded aggregate accruals of $7 for its share of estimated future remediation costs at these sites. The Company has been identified as having either directly or indirectly disposed of commercial or industrial waste at the sites subject to the accrual, and where appropriate and supported by available information, generally has agreed to be responsible for a percentage of future remediation costs based on an estimated volume of materials disposed in proportion to the total materials disposed at each site. The Company has not had monetary sanctions imposed nor has the Company been notified of any potential monetary sanctions at any of the sites.

The Company has also recorded aggregate accruals of $6 for remediation activities at various worldwide locations that are owned by the Company and for which the Company is not a member of a PRP group. Although the Company believes

its accruals are adequate to cover its portion of future remediation costs, there can be no assurance that the ultimate payments will not exceed the amount of the Company’s accruals and will not have a material effect on its results of operations, financial position and cash flow. Any possible loss or range of potential loss that may be incurred in excess of the recorded accruals cannot be estimated.

In March 2015, the Bundeskartellamt, or German Federal Cartel Office (“FCO”), conducted unannounced inspections of the premises of several metal packaging manufacturers, including a German subsidiary of the Company. The local court order authorizing the inspection cited FCO suspicions of anti-competitive agreements in the market for the supply of metal packaging products. The FCO’s investigation is ongoing. To date, the FCO has not officially charged the Company or any of its subsidiaries with any violations of competition law. The Company has commenced an internal investigation into the matter and has discovered instances of inappropriate conduct by certain employees of German subsidiaries of the Company. The Company is cooperating with the FCO and submitted a leniency application which disclosed the findings of its internal investigation to date and which may lead to the reduction of penalties that the FCO may impose. If the FCO finds that the Company or any of its subsidiaries violated competition law, the FCO has wide discretion to levy fines. At this stage of the investigation the Company believes that a loss is probable. The Company is unable to predict the ultimate outcome of the FCO’s investigation and any additional losses that could be incurred, which could be material to the Company’s operating results and cash flows for the periods in which they are resolved or become reasonably estimable.

The Company and its subsidiaries are also subject to various other lawsuits and claims with respect to governmental, labor, environmental, securities, vendor and other matters arising out of the Company’s normal course of business. While the impact on future financial results is not subject to reasonable estimation because considerable uncertainty exists, management believes that the ultimate liabilities resulting from such lawsuits and claims will not materially affect the Company’s consolidated earnings, financial position or cash flow.

The Company has various commitments to purchase materials, supplies and utilities as part of the ordinary course of business. The Company’s basic raw materials for its products are steel and aluminum, both of which are purchased from multiple sources. The Company is subject to fluctuations in the cost of these raw materials and has periodically adjusted its selling prices to reflect these movements. There can be no assurance, however, that the Company will be able to fully recover any increases or fluctuations in raw material costs from its customers. The Company also has commitments for standby letters of credit and for purchases of capital assets.

At September 30, 2015, the Company was party to certain indemnification agreements covering environmental remediation, lease payments and other potential costs associated with properties sold or businesses divested. For agreements with defined liability limits the maximum potential amount of future liability was $9. The Company accrues for costs related to these items when it is probable that a liability has been incurred and the amount can be reasonably estimated. At September 30, 2015, the Company also had guarantees of $27 related to the residual values of leased assets.

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Crown Holdings, Inc.

M. Earnings Per Share

The following table summarizes the computations of basic and diluted earnings per share attributable to the Company.

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net income attributable to Crown Holdings	$	141	$	244	$	327	$	374
Weighted average shares outstanding:
Basic	138.1		137.4		137.9		137.2
Dilutive stock options and restricted stock	1.0		1.3		1.1		1.2
Diluted	139.1		138.7		139.0		138.4
Basic earnings per share	$	1.02	$	1.78	$	2.37	$	2.73
Diluted earnings per share	$	1.01	$	1.76	$	2.35	$	2.70

For the three and nine months ended September 30, 2014, 0.1 million contingently issuable common shares were excluded from the computation of diluted earnings per share because the effect would be anti-dilutive.

N. Pension and Other Postretirement Benefits

The components of net periodic pension and other postretirement benefits costs for the three and nine months ended September 30, 2015 and 2014 were as follows:

	Three Months Ended						Nine Months Ended
	September 30						September 30
Pension benefits – U.S. plans	2015			2014			2015			2014
Service cost	$	2		$	3		$	11		$	11
Interest cost	16			15			47			48
Expected return on plan assets	(25		)	(26		)	(75		)	(78		)
Recognized net loss	13			11			38			32
Net periodic cost	$	6		$	3		$	21		$	13

	Three Months Ended						Nine Months Ended
	September 30						September 30
Pension benefits – Non-U.S. plans	2015			2014			2015			2014
Service cost	$	6		$	4		$	19		$	17
Interest cost	31			34			94			115
Expected return on plan assets	(43		)	(43		)	(129		)	(145		)
Recognized prior service credit	(3		)	(3		)	(10		)	(11		)
Recognized net loss	13			15			40			52
Net periodic cost	$	4		$	7		$	14		$	28

	Three Months Ended						Nine Months Ended
	September 30						September 30
Other postretirement benefits	2015			2014			2015			2014
Service cost	$	1		$	1		$	1		$	2
Interest cost	2			1			6			7
Recognized prior service credit	(10		)	(8		)	(27		)	(25		)
Recognized net loss	—			2			3			6
Net periodic benefit	$	(7	)	$	(4	)	$	(17	)	$	(10	)

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Crown Holdings, Inc.

During the third quarter of 2015, the Company amended its U.S. retiree medical and life insurance plan to eliminate retiree medical benefits and to reduce life insurance benefits for certain active and retired employees. As a result of these changes, the Company was required to re-measure the associated plans as of September 1, 2015. The re-measurement and amendment resulted in a net decrease of $54 to the Company's postretirement benefit obligation which will be amortized over the average remaining service life of active participants.

O. Income Taxes

The provision for income taxes differs from the amount of income tax determined by applying the U.S. statutory federal income tax rate to pre-tax income as a result of the following items:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
U.S. statutory rate at 35%	$	73		$	78		$	178		$	168
Tax on foreign income	(27		)	(30		)	(66		)	(74		)
Tax contingencies	—			—			8			—
Valuation allowance	2			(91		)	7			(81		)
Non-deductible impairment charge	—			—			1			15
Other items, net	—			2			6			14
Income tax provision	$	48		$	(41	)	$	134		$	42

During the nine months ended September 30, 2015, the increase in tax contingencies is primarily due to an unfavorable Spanish tax court ruling in a case not directly involving the Company.

For the three and nine months ended September 30, 2014, the Company recognized an income tax benefit of $90 to fully release the valuation allowance against its net deferred tax assets in France. In recent years, the Company's operating profits in France were offset by interest expense. In the third quarter of 2014, the Company refinanced its European bonds resulting in significant interest savings. The impact of the refinancing and current low interest rate environment has significantly lowered the Company's interest expense in France. As the Company is currently generating income in France and is projecting income in the future, the Company has fully released its valuation allowance. Due to the Company's high level of debt in France, a significant increase in interest rates could cause the Company to incur losses which may result in recording additional valuation allowance in the future. The Company's loss carryforwards in France do not expire.

The nine months ended September 30, 2014, also included non-deductible impairment charges related to the divestment of certain operations in connection with the Company's acquisition of Mivisa.

P. Segment Information

The Company evaluates performance and allocates resources based on segment income. Segment income, which is not a defined term under GAAP, is defined by the Company as gross profit excluding the impact of fair value adjustments related to the sale of inventory acquired in an acquisition and the timing impact of hedge ineffectiveness, less selling and administrative expenses. Segment income should not be considered in isolation or as a substitute for net income data prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies.

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Crown Holdings, Inc.

The tables below present information about the Company's operating segments.

	External Sales				External Sales
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	722	$	570	$	2,080	$	1,713
North America Food	200		236		530		628
European Beverage	427		474		1,173		1,358
European Food	641		787		1,564		1,715
Asia Pacific	300		310		920		924
Total reportable segments	2,290		2,377		6,267		6,338
Non-reportable segments	170		217		468		632
Total	$	2,460	$	2,594	$	6,735	$	6,970

The primary sources of revenue included in non-reportable segments are the Company's aerosol can businesses in North America and Europe, the Company's specialty packaging business in Europe and the Company's tooling and equipment operations in the U.S. and United Kingdom.

	Intersegment Sales				Intersegment Sales
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	16	$	19	$	61	$	70
North America Food	1		1		3		5
European Beverage	1		—		1		1
European Food	26		22		77		69
Asia Pacific	2		—		2		—
Total reportable segments	46		42		144		145
Non-reportable segments	19		29		73		87
Total	$	65	$	71	$	217	$	232

Intersegment sales primarily include sales of ends and components used to manufacture cans, such as printed and coated metal, as well as parts and equipment used in the manufacturing process.

	Segment Income				Segment Income
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	116	$	77	$	300	$	241
North America Food	25		40		72		107
European Beverage	74		81		178		223
European Food	98		107		208		196
Asia Pacific	37		38		111		108
Total reportable segments	$	350	$	343	$	869	$	875

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Crown Holdings, Inc.

A reconciliation of segment income of reportable segments to income before income taxes and equity earnings is as follows:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Segment income of reportable segments	$	350		$	343		$	869		$	875
Segment income of non-reportable segments	25			26			62			72
Corporate and unallocated items	(54		)	(42		)	(148		)	(154		)
Restructuring and other	(40		)	(8		)	(57		)	(91		)
Loss from early extinguishments of debt	—			(34		)	(9		)	(34		)
Interest expense	(68		)	(64		)	(202		)	(188		)
Interest income	4			2			8			5
Foreign exchange	(9		)	2			(14		)	(4		)
Income before income taxes	$	208		$	225		$	509		$	481

Corporate and unallocated items includes corporate and division administrative costs, technology costs, and unallocated items such as the U.S. and U.K. pension plan costs, fair value adjustments for the sale of inventory acquired in an acquisition and the timing impact of hedge ineffectiveness.

24

Crown Holdings, Inc.

Q. Condensed Combining Financial Information

Crown Cork & Seal Company, Inc. (Issuer), a 100% owned subsidiary, has $350 principal amount of 7.375% senior notes due 2026 and $64 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:

•statements of comprehensive income for the three and nine months ended September 30, 2015 and 2014,

•balance sheets as of September 30, 2015 and December 31, 2014, and

•statements of cash flows for the nine months ended September 30, 2015 and 2014

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2015

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,460					$	2,460
Cost of products sold, excluding depreciation and amortization						1,984						1,984
Depreciation and amortization						61						61
Gross profit						415						415
Selling and administrative expense			$	3		91						94
Restructuring and other						40						40
Net interest expense			25			39						64
Foreign exchange						9						9
Income/(loss) before income taxes			(28		)	236						208
Provision for / (benefit from) income taxes			(15		)	63						48
Equity earnings / (loss) in affiliates	$	141	110						$	(251	)	—
Net income	141		97			173			(251		)	160
Net income attributable to noncontrolling interests						(19		)				(19		)
Net income attributable to Crown Holdings	$	141	$	97		$	154		$	(251	)	$	141
Comprehensive income	$	9	$	35		$	38		$	(57	)	$	25
Comprehensive income attributable to noncontrolling interests						(16		)				(16		)
Comprehensive income attributable to Crown Holdings	$	9	$	35		$	22		$	(57	)	$	9

25

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2014

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,594					$	2,594
Cost of products sold, excluding depreciation and amortization						2,119						2,119
Depreciation and amortization						53						53
Gross profit						422						422
Selling and administrative expense			$	2		93						95
Restructuring and other						8						8
Loss from early extinguishment of debt						34						34
Net interest expense			23			39						62
Foreign exchange						(2		)				(2		)
Income/(loss) before income taxes			(25		)	250						225
Provision for / (benefit from) income taxes			(7		)	(34		)				(41		)
Equity earnings / (loss) in affiliates	$	244	245						$	(489	)	—
Net income	244		227			284			(489		)	266
Net income attributable to noncontrolling interests						(22		)				(22		)
Net income attributable to Crown Holdings	$	244	$	227		$	262		$	(489	)	$	244
Comprehensive income	$	121	$	104		$	160		$	(243	)	$	142
Comprehensive income attributable to noncontrolling interests						(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	121	$	104		$	139		$	(243	)	$	121

26

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2015

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,735					$	6,735
Cost of products sold, excluding depreciation and amortization						5,487						5,487
Depreciation and amortization						174						174
Gross profit						1,074						1,074
Selling and administrative expense			$	8		283						291
Restructuring and other						57						57
Loss from early extinguishment of debt						9						9
Net interest expense			76			118						194
Foreign exchange						14						14
Income/(loss) before income taxes			(84		)	593						509
Provision for / (benefit from) income taxes			(24		)	158						134
Equity earnings / (loss) in affiliates	$	327	298						$	(625	)	—
Net income	327		238			435			(625		)	375
Net income attributable to noncontrolling interests						(48		)				(48		)
Net income attributable to Crown Holdings	$	327	$	238		$	387		$	(625	)	$	327
Comprehensive income	$	3	$	73		$	106		$	(136	)	$	46
Comprehensive income attributable to noncontrolling interests						(43		)				(43		)
Comprehensive income attributable to Crown Holdings	$	3	$	73		$	63		$	(136	)	$	3

27

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2014

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,970					$	6,970
Cost of products sold, excluding depreciation and amortization						5,740						5,740
Depreciation and amortization						135						135
Gross profit						1,095						1,095
Selling and administrative expense			$	7		295						302
Restructuring and other			14			77						91
Loss from early extinguishment of debt						34						34
Net interest expense			70			113						183
Foreign exchange						4						4
Income/(loss) before income taxes			(91		)	572						481
Provision for / (benefit from) income taxes			(16		)	58						42
Equity earnings / (loss) in affiliates	$	374	436						$	(810	)	—
Net income	374		361			514			(810		)	439
Net income attributable to noncontrolling interests						(65		)				(65		)
Net income attributable to Crown Holdings	$	374	$	361		$	449		$	(810	)	$	374
Comprehensive Income	$	293	$	280		$	435		$	(648	)	$	360
Comprehensive income attributable to noncontrolling interests						(67		)				(67		)
Comprehensive income attributable to Crown Holdings	$	293	$	280		$	368		$	(648	)	$	293

28

Crown Holdings, Inc.

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2015

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	466				$	466
Receivables, net					1,183					1,183
Inventories					1,302					1,302
Prepaid expenses and other current assets	$	1	$	67	243					311
Total current assets	1		67		3,194					3,262
Intercompany debt receivables					3,786		$	(3,786	)	—
Investments	3,064		2,474				(5,538		)	—
Goodwill and intangible assets					3,664					3,664
Property, plant and equipment, net					2,614					2,614
Other non-current assets			397		292					689
Total	$	3,065	$	2,938	$	13,550	$	(9,324	)	$	10,229
Liabilities and equity
Current liabilities
Short-term debt					$	61				$	61
Current maturities of long-term debt					142					142
Accounts payable and accrued liabilities	$	19	$	41	2,467					2,527
Total current liabilities	19		41		2,670					2,730
Long-term debt, excluding current maturities			412		5,196					5,608
Long-term intercompany debt	2,906		880				$	(3,786	)	—
Postretirement and pension liabilities					786					786
Other non-current liabilities			297		375					672
Commitments and contingent liabilities
Noncontrolling interests					293					293
Crown Holdings shareholders’ equity/(deficit)	140		1,308		4,230		(5,538		)	140
Total equity/(deficit)	140		1,308		4,523		(5,538		)	433
Total	$	3,065	$	2,938	$	13,550	$	(9,324	)	$	10,229

29

Crown Holdings, Inc.

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2014

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	965				$	965
Receivables, net					1,031					1,031
Inventories					1,324					1,324
Prepaid expenses and other current assets	$	1	$	69	186					256
Assets held for sale					48					48
Total current assets	1		69		3,554					3,624
Intercompany debt receivables					2,885		$	(2,885	)	—
Investments	2,199		2,350				(4,549		)	—
Goodwill and intangible assets					2,926					2,926
Property, plant and equipment, net					2,437					2,437
Other non-current assets			397		324					721
Total	$	2,200	$	2,816	$	12,126	$	(7,434	)	$	9,708
Liabilities and equity
Current liabilities
Short-term debt					$	75				$	75
Current maturities of long-term debt					177					177
Accounts payable and accrued liabilities	$	20	$	35	2,596					2,651
Liabilities related to assets held for sale					23					23
Total current liabilities	20		35		2,871					2,926
Long-term debt, excluding current maturities			412		4,595					5,007
Long-term intercompany debt	2,061		824				$	(2,885	)	—
Postretirement and pension liabilities					871					871
Other non-current liabilities			310		207					517
Commitments and contingent liabilities
Noncontrolling interests					268					268
Crown Holdings shareholders’ equity/(deficit)	119		1,235		3,314		(4,549		)	119
Total equity/(deficit)	119		1,235		3,582		(4,549		)	387
Total	$	2,200	$	2,816	$	12,126	$	(7,434	)	$	9,708

30

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2015

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	24		$	(65	)	$	356					$	315
Cash flows from investing activities
Capital expenditures							(176		)				(176		)
Purchase of business							(1,207		)				(1,207		)
Proceeds from sale of property, plant and equipment							3						3
Proceeds from sale of business							33						33
Intercompany investing activities	(865		)	9			865			$	(9	)	—
Net investment hedge settlements							(11		)				(11		)
Other							(16		)				(16		)
Net cash provided by/(used for) investing activities	(865		)	9			(509		)	(9		)	(1,374		)
Cash flows from financing activities
Proceeds from long-term debt							1,435						1,435
Payments of long-term debt							(780		)				(780		)
Net change in revolving credit facility and short-term debt							34						34
Net change in long-term intercompany balances	845			56			(901		)				—
Debt issue costs							(18		)				(18		)
Common stock issued	5												5
Common stock repurchased	(9		)										(9		)
Dividends paid							(9		)	9			—
Contributions from noncontrolling interests							3						3
Dividend paid to noncontrolling interests							(21		)				(21		)
Foreign exchange derivatives related to debt							(38		)				(38		)
Net cash provided by/(used for) financing activities	841			56			(295		)	9			611
Effect of exchange rate changes on cash and cash equivalents							(51		)				(51		)
Net change in cash and cash equivalents	—			—			(499		)	—			(499		)
Cash and cash equivalents at January 1							965						965
Cash and cash equivalents at September 30	$	—		$	—		$	466		$	—		$	466

31

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2014

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	14		$	(72	)	$	67					$	9
Cash flows from investing activities
Capital expenditures							(212		)				(212		)
Purchase of business							(733		)				(733		)
Proceeds from sale of property, plant and equipment							9						9
Proceeds from sale of business							22						22
Intercompany investing activities	(941		)	51			941			$	(51	)	—
Other							2						2
Net cash provided by/(used for) investing activities	(941		)	51			29			(51		)	(912		)
Cash flows from financing activities
Proceeds from long-term debt							2,742						2,742
Payments of long-term debt							(1,720		)				(1,720		)
Net change in revolving credit facility and short-term debt							(232		)				(232		)
Net change in long-term intercompany balances	918			21			(939		)				—
Debt issue costs							(41		)				(41		)
Common stock issued	11												11
Common stock repurchased	(2		)										(2		)
Dividends paid							(51		)	51			—
Purchase of noncontrolling interests							(93		)				(93		)
Dividend paid to noncontrolling interests							(45		)				(45		)
Foreign exchange derivatives related to debt							(14		)				(14		)
Net cash provided by/(used for) financing activities	927			21			(393		)	51			606
Effect of exchange rate changes on cash and cash equivalents							(12		)				(12		)
Net change in cash and cash equivalents	—			—			(309		)	—			(309		)
Cash and cash equivalents at January 1							689						689
Cash and cash equivalents at September 30	$	—		$	—		$	380		$	—		$	380

32

Crown Holdings, Inc.

Crown Americas, LLC, Crown Americas Capital Corp. II and Crown Americas Capital Corp. III (collectively, the Issuers), 100% owned subsidiaries of the Company, have outstanding $700 principal amount of 6.25% senior notes due 2021 and $1,000 principal amount of 4.5% senior notes due 2023, 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:

• statements of comprehensive income for the three and nine months ended September 30, 2015 and 2014,

• balance sheets as of September 30, 2015 and December 31, 2014, and

• statements of cash flows for the nine months ended September 30, 2015 and 2014

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2015

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	527		$	1,933					$	2,460
Cost of products sold, excluding depreciation and amortization						415			1,569						1,984
Depreciation and amortization						8			53						61
Gross profit						104			311						415
Selling and administrative expense			$	2		37			55						94
Restructuring and other						3			37						40
Net interest expense			23			23			18						64
Technology royalty						(13		)	13						—
Foreign exchange			3						9			$	(3	)	9
Income/(loss) before income taxes			(28		)	54			179			3			208
Provision for / (benefit from) income taxes			(11		)	15			43			1			48
Equity earnings / (loss) in affiliates	$	141	70			58						(269		)	—
Net income	141		53			97			136			(267		)	160
Net income attributable to noncontrolling interests									(19		)				(19		)
Net income attributable to Crown Holdings	$	141	$	53		$	97		$	117		$	(267	)	$	141
Comprehensive income	$	9	$	48		$	35		$	(25	)	$	(42	)	$	25
Comprehensive income attributable to noncontrolling interests									(16		)				(16		)
Comprehensive income attributable to Crown Holdings	$	9	$	48		$	35		$	(41	)	$	(42	)	$	9

33

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2014

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	571		$	2,023					$	2,594
Cost of products sold, excluding depreciation and amortization						445			1,674						2,119
Depreciation and amortization						8			45						53
Gross profit						118			304						422
Selling and administrative expense			$	3		32			60						95
Restructuring and other						1			7						8
Loss from early extinguishment of debt									34						34
Net interest expense			16			23			23						62
Technology royalty						(16		)	16						—
Foreign exchange									(2		)				(2		)
Income/(loss) before income taxes			(19		)	78			166						225
Provision for / (benefit from) income taxes			(7		)	33			(67		)				(41		)
Equity earnings / (loss) in affiliates	$	244	71			182						$	(497	)	—
Net income	244		59			227			233			(497		)	266
Net income attributable to noncontrolling interests									(22		)				(22		)
Net income attributable to Crown Holdings	$	244	$	59		$	227		$	211		$	(497	)	$	244
Comprehensive income	$	121	$	62		$	104		$	106		$	(251	)	$	142
Comprehensive income attributable to noncontrolling interests									(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	121	$	62		$	104		$	85		$	(251	)	$	121

34

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2015

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,555		$	5,180					$	6,735
Cost of products sold, excluding depreciation and amortization						1,235			4,252						5,487
Depreciation and amortization						24			150						174
Gross profit						296			778						1,074
Selling and administrative expense			$	7		115			169						291
Restructuring and other						5			52						57
Loss from early extinguishment of debt			9												9
Net interest expense			67			69			58						194
Technology royalty						(32		)	32						—
Foreign exchange			11						14			$	(11	)	14
Income/(loss) before income taxes			(94		)	139			453			11			509
Provision for / (benefit from) income taxes			(36		)	61			105			4			134
Equity earnings / (loss) in affiliates	$	327	158			160						(645		)	—
Net income	327		100			238			348			(638		)	375
Net income attributable to noncontrolling interests									(48		)				(48		)
Net income attributable to Crown Holdings	$	327	$	100		$	238		$	300		$	(638	)	$	327
Comprehensive Income	$	3	$	101		$	73		$	(5	)	$	(126	)	$	46
Comprehensive income attributable to noncontrolling interests									(43		)				(43		)
Comprehensive income attributable to Crown Holdings	$	3	$	101		$	73		$	(48	)	$	(126	)	$	3

35

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2014

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,642		$	5,328					$	6,970
Cost of products sold, excluding depreciation and amortization						1,305			4,435						5,740
Depreciation and amortization						23			112						135
Gross profit						314			781						1,095
Selling and administrative expense			$	7		105			190						302
Restructuring and other			1			44			46						91
Loss from early extinguishment of debt									34						34
Net interest expense			43			66			74						183
Technology royalty						(40		)	40						—
Foreign exchange									4						4
Income/(loss) before income taxes			(51		)	139			393						481
Provision for / (benefit from) income taxes			(19		)	74			(13		)				42
Equity earnings / (loss) in affiliates	$	374	170			296						$	(840	)	—
Net income	374		138			361			406			(840		)	439
Net income attributable to noncontrolling interests									(65		)				(65		)
Net income attributable to Crown Holdings	$	374	$	138		$	361		$	341		$	(840	)	$	374
Comprehensive income	$	293	$	151		$	280		$	314		$	(678	)	$	360
Comprehensive income attributable to noncontrolling interests									(67		)				(67		)
Comprehensive income attirbutable to Crown Holdings	$	293	$	151		$	280		$	247		$	(678	)	$	293

36

Crown Holdings, Inc.

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2015

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	32			$	434				$	466
Receivables, net					$	7	1,176					1,183
Intercompany receivables					41		9		$	(50	)	—
Inventories					281		1,021					1,302
Prepaid expenses and other current assets	$	1	1		76		233					311
Total current assets	1		33		405		2,873		(50		)	3,262
Intercompany debt receivables			3,201		3,665		693		(7,559		)	—
Investments	3,064		2,158		805				(6,027		)	—
Goodwill and intangible assets					472		3,192					3,664
Property, plant and equipment, net			1		330		2,283					2,614
Other non-current assets			45		394		250					689
Total	$	3,065	$	5,438	$	6,071	$	9,291	$	(13,636	)	$	10,229
Liabilities and equity
Current liabilities
Short-term debt							$	61				$	61
Current maturities of long-term debt			$	48			94					142
Accounts payable and accrued liabilities	$	19	24		$	485	1,999					2,527
Intercompany payables					9		41		$	(50	)	—
Total current liabilities	19		72		494		2,195		(50		)	2,730
Long-term debt, excluding current maturities			2,886		412		2,310					5,608
Long-term intercompany debt	2,906		1,266		3,178		209		(7,559		)	—
Postretirement and pension liabilities					384		402					786
Other non-current liabilities					295		377					672
Commitments and contingent liabilities
Noncontrolling interests							293					293
Crown Holdings shareholders’ equity/(deficit)	140		1,214		1,308		3,505		(6,027		)	140
Total equity/(deficit)	140		1,214		1,308		3,798		(6,027		)	433
Total	$	3,065	$	5,438	$	6,071	$	9,291	$	(13,636	)	$	10,229

37

Crown Holdings, Inc.

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2014

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	128			$	837				$	965
Receivables, net					$	18	1,013					1,031
Intercompany receivables					20		11		$	(31	)	—
Inventories					291		1,033					1,324
Prepaid expenses and other current assets	$	1	4		75		176					256
Assets held for sale							48					48
Total current assets	1		132		404		3,118		(31		)	3,624
Intercompany debt receivables			2,415		2,640		27		(5,082		)	—
Investments	2,199		2,005		850				(5,054		)	—
Goodwill and intangible assets					473		2,453					2,926
Property, plant and equipment, net			1		328		2,108					2,437
Other non-current assets			51		413		257					721
Total	$	2,200	$	4,604	$	5,108	$	7,963	$	(10,167	)	$	9,708
Liabilities and equity
Current liabilities
Short-term debt							$	75				$	75
Current maturities of long-term debt					$	44	133					177
Accounts payable and accrued liabilities	$	20	$	49	480		2,102					2,651
Intercompany payables					11		20		$	(31	)	—
Liabilities related to assets held for sale							23					23
Total current liabilities	20		49		535		2,353		(31		)	2,926
Long-term debt, excluding current maturities			2,858		368		1,781					5,007
Long-term intercompany debt	2,061		584		2,199		238		(5,082		)	—
Postretirement and pension liabilities					464		407					871
Other non-current liabilities					307		210					517
Commitments and contingent liabilities
Noncontrolling interests							268					268
Crown Holdings shareholders’ equity/(deficit)	119		1,113		1,235		2,706		(5,054		)	119
Total equity/(deficit)	119		1,113		1,235		2,974		(5,054		)	387
Total	$	2,200	$	4,604	$	5,108	$	7,963	$	(10,167	)	$	9,708

38

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2015

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	24		$	(53	)	$	76		$	268					$	315
Cash flows from investing activities
Capital expenditures							(30		)	(146		)				(176		)
Purchase of business										(1,207		)				(1,207		)
Proceeds from sale of property, plant and equipment							1			2						3
Proceeds from sale of business										33						33
Intercompany investing activities	(865		)	7			9			865			$	(16	)	—
Net investment hedge settlements				(11		)										(11		)
Other							(10		)	(6		)				(16		)
Net cash provided by/(used for) investing activities	(865		)	(4		)	(30		)	(459		)	(16		)	(1,374		)
Cash flows from financing activities
Proceeds from long-term debt				750						685						1,435
Payments of long-term debt				(675		)				(105		)				(780		)
Net change in revolving credit facility and short-term debt										34						34
Net change in long-term intercompany balances	845			(104		)	(46		)	(695		)				—
Debt issue costs				(10		)				(8		)				(18		)
Common stock issued	5															5
Common stock repurchased	(9		)													(9		)
Dividends paid										(16		)	16			—
Contributions from noncontrolling interests										3						3
Dividends paid to noncontrolling interests										(21		)				(21		)
Foreign exchange derivatives related to debt										(38		)				(38		)
Net cash provided by/(used for) financing activities	841			(39		)	(46		)	(161		)	16			611
Effect of exchange rate changes on cash and cash equivalents										(51		)				(51		)
Net change in cash and cash equivalents	—			(96		)	—			(403		)	—			(499		)
Cash and cash equivalents at January 1				128						837						965
Cash and cash equivalents at September 30	$	—		$	32		$	—		$	434		$	—		$	466

39

Crown Holdings, Inc.

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2014

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	14		$	(48	)	$	65		$	(22	)				$	9
Cash flows from investing activities
Capital expenditures							(27		)	(185		)				(212		)
Purchase of business										(733		)				(733		)
Proceeds from sale of property, plant and equipment							4			5						9
Proceeds from sale of business										22						22
Intercompany investing activities	(941		)	5			51			941			$	(56	)	—
Other										2						2
Net cash provided by/(used for) investing activities	(941		)	5			28			52			(56		)	(912		)
Cash flows from financing activities
Proceeds from long-term debt				942						1,800						2,742
Payments of long-term debt										(1,720		)				(1,720		)
Net change in revolving credit facility and short-term debt										(232		)				(232		)
Net change in long-term intercompany balances	918			(1,015		)	(18		)	115						—
Debt issue costs				(24		)				(17		)				(41		)
Common stock issued	11															11
Common stock repurchased	(2		)													(2		)
Dividends paid										(56		)	56			—
Purchase of noncontrolling interests							(76		)	(17		)				(93		)
Dividends paid to noncontrolling interests										(45		)				(45		)
Foreign exchange derivatives related to debt										(14		)				(14		)
Net cash provided by/(used for) financing activities	927			(97		)	(94		)	(186		)	56			606
Effect of exchange rate changes on cash and cash equivalents										(12		)				(12		)
Net change in cash and cash equivalents	—			(140		)	(1		)	(168		)	—			(309		)
Cash and cash equivalents at January 1				177			2			510						689
Cash and cash equivalents at September 30	$	—		$	37		$	1		$	342		$	—		$	380

40

Crown Holdings, Inc.

PART I - FINANCIAL INFORMATION

Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations

(dollars in millions)

Introduction

The following discussion presents management's analysis of the results of operations for the three and nine months ended September 30, 2015 compared to 2014 and changes in financial condition and liquidity from December 31, 2014. This discussion should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, along with the consolidated financial statements and related notes included in and referred to within this report.

Business Strategy and Trends

The Company's strategy is to grow its businesses in targeted international growth markets, while improving operations and results in more mature markets through disciplined pricing, cost control and careful capital allocation.

The Company identifies and evaluates growth opportunities through capacity additions in existing plants, new plants in developing markets that it already knows and understands, and potential strategic acquisitions in geographic areas and product lines in which it already operates. In response to increasing global customer demand for beverage cans in non-standard sizes, commonly called "specialty cans", the Company will continue to make investments in converting existing capacity or adding new capacity for non-standard can sizes. The Company rigorously evaluates each investment opportunity against a variety of metrics and every approved project is undertaken with an eye toward creating long-term shareholder value. Cash flows generated from the Company's operations may be reinvested in the business, used for acquisitions, used to repay debt or returned to shareholders through share repurchases or possible future dividends. Following the acquisition of Empaque as described below, the Company's primary focus in 2015 is to utilize cash flow to reduce leverage. The Company does not presently anticipate any share repurchases or dividends in 2015.

In recent years, the Company has developed its beverage can platform in emerging markets with particular focus on Asia, Brazil and Eastern Europe. Beverage can volume growth in these markets has been driven by increased per capita incomes and consumption, combined with an increased preference for cans over other forms of beverage packaging.

In April 2014, the Company completed its acquisition of Mivisa, the largest food can producer in both the Iberian Peninsula and Morocco; primarily serving the vegetable, fruit, fish and meat markets in a cash transaction valued at $1.7 billion. In February 2015, the Company completed its acquisition of Empaque, a leading manufacturer for the beverage industry in Mexico, from Heineken N.V., in a cash transaction valued at $1.2 billion. Accompanying the Empaque transaction are long-term supply agreements with Heineken affiliates which are expected to provide a stable cash flow base. In February 2015, the Company announced plans to construct a new beverage can plant in Monterrey, Mexico. The addition of Empaque and the Monterrey facility significantly increases the Company's presence in the growing Mexican market and substantially enhances the Company's strategic position in beverage cans, both regionally and globally.

Beverage can sales unit volumes in the Company's mature markets have been stable to slightly declining in North America and slightly increasing in Europe. Global food and aerosol can sales unit volumes have been stable to declining in recent years. While the opportunity for organic volume growth in the Company's mature markets is not comparable to that in targeted international growth markets, the Company continues to generate strong returns on invested capital and significant cash flow from these businesses. The Company monitors capacity across all of its businesses and, where necessary, may take action such as closing a plant or reducing headcount to better manage its costs. Any or all of these actions may result in additional restructuring charges in the future which may be material.

As part of the Company's efforts to manage cost, it attempts to pass-through increases in the cost of aluminum and steel to its customers. In the Americas Beverage segment, the Company has generally been able to pass-through increases in aluminum premium costs to its customers. In the European Beverage segment, the Company has generally been unable to pass-through increases in aluminum premium costs to its customers. There can be no assurance that the Company will be able to recover from its customers the impact of any such increased costs. Aluminum and steel prices can be subject to significant volatility and there has not been a consistent and predictable trend in pricing.

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Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

In assessing the Company's performance, the key performance measure used is segment income, a non-GAAP measure generally defined by the Company as gross profit excluding the impact of fair value adjustments related to the sale of inventory acquired in an acquisition and the timing impact of hedge ineffectiveness, less selling and administrative expenses.

On July 23, 2015, John W. Conway, informed the Board of his decision to retire from his role as Chief Executive Officer of the Company effective January 1, 2016. Mr. Conway will continue to serve on the Company’s Board as non-executive Chairman. The Board has elected Timothy J. Donahue, the Company’s current President and Chief Operating Officer, to assume the position of President and Chief Executive Officer effective January 1, 2016.  Upon his retirement, Mr. Conway will be entitled to a lump-sum payment of $32 under the Company’s unfunded Senior Executive Retirement Plan (“SERP”) and accelerated vesting of restricted stock awards. The Company anticipates recording a pre-tax charge of approximately $7 in connection with Mr. Conway’s retirement benefits during 2016 and the $32 payable under the SERP in 2016 will reduce the Company’s cash flows during the periods in which it is paid.

Results of Operations

The foreign currency translation impacts referred to below were primarily due to changes in the euro and pound sterling in the Company's European businesses, the Brazilian real, Canadian dollar and Mexican peso in the Company's Americas segments and the Chinese renminbi and Thai baht in the Company's Asia Pacific segment.

Net Sales and Segment Income

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Net sales	$	2,460		$	2,594		$	6,735		$	6,970
Beverage cans and ends as a percentage of net sales	52		%	48		%	56		%	53		%
Food cans and ends as a percentage of net sales	31		%	36		%	28		%	31		%

Three months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to the impact of foreign currency translation, partially offset by the acquisition of Empaque. Net sales would have been $281 higher using exchange rates in effect during 2014.

Nine months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to the impact of foreign currency translation, partially offset by the acquisition of Empaque and an additional four months of Mivisa. Net sales would have been $694 higher using exchange rates in effect during 2014.

Discussion and analysis of net sales and segment income by segment follows.

Americas Beverage

The Americas Beverage segment manufactures aluminum beverage cans, ends, steel crowns, glass bottles and aluminum closures and supplies a variety of customers from its operations in the U.S., Brazil, Canada, Colombia and Mexico. The U.S. and Canadian beverage can markets are mature markets which have experienced slightly declining volumes in recent years. In Brazil, the Company's sales unit volumes have increased in recent years primarily due to market growth driven by increased per capita incomes and consumption, combined with an increased preference for cans over other forms of beverage packaging.

In February 2015, the Company completed its acquisition of Empaque, a leading manufacturer of beverage packaging in Mexico. Empaque has been integrated with the Company's existing Americas Beverage business.

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Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

Net sales and segment income in the Americas Beverage segment are as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net sales	$	722	$	570	$	2,080	$	1,713
Segment income	116		77		300		241

Three months ended September 30, 2015 compared to 2014

Net sales increased $153 due to the acquisition of Empaque and $46 from increased sales unit volumes primarily in the U.S. and Mexico, partially offset by the impact of foreign currency translation.

Segment income increased $28 due to the acquisition of Empaque, $12 from increased sales unit volumes and improved plant operations.

Nine months ended September 30, 2015 compared to 2014

Net sales increased $401 due to the acquisition of Empaque and $48 from increased sales unit volumes, partially offset by the impact of foreign currency translation. Sales unit volumes were higher in the U.S., Canada and Mexico, partially offset by lower unit volume in Brazil.

Segment income increased $71 due to the acquisition of Empaque, partially offset by the impact of foreign currency translation.

North America Food

The North America Food segment manufactures steel and aluminum food cans and ends and metal vacuum closures and supplies a variety of customers from its operations in the U.S. and Canada. The North American food can and closures market is a mature market which has experienced stable to slightly declining volumes in recent years. In the third quarter of 2015, the Company announced the closure of two North America food can plants to more appropriately align capacity with customer demand and reduce costs.

Net sales and segment income in the North America Food segment are as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net sales	$	200	$	236	$	530	$	628
Segment income	25		40		72		107

Three months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to a 16% decline in sales unit volumes primarily attributable to the loss of a large customer and $7 from the impact of foreign currency translation.

Segment income decreased primarily due to lower sales unit volumes and higher costs.

Nine months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to an 18% decline in sales unit volumes primarily attributable to the loss of certain customers and $12 from the impact of foreign currency translation.

Segment income decreased primarily due to lower sales unit volumes and higher costs.

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Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

European Beverage

The Company's European Beverage segment manufactures steel and aluminum beverage cans and ends and supplies a variety of customers from its operations throughout Europe, the Middle East and North Africa. In recent years, the European beverage can market has been growing.

In September 2015, the Company announced plans to invest in a second line at its Osmaniye, Turkey plant in response to growing demand. The new line is expected to be operational in the first quarter of 2017 and have initial annual production capacity of approximately 900 million two-piece aluminum beverage cans in multiple sizes.

Net sales and segment income in the European Beverage segment are as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net sales	$	427	$	474	$	1,173	$	1,358
Segment income	74		81		178		223

Three months ended September 30, 2015 compared to 2014

Net sales and segment income decreased primarily due to the impact of foreign currency translation, partially offset by a 1% increase in sales unit volumes. Increased sales unit volumes in France, Greece, Eastern Europe, Italy and Spain offset continued weakness in the Middle East due to ongoing conflicts in the region.

Nine months ended September 30, 2015 compared to 2014

Net sales and segment income decreased primarily due to the impact of foreign currency translation and a 4% decline in sales unit volumes, primarily in the Middle East due to ongoing conflicts in the region. Net sales and segment income would have been $155 and $20 higher, respectively, using exchange rates in effect during 2014.

European Food

The European Food segment manufactures steel and aluminum food cans, ends and metal vacuum closures, and supplies a variety of customers from its operations throughout Europe and Africa. The European food can market is a mature market which has experienced stable to slightly declining volumes in recent years. In April 2014, the Company completed its acquisition of Mivisa and in June 2014 divested certain Crown and Mivisa operations as required for regulatory approval. In the third quarter of 2015, the Company announced the closure of two European Food facilities in an effort to reduce cost by eliminating excess capacity and consolidating manufacturing processes.

Net sales and segment income in the European Food segment are as follows:

	Three Months Ended				Six Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net sales	$	641	$	787	$	1,564	$	1,715
Segment income	98		107		208		196

Three months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to the impact of foreign currency translation and a 1% decline in sales unit volumes. Net sales would have been $120 higher using exchange rates in effect during 2014.

Segment income decreased primarily due to the impact of foreign currency translation, partially offset by improved cost performance.

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Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

Nine months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to the impact of foreign currency translation, partially offset by increased sales unit volumes and $145 for an additional four months of Mivisa. Net sales would have been $313 higher using exchange rates in effect during 2014.

Segment income decreased primarily due to the impact of foreign currency translation, partially offset by an additional four months of Mivisa and improved cost performance. Segment income would have been $42 higher using exchange rates in effect during 2014.

Asia Pacific

The Company's Asia Pacific segment primarily consists of beverage can operations in Cambodia, China, Malaysia, Singapore, Thailand and Vietnam and also includes the Company's non-beverage can operations, primarily food cans and specialty packaging in China, Singapore, Thailand and Vietnam. In recent years, the beverage can market in Asia has been growing. In the third quarter of 2015, the Company announced that it began construction of a third beverage can plant in Cambodia. The Company currently expects the plant to begin commercial production in late 2016.

Net sales and segment income in the Asia Pacific segment are as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net sales	$	300	$	310	$	920	$	924
Segment income	37		38		111		108

Three months ended September 30, 2015 compared to 2014

Net sales decreased $13 from the impact of foreign currency translation, partially offset by increased beverage can sales unit volumes.

Segment income decreased primarily due to the impact of competitive price compression in China, partially offset by increased beverage can sales unit volumes.

Nine months ended September 30, 2015 compared to 2014

Net sales decreased $23 from the impact of foreign currency translation, partially offset by increased beverage can sales unit volumes.

Segment income increased primarily due to increased beverage can sales unit volumes, partially offset by the impact of competitive price compression in China.

Non-reportable Segments

The Company's non-reportable segments include its European aerosol can and specialty packaging business, its North American aerosol can business and its tooling and equipment operations in the U.S. and U.K. In recent years, the Company's aerosol can and specialty packaging businesses have experienced slightly declining volumes. In the first quarter of 2015, the Company completed the sale of four of its European industrial specialty packaging plants.

Net sales and segment income in non-reportable segments are as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net sales	$	170	$	217	$	468	$	632
Segment income	25		26		62		72

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Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

Three months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to $44 from the sale of four industrial specialty packaging plants and the transfer of production from a European specialty packaging plant to the European food business and $14 from the impact of foreign currency translation, partially offset by $10 from higher equipment sales.

Segment income decreased primarily due to the impact of foreign currency translation, partially offset by higher equipment sales.

Nine months ended September 30, 2015 compared to 2014

Net sales decreased primarily due to $121 from the sale of four industrial specialty packaging plants and the transfer of production from a European specialty packaging plant to the European food business and $44 from the impact of foreign currency translation.

Segment income decreased primarily due to $10 from the sale of four industrial specialty packaging plants and the transfer of production from a European specialty packaging plant to the European food business and $3 from the impact of foreign currency translation.

Corporate and Unallocated Expense

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Corporate and unallocated expense	$	(54	)	$	(42	)	$	(148	)	$	(154	)

For the three months ended September 30, 2015, corporate and unallocated expense included charges of $7 for the timing of hedge ineffectiveness and $5 for the write-off of non-productive inventory related to plant closures. For the three months ended September 30, 2014, corporate and unallocated expense included charges of $4 related to the impact of fair value adjustments for the sale of inventory acquired in the acquisition of Mivisa and a benefit of $3 related to the timing of hedge ineffectiveness.

For the nine months ended September 30, 2015, corporate and unallocated expense included charges of $6 for fair value adjustments for the sale of inventory acquired in the acquisition of Empaque, $5 for the write-off of non-productive inventory related to plant closures and $3 for the timing of hedge ineffectiveness. For the nine months ended September 30, 2014, corporate and unallocated expense included a charge of $19 related to the impact of fair value adjustments for the sale of inventory acquired in the acquisition of Mivisa and a charge of $1 for the timing of hedge ineffectiveness.

Cost of Products Sold (Excluding Depreciation and Amortization)

For the three and nine months ended September 30, 2015 compared to 2014, cost of products sold (excluding depreciation and amortization) decreased from $2,119 to $1,984 and from $5,740 to $5,487 primarily due to the impact of foreign currency translation, partially offset by the impact of the acquisitions of Mivisa and Empaque. Cost of products sold would have been $226 and $566 higher for the three and nine months ended September 30, 2015 using exchange rates in effect during 2014.

Depreciation and Amortization

For the three and nine months ended September 30, 2015 compared to 2014, depreciation and amortization expense increased from $53 to $61 and from $135 to $174 primarily due to depreciation and amortization of fixed assets and intangible assets recorded in connection with the Company's acquisitions of Mivisa and Empaque.

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Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

Selling and Administrative Expense

For the three and nine months ended September 30, 2015 compared to 2014, selling and administrative expense decreased from $95 to $94 and $302 to $291 due to the impact of foreign currency translation, partially offset by higher corporate costs.

Interest Expense

For the three and nine months ended September 30, 2015 compared to 2014, interest expense increased from $64 to $68 and from $188 to $202 primarily due to higher average debt outstanding due to the acquisitions of Mivisa and Empaque, partially offset by lower borrowing rates and the impact of foreign currency translation.

Taxes on Income

The Company's effective income tax rate was as follows:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Income before income taxes	$	208		$	225		$	509		$	481
Provision for income taxes	48			(41		)	134			42
Effective income tax rate	23		%	(18		)%	26		%	9		%

Refer to Note O to the consolidated financial statements for a reconciliation of the Company's provision for income taxes to the amount determined by applying the U.S. statutory federal income tax rate to pre-tax income.

Net Income Attributable to Noncontrolling Interests

For the three and nine months ended September 30, 2015 compared to 2014, net income attributable to noncontrolling interests decreased from $22 to $19 and from $65 to $48 primarily due to lower earnings in the Company's beverage can operations in Brazil and the Middle East.

Liquidity and Capital Resources

Cash from Operations

Cash flows provided by operating activities increased from $9 for the nine months ended September 30, 2014 compared to $315 in 2015 primarily due to improvements in working capital. Day sales outstanding for trade receivables improved from 41 days in 2014 to 36 days in 2015 due to a decrease of 5 days related to the derecognition of receivables under the Company's securitization and factoring programs.

Inventories used cash of $168 for the nine months ended September 30, 2014 compared to $10 in 2015. Cash used in 2014 was higher than in 2015 primarily due to growth in the Company's European Food business and higher material costs.

Investing Activities

Cash used for investing activities increased from $912 for the nine months ended September 30, 2014 to $1,374 in 2015 primarily due to funds paid for the acquisition of Empaque, partially offset by lower capital expenditures. The Company currently expects capital expenditures for 2015 to be approximately $350.

47

Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

Financing Activities

Cash provided by financing activities increased from $606 for the nine months ended September 30, 2014 to $611 in 2015 primarily due to higher net borrowings in 2015 to fund the acquisition of Empaque as described in Note J and from payments in 2014 to increase the Company's ownership interest in subsidiaries in Jordan and Tunisia.

Liquidity

As of September 30, 2015, $425 of the Company's $466 of cash and cash equivalents was located outside the U.S. The Company is not currently aware of any legal restrictions under foreign law that materially impact its access to cash held outside the U.S.

The Company funds its cash needs in the U.S. through a combination of cash flows from operations in the U.S., distributions from certain foreign subsidiaries, borrowings under its revolving credit facility and the acceleration of cash receipts under its receivable securitization facilities. The Company records current and/or deferred U.S. taxes for the earnings of certain foreign subsidiaries. For certain other foreign subsidiaries, the Company considers earnings indefinitely reinvested and has not recorded any U.S. taxes. Of the cash and cash equivalents located outside the U.S., $226 was held by subsidiaries

for which earnings are considered indefinitely reinvested. While based on current operating plans the Company does not foresee a need to repatriate these funds, if such earnings were repatriated the Company would be required to record any incremental U.S. taxes on the repatriated funds.

As of September 30, 2015, the Company had $1,114 of borrowing capacity available under its revolving credit facility, equal to the total facility of $1,200 less borrowings of $45 and $41 of outstanding standby letters of credit.

Capital Resources

As of September 30, 2015, the Company has approximately $88 of capital commitments. The Company expects to fund these commitments primarily through cash flows generated from operations and to fund any excess needs through external borrowings.

Contractual Obligations

During the first nine months of 2015 there were no material changes to the Company's contractual obligations provided within Part II, Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations” of the Company's Annual Report on Form 10-K for the year ended December 31, 2014, which information is incorporated herein by reference, except for the debt issuances and repayments described in Note J to the consolidated financial statements included in this Quarterly Report on Form 10-Q.

Commitments and Contingent Liabilities

Information regarding the Company's commitments and contingent liabilities appears in Part I within Item 1 of this report under Note L, entitled “Commitments and Contingent Liabilities,” to the consolidated financial statements, and in Part II within Item 1A of this report which information is incorporated herein by reference.

Critical Accounting Policies

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States which require that management make numerous estimates and assumptions.

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Crown Holdings, Inc.

Item 2. Management's Discussion and Analysis (Continued)

Actual results could differ from these estimates and assumptions, impacting the reported results of operations and financial condition of the Company. Part II, Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations” and Note A to the consolidated financial statements contained in the Company's Annual Report on Form

10-K for the year ended December 31, 2014 describe the significant accounting estimates and policies used in the preparation of the consolidated financial statements. There have been no significant changes in the Company's critical accounting policies during the nine months of 2015. The discussion below supplements the discussion from the Company's Annual Report on Form 10-K for the year ended December 31, 2014 with respect to goodwill.

Goodwill Impairment

In recent years, the Company’s European Aerosols and Specialty Packaging reporting unit has experienced declining operating results. Based on current projections, the Company continues to believe that the estimated fair value of the reporting unit exceeds its carrying value. If future operating results were to decline, causing the estimated fair value to fall below its carrying value, it is possible that an impairment charge of up to $105 could be recorded.

Forward Looking Statements

Statements included herein in “Management's Discussion and Analysis of Financial Condition and Results of Operations,” including, but not limited to, in the discussions of asbestos in Note K and commitments and contingencies in Note L to the consolidated financial statements included in this Quarterly Report on Form 10-Q and also in Part I, Item 1: “Business” and Item 3: “Legal Proceedings” and in Part II, Item 7: “Management's Discussion and Analysis of Financial Condition and Results of Operations,” within the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, which are not historical facts (including any statements concerning plans and objectives of management for capacity additions, share repurchases, dividends, future operations or economic performance, or assumptions related thereto), are “forward-looking statements” within the meaning of the federal securities laws. In addition, the Company and its representatives may, from time to time, make oral or written statements which are also “forward-looking statements.”

These forward-looking statements are made based upon management's expectations and beliefs concerning future events impacting the Company and, therefore, involve a number of risks and uncertainties. Management cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements.    

While the Company periodically reassesses material trends and uncertainties affecting the Company's results of operations and financial condition in connection with the preparation of “Management's Discussion and Analysis of Financial Condition and Results of Operations” and certain other sections contained in the Company's quarterly, annual or other reports filed with the Securities and Exchange Commission (“SEC”), the Company does not intend to review or revise any particular forward-looking statement in light of future events.    

A discussion of important factors that could cause the actual results of operations or financial condition of the Company to differ from expectations has been set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 within Part II, Item 7: “Management's Discussion and Analysis of Financial Condition and Results of Operations” under the caption “Forward Looking Statements” and is incorporated herein by reference. Some of the factors are also discussed elsewhere in this Form 10-Q and in prior Company filings with the SEC. In addition, other factors have been or may be discussed from time to time in the Company's SEC filings.

49

Crown Holdings, Inc.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

In the normal course of business the Company is subject to risk from adverse fluctuations in foreign exchange and interest rates and commodity prices. The Company manages these risks through a program that includes the use of derivative financial instruments, primarily swaps and forwards. Counterparties to these contracts are major financial institutions. The Company is exposed to credit loss in the event of nonperformance by the counterparties. These instruments are not used for trading or speculative purposes. The extent to which the Company uses such instruments is dependent upon its access to these contracts in the financial markets and its success in using other methods, such as netting exposures in the same currencies to mitigate foreign exchange risk and using sales arrangements that permit the pass-through of commodity prices and foreign exchange rate risks to customers. The Company's objective in managing its exposure to market risk is to limit the impact on earnings and cash flow. For further discussion of the Company's use of derivative instruments and their fair values at September 30, 2015, see Note H to the consolidated financial statements included in this Quarterly Report on Form 10-Q.

As of September 30, 2015, the Company had $2.2 billion principal floating interest rate debt. A change of 0.25% in these floating interest rates would change annual interest expense by approximately $6 million before tax.

Item 4. Controls and Procedures

As of the end of the period covered by this Quarterly Report on Form 10-Q, management, including the Company's Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of its disclosure controls and procedures. Based upon that evaluation and as of the end of the quarter for which this report is made, the Company's Chief Executive Officer and Chief Financial Officer concluded that the disclosure controls and procedures were effective. Disclosure controls and procedures ensure that information to be disclosed in reports that the Company files and submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and terms of the Securities and Exchange Commission, and ensure that information required to be disclosed in the reports that the Company files or submits under the Exchange Act is accumulated and communicated to the Company's management, including its Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

There has been no change in internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.

50

Crown Holdings, Inc.

PART II – OTHER INFORMATION

Item 1.Legal Proceedings

For information regarding the Company's potential asbestos-related liabilities and other litigation, see Note K entitled “Asbestos-Related Liabilities” and Note L entitled “Commitments and Contingent Liabilities” to the consolidated financial statements within Item 1 of this Quarterly Report on Form 10-Q, which information is incorporated herein by reference.

Item 1A. Risk Factors

In addition to the other information set forth in this report, carefully consider the information set forth below and the factors discussed in Item 1A to Part I in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and in Item 1A to Part II in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, which could materially affect the Company's business, financial condition or future results. The risks described in the Company's Quarterly Report on Form 10-Q and the Company’s Annual Report on Form 10-K are not the only risks facing the Company. Additional risks and uncertainties not currently known to the Company or that the Company currently deems to be immaterial also may materially adversely affect the Company's business, financial condition and/or operating results.

The Company is subject to litigation risks which could negatively impact its operations and net income.

The Company is subject to various lawsuits and claims with respect to matters such as governmental, environmental and employee benefits laws and regulations, securities, labor, and actions arising out of the normal course of business, in addition to asbestos-related litigation described under the risk factor titled “Pending and future asbestos litigation and payments to settle asbestos-related claims could reduce the Company's cash flow and negatively impact its financial condition.” The Company is currently unable to determine the total expense or possible loss, if any, that may ultimately be incurred in the resolution of such legal proceedings. Regardless of the ultimate outcome of such legal proceedings, they could result in significant diversion of time by the Company's management. The results of the Company's pending legal proceedings, including any potential settlements, are uncertain and the outcome of these disputes may decrease its cash available for operations and investment, restrict its operations or otherwise negatively impact its business, operating results, financial condition and cash flow.

In March 2015, the Bundeskartellamt, or German Federal Cartel Office (“FCO”), conducted unannounced inspections of the premises of several metal packaging manufacturers, including one of the Company’s German subsidiaries. The local court order authorizing the inspection cited FCO suspicions of anti-competitive agreements in the market for the supply of metal packaging products. The FCO’s investigation is ongoing. To date, the FCO has not officially charged the Company or any of its subsidiaries with any violations of competition law. The Company has commenced an internal investigation into the matter and has discovered instances of inappropriate conduct by certain employees of German subsidiaries of the Company. The Company is cooperating with the FCO and submitted a leniency application which disclosed the findings of its internal investigation to date and which may lead to the reduction of penalties that the FCO may impose. If the FCO finds that the Company or any of its subsidiaries violated competition law, the FCO has wide discretion to levy fines. At this stage of the investigation the Company believes that a loss is probable. The Company is unable to predict the ultimate outcome of the FCO’s investigation and any additional losses that could be incurred, which could be material to the Company’s operating results and cash flows for the periods in which they are resolved or become reasonably estimable.

Item 2. Unregistered Sale of Equity Securities and Use of Proceeds

The Company made no purchases of its equity securities as part of publicly announced programs during the first nine months of 2015.

51

Crown Holdings, Inc.

Item 3. Defaults Upon Senior Securities

There were no events required to be reported under Item 3 for the quarter ended September 30, 2015.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5.    Other Information

On October 19, 2015, the Company announced that it recorded $40 of restructuring and other charges in the third quarter of 2015 which included a charge of $13 to write-down the carrying value of fixed assets and $17 for termination benefits related to the announced closure of two facilities in the Company's European Food segment upon completion of consultation processes with employee representatives. The Company also recorded a charge of $5 related to the write-off of certain non-productive inventory which is included in cost of products sold. The closures are expected to reduce cost by eliminating excess capacity and consolidating manufacturing processes. The facility closures are expected to result in the reduction of approximately 280 employees when completed in 2016. The Company expects to incur $12 of future charges related to this action.

Item 6.Exhibits

31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, executed by John W. Conway, Chairman of the Board, President and Chief Executive Officer of Crown Holdings, Inc. and Thomas A. Kelly, Senior Vice President and Chief Financial Officer of Crown Holdings, Inc.
101	The following financial information from the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Statements of Operations for the three and nine months ended September 30, 2015, (ii) Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2015, (iii) Consolidated Balance Sheets as of September 30, 2015 and December 31, 2014, (iv) Consolidated Statements of Cash Flows for the nine months ended September 30, 2015 and 2014, (v) Consolidated Statements of Changes in Equity for the nine months ended September 30, 2015 and 2014 and (vi) Notes to Consolidated Financial Statements.

52

Crown Holdings, Inc.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Crown Holdings, Inc. Registrant
By:	/s/ David A. Beaver
	David A. Beaver
	Vice President and Corporate Controller
	(Chief Accounting Officer)

Date: October 23, 2015

53

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, John W. Conway, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Crown Holdings, Inc. (“the registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	October 23, 2015	/s/  John W. Conway
		John W. Conway
		Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION

I, Thomas A. Kelly, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Crown Holdings, Inc. (“the registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	October 23, 2015	/s/  Thomas A. Kelly
		Thomas A. Kelly
		Chief Financial Officer

EX-32

EXHIBIT 32

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Crown Holdings, Inc. (the “Company”) on Form 10-Q for the period ending September 30, 2015 (the “Report”), each of the undersigned officers certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial position and results of operations of the Company.

Date:	October 23, 2015	/s/  John W. Conway
		John W. Conway
		Chairman of the Board and Chief Executive Officer
Date:	October 23, 2015	/s/  Thomas A. Kelly
		Thomas A. Kelly
		Senior Vice President and Chief Financial Officer

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished to the Securities and Exchange Commission as an exhibit to this Quarterly Report on Form 10-Q and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

XML

Acquisitions (Narrative) (Details) - USD ($) $ in Millions			3 Months Ended	9 Months Ended
	Feb. 18, 2015	Apr. 23, 2014	Sep. 30, 2015	Sep. 30, 2015
Empaque [Member]
Business Acquisition [Line Items]
Effective date of acquisition	Feb. 18, 2015
Cash transaction value of acquisition	$ 1,207
Customer relationships	162
Long-term supply contract	298
Pro forma contributed sales			$ 153	$ 401
Payments to acquire business	$ 1,207
Empaque [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Amortization period	18 years
Empaque [Member] | Supply Contract [Member]
Business Acquisition [Line Items]
Amortization period	15 years
Mivisa [Member]
Business Acquisition [Line Items]
Effective date of acquisition		Apr. 23, 2014
Cash transaction value of acquisition		$ 733
Payments to acquire business		733
Cash acquired		28
Debt assumed		$ 977

XML

Debt (Summary of Outstanding Debt) (Details) € in Millions, $ in Millions	Sep. 30, 2015 EUR (€)	Sep. 30, 2015 USD ($)	May. 08, 2015 EUR (€)	Dec. 31, 2014 USD ($)
Debt Instrument [Line Items]
Short-term debt		$ 61		$ 75
Revolving credit facilities		45		0
Other indebtedness in various currencies		181		281
Unamortized discounts		(2)		(2)
Total long-term debt		5,750		5,184
Less: current maturities		(142)		(177)
Total long-term debt, less current maturities		5,608		5,007
U.S. Dollar at LIBOR plus 1.75% due 2018 [Member]
Debt Instrument [Line Items]
Term loan facilities		$ 875		800
Debt instrument stated percentage	1.75%	1.75%
Euro at EURIBOR plus 1.75% due 2018 [Member]
Debt Instrument [Line Items]
Term loan facilities	€ 700	$ 782		847
Debt instrument stated percentage	1.75%	1.75%
Farm Credit Term Loans due 2019 [Member]
Debt Instrument [Line Items]
Term loan facilities		$ 358		358
Debt instrument stated percentage	2.00%	2.00%
U.S. Dollar 6.25% due 2021 [Member]
Debt Instrument [Line Items]
Senior notes and debentures		$ 700		700
Debt instrument stated percentage	6.25%	6.25%
Euro 4.0% due 2022 [Member]
Debt Instrument [Line Items]
Senior notes and debentures	€ 650	$ 726		786
Debt instrument stated percentage	4.00%	4.00%
U S Dollar 4.5% due 2023 [Member]
Debt Instrument [Line Items]
Senior notes and debentures		$ 1,000		1,000
Debt instrument stated percentage	4.50%	4.50%
Euro 3.375% due 2025 [Member]
Debt Instrument [Line Items]
Senior notes and debentures	€ 600	$ 671	€ 600	0
Debt instrument stated percentage	3.375%	3.375%	3.375%
U.S. Dollar 7.375% due 2026 [Member]
Debt Instrument [Line Items]
Senior notes and debentures		$ 350		350
Debt instrument stated percentage	7.375%	7.375%
U.S. Dollar 7.50% due 2096 [Member]
Debt Instrument [Line Items]
Senior notes and debentures		$ 64		$ 64
Debt instrument stated percentage	7.50%	7.50%

XML

Derivative and Other Financial Instruments (Fair Values of Outstanding Derivative Instruments in the Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative assets
Total	$ 24	$ 22
Derivative liabilities
Total	49	45
Fair Value, Inputs, Level 2 [Member] | Other Current Assets [Member] | Foreign Exchange [Member] | Designated as Hedging Instrument [Member]
Derivative assets
Derivatives designated as hedges, Foreign exchange	19	20
Fair Value, Inputs, Level 2 [Member] | Other Current Assets [Member] | Commodities [Member] | Designated as Hedging Instrument [Member]
Derivative assets
Derivatives designated as hedges, Commodities	4	2
Fair Value, Inputs, Level 2 [Member] | Other Noncurrent Assets [Member] | Commodities [Member] | Designated as Hedging Instrument [Member]
Derivative assets
Derivatives designated as hedges, Commodities	1	0
Fair Value, Inputs, Level 2 [Member] | Accounts Payable and Accrued Liabilities [Member] | Foreign Exchange [Member]
Derivative liabilities
Derivatives not designated as hedges, Foreign exchange	2	15
Fair Value, Inputs, Level 2 [Member] | Accounts Payable and Accrued Liabilities [Member] | Foreign Exchange [Member] | Designated as Hedging Instrument [Member]
Derivative liabilities
Derivatives designated as hedges, Foreign exchange	15	20
Fair Value, Inputs, Level 2 [Member] | Accounts Payable and Accrued Liabilities [Member] | Commodities [Member] | Designated as Hedging Instrument [Member]
Derivative liabilities
Derivatives designated as hedges, Commodities	23	10
Fair Value, Inputs, Level 2 [Member] | Accounts Payable and Accrued Liabilities [Member] | Commodities [Member] | Not Designated as Hedging Instrument [Member]
Derivative liabilities
Derivatives designated as hedges, Commodities	5	0
Fair Value, Inputs, Level 2 [Member] | Other Noncurrent Liabilities [Member] | Commodities [Member] | Designated as Hedging Instrument [Member]
Derivative liabilities
Derivatives designated as hedges, Commodities	3	0
Fair Value, Inputs, Level 2 [Member] | Other Noncurrent Liabilities [Member] | Commodities [Member] | Not Designated as Hedging Instrument [Member]
Derivative liabilities
Derivatives designated as hedges, Commodities	$ 1	$ 0

XML

Condensed Combining Financial Information (Condensed Combining Statement Of Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net cash provided by/(used for) operating activities	$ 315	$ 9
Capital expenditures	(176)	(212)
Purchase of business	(1,207)	(733)
Proceeds from sale of property, plant and equipment	3	9
Proceeds from sale of business	33	22
Other, net	(16)	2
Net cash used for investing activities	(1,374)	(912)
Proceeds from long-term debt	1,435	2,742
Payments of long-term debt	(780)	(1,720)
Net change in revolving credit facility and short-term debt	34	(232)
Debt issue costs	(18)	(41)
Common stock issued	5	11
Common stock repurchased	(9)	(2)
Purchase of noncontrolling interests	0	(93)
Contributions from noncontrolling interests	3	0
Dividends paid to noncontrolling interests	(21)	(45)
Foreign exchange derivatives related to debt	(38)	(14)
Net cash provided by financing activities	611	606
Effect of exchange rate changes on cash and cash equivalents	(51)	(12)
Net change in cash and cash equivalents	(499)	(309)
Cash and cash equivalents at January 1	965	689
Cash and cash equivalents at September 30	466	380
Crown Cork & Seal Company Inc [Member]
Net cash provided by/(used for) operating activities	315	9
Capital expenditures	(176)	(212)
Purchase of business	(1,207)	(733)
Proceeds from sale of property, plant and equipment	3	9
Proceeds from sale of business	33	22
Intercompany investing activities		0
Net investment hedge settlements	(11)
Other, net	(16)	2
Net cash used for investing activities	(1,374)	(912)
Proceeds from long-term debt	1,435	2,742
Payments of long-term debt	(780)	(1,720)
Net change in revolving credit facility and short-term debt	34	(232)
Net change in long-term intercompany balances		0
Debt issue costs	(18)	(41)
Common stock issued	5	11
Common stock repurchased	(9)	(2)
Dividends paid	0	0
Purchase of noncontrolling interests		(93)
Contributions from noncontrolling interests	3
Dividends paid to noncontrolling interests	(21)	(45)
Foreign exchange derivatives related to debt	(38)	(14)
Net cash provided by financing activities	611	606
Effect of exchange rate changes on cash and cash equivalents	(51)	(12)
Net change in cash and cash equivalents	(499)	(309)
Cash and cash equivalents at January 1	965	689
Cash and cash equivalents at September 30	466	380
Crown Cork & Seal Company Inc [Member] | Parent [Member]
Net cash provided by/(used for) operating activities	24	14
Intercompany investing activities	(865)	(941)
Net cash used for investing activities	(865)	(941)
Net change in long-term intercompany balances	845	$ 918
Debt issue costs
Common stock issued	5	$ 11
Common stock repurchased	(9)	(2)
Net cash provided by financing activities	841	927
Net change in cash and cash equivalents	$ 0	0
Cash and cash equivalents at January 1
Cash and cash equivalents at September 30	$ 0	0
Crown Cork & Seal Company Inc [Member] | Issuer [Member]
Net cash provided by/(used for) operating activities	$ (65)	(72)
Proceeds from sale of business
Intercompany investing activities	$ 9	$ 51
Other, net
Net cash used for investing activities	$ 9	$ 51
Net change in long-term intercompany balances	56	$ 21
Debt issue costs
Common stock issued
Net cash provided by financing activities	56	$ 21
Net change in cash and cash equivalents	$ 0	0
Cash and cash equivalents at January 1
Cash and cash equivalents at September 30	$ 0	0
Crown Cork & Seal Company Inc [Member] | Non-Guarantors [Member]
Net cash provided by/(used for) operating activities	356	67
Capital expenditures	(176)	(212)
Purchase of business	(1,207)	(733)
Proceeds from sale of property, plant and equipment	3	9
Proceeds from sale of business	33	22
Intercompany investing activities	865	941
Net investment hedge settlements	(11)
Other, net	(16)	2
Net cash used for investing activities	(509)	29
Proceeds from long-term debt	1,435	2,742
Payments of long-term debt	(780)	(1,720)
Net change in revolving credit facility and short-term debt	34	(232)
Net change in long-term intercompany balances	(901)	(939)
Debt issue costs	$ (18)	$ (41)
Common stock issued
Common stock repurchased
Dividends paid	$ (9)	$ (51)
Purchase of noncontrolling interests		(93)
Contributions from noncontrolling interests	3
Dividends paid to noncontrolling interests	(21)	(45)
Foreign exchange derivatives related to debt	(38)	(14)
Net cash provided by financing activities	(295)	(393)
Effect of exchange rate changes on cash and cash equivalents	(51)	(12)
Net change in cash and cash equivalents	(499)	(309)
Cash and cash equivalents at January 1	965	689
Cash and cash equivalents at September 30	466	380
Crown Cork & Seal Company Inc [Member] | Eliminations [Member]
Intercompany investing activities	(9)	(51)
Net cash used for investing activities	(9)	(51)
Dividends paid	9	$ 51
Purchase of noncontrolling interests
Net cash provided by financing activities	9	$ 51
Net change in cash and cash equivalents	$ 0	0
Cash and cash equivalents at January 1
Cash and cash equivalents at September 30	$ 0	0
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member]
Net cash provided by/(used for) operating activities	315	9
Capital expenditures	(176)	(212)
Purchase of business	(1,207)	(733)
Proceeds from sale of property, plant and equipment	3	9
Proceeds from sale of business	33	22
Intercompany investing activities	0	0
Net investment hedge settlements	(11)
Other, net	(16)	2
Net cash used for investing activities	(1,374)	(912)
Proceeds from long-term debt	1,435	2,742
Payments of long-term debt	(780)	(1,720)
Net change in revolving credit facility and short-term debt	34	(232)
Net change in long-term intercompany balances		0
Debt issue costs	(18)	(41)
Common stock issued	5	11
Common stock repurchased	(9)	(2)
Dividends paid	0	0
Purchase of noncontrolling interests		(93)
Contributions from noncontrolling interests	3
Dividends paid to noncontrolling interests	(21)	(45)
Foreign exchange derivatives related to debt	(38)	(14)
Net cash provided by financing activities	611	606
Effect of exchange rate changes on cash and cash equivalents	(51)	(12)
Net change in cash and cash equivalents	(499)	(309)
Cash and cash equivalents at January 1	965	689
Cash and cash equivalents at September 30	466	380
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Parent [Member]
Net cash provided by/(used for) operating activities	24	14
Intercompany investing activities	(865)	(941)
Net cash used for investing activities	(865)	(941)
Net change in long-term intercompany balances	845	$ 918
Debt issue costs
Common stock issued	5	$ 11
Common stock repurchased	(9)	$ (2)
Foreign exchange derivatives related to debt
Net cash provided by financing activities	841	$ 927
Effect of exchange rate changes on cash and cash equivalents
Net change in cash and cash equivalents	0	$ 0
Cash and cash equivalents at January 1
Cash and cash equivalents at September 30	0	$ 0
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Issuer [Member]
Net cash provided by/(used for) operating activities	(53)	$ (48)
Proceeds from sale of property, plant and equipment
Intercompany investing activities	7	$ 5
Net investment hedge settlements	(11)
Net cash used for investing activities	(4)	5
Proceeds from long-term debt	750	$ 942
Payments of long-term debt	$ (675)
Net change in revolving credit facility and short-term debt
Net change in long-term intercompany balances	$ (104)	$ (1,015)
Debt issue costs	$ (10)	$ (24)
Foreign exchange derivatives related to debt
Net cash provided by financing activities	$ (39)	$ (97)
Effect of exchange rate changes on cash and cash equivalents
Net change in cash and cash equivalents	(96)	$ (140)
Cash and cash equivalents at January 1	128	177
Cash and cash equivalents at September 30	32	37
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Guarantor Subsidiaries [Member]
Net cash provided by/(used for) operating activities	76	65
Capital expenditures	(30)	(27)
Proceeds from sale of property, plant and equipment	$ 1	4
Proceeds from sale of business
Intercompany investing activities	$ 9	$ 51
Other, net	(10)
Net cash used for investing activities	(30)	$ 28
Payments of long-term debt
Net change in long-term intercompany balances	(46)	$ (18)
Debt issue costs
Dividends paid
Purchase of noncontrolling interests		$ (76)
Foreign exchange derivatives related to debt
Net cash provided by financing activities	$ (46)	$ (94)
Effect of exchange rate changes on cash and cash equivalents
Net change in cash and cash equivalents		$ (1)
Cash and cash equivalents at January 1		2
Cash and cash equivalents at September 30	$ 0	1
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Non-Guarantors [Member]
Net cash provided by/(used for) operating activities	268	(22)
Capital expenditures	(146)	(185)
Purchase of business	(1,207)	(733)
Proceeds from sale of property, plant and equipment	2	5
Proceeds from sale of business	33	22
Intercompany investing activities	865	941
Other, net	(6)	2
Net cash used for investing activities	(459)	52
Proceeds from long-term debt	685	1,800
Payments of long-term debt	(105)	(1,720)
Net change in revolving credit facility and short-term debt	34	(232)
Net change in long-term intercompany balances	(695)	115
Debt issue costs	(8)	$ (17)
Common stock repurchased
Dividends paid	(16)	$ (56)
Purchase of noncontrolling interests		(17)
Contributions from noncontrolling interests	3
Dividends paid to noncontrolling interests	(21)	(45)
Foreign exchange derivatives related to debt	(38)	(14)
Net cash provided by financing activities	(161)	(186)
Effect of exchange rate changes on cash and cash equivalents	(51)	(12)
Net change in cash and cash equivalents	(403)	(168)
Cash and cash equivalents at January 1	837	510
Cash and cash equivalents at September 30	434	342
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Eliminations [Member]
Intercompany investing activities	(16)	(56)
Net cash used for investing activities	(16)	$ (56)
Common stock repurchased
Dividends paid	16	$ 56
Foreign exchange derivatives related to debt
Net cash provided by financing activities	16	$ 56
Effect of exchange rate changes on cash and cash equivalents
Net change in cash and cash equivalents	0	$ 0
Cash and cash equivalents at January 1
Cash and cash equivalents at September 30	$ 0	$ 0

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Debt (Narrative) (Details) € in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2015 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 EUR (€)	Sep. 30, 2015 USD ($)	May. 08, 2015 EUR (€)	Dec. 31, 2014 USD ($)
Debt Instrument [Line Items]
Loss from early extinguishment of debt		$ 0	$ 34	$ 9	$ 34
U.S. Dollar at LIBOR plus 1.75% due 2018 [Member]
Debt Instrument [Line Items]
Debt instrument stated percentage						1.75%	1.75%
U.S. Dollar at LIBOR plus 1.75% due 2018 [Member] | Empaque [Member]
Debt Instrument [Line Items]
Additional borrowings	$ 75
U.S. Dollar at LIBOR plus 3.25% due 2022 [Member] | Empaque [Member]
Debt Instrument [Line Items]
Additional borrowings	$ 675
Euro 3.375% due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument stated percentage						3.375%	3.375%	3.375%
Principal amount						€ 600	$ 671	€ 600	$ 0
Loss from early extinguishment of debt		$ 9
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term borrowings, estimated fair value							$ 5,856		$ 5,346

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Derivative and Other Financial Instruments (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Objective for using derivative instruments			The Company’s objective in managing exposure to market risk is to limit the impact on earnings and cash flow.
Derivative, lower remaining maturity range			1 month
Derivative, higher remaining maturity range			37 months
Loss expected to be reclassified to earnings			$ 18,000,000
Loss, net of tax, expected to be reclassified to earnings			14,000,000
Reclassification of anticipated transactions that were no longer considered probable			0	$ 0
Changes in fair value of the derivative financial instruments, excluded from the assessment and measurement of hedge effectiveness reported in earnings (less than)	$ 1,000,000		1,000,000
Accumulated Other Comprehensive Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net investment hedge settlements			(11,000,000)
Gain (loss) on financial instruments designated as hedges in its net investment in a euro-based subsidiary, net of tax			7,000,000
Commodities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on cash flow hedge ineffectiveness		$ 2,000,000	1,000,000	(1,000,000)
Gain on Cash Flow Hedge Ineffectiveness			2,000,000
Commodities [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on cash flow hedge ineffectiveness	(4,000,000)		(3,000,000)
Loss on Cash Flow Hedge Ineffectiveness	7,000,000		5,000,000
Foreign Exchange [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on foreign exchange contracts designated as fair value hedges	(1,000,000)	3,000,000	1,000,000	2,000,000
Gain (loss) on foreign exchange contracts not designated as fair value hedges	$ 24,000,000	$ (25,000,000)	$ (19,000,000)	$ (38,000,000)

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Computations of Basic and Diluted Earnings Per Share

The following table summarizes the computations of basic and diluted earnings per share attributable to the Company.

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net income attributable to Crown Holdings	$	141	$	244	$	327	$	374
Weighted average shares outstanding:
Basic	138.1		137.4		137.9		137.2
Dilutive stock options and restricted stock	1.0		1.3		1.1		1.2
Diluted	139.1		138.7		139.0		138.4
Basic earnings per share	$	1.02	$	1.78	$	2.37	$	2.73
Diluted earnings per share	$	1.01	$	1.76	$	2.35	$	2.70

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Asbestos-Related Liabilities (Summary of Claims Activity) (Details)	9 Months Ended
	Sep. 30, 2015 Claim
Liability for Asbestos and Environmental Claims [Abstract]
Beginning claims	54,000
New claims	2,000
Settlements or dismissals	(2,000)
Ending claims	54,000

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Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2015

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	Defined benefit plans			Foreign currency translation			Gains and losses on cash flow hedges			Total
Balance at December 31, 2013	$	(1,828	)	$	(658	)	$	(27	)	$	(2,513	)
Other comprehensive loss before reclassifications	—			(161		)	8			(153		)
Amounts reclassified from accumulated other comprehensive income	51			—			21			72
Other comprehensive income (loss)	51			(161		)	29			(81		)
Balance at September 30, 2014	$	(1,777	)	$	(819	)	$	2		$	(2,594	)
Balance at December 31, 2014	$	(1,781	)	$	(980	)	$	(4	)	$	(2,765	)
Other comprehensive income (loss) before reclassifications	16			(357		)	(28		)	(369		)
Amounts reclassified from accumulated other comprehensive income	32			—			13			45
Other comprehensive income (loss)	48			(357		)	(15		)	(324		)
Balance at September 30, 2015	$	(1,733	)	$	(1,337	)	$	(19	)	$	(3,089	)

The following table provides information about amounts reclassified from accumulated other comprehensive income.

	Amounts reclassified from accumulated other comprehensive income
	Three Months Ended						Nine Months Ended
Details about accumulated other	September 30						September 30						Affected line item in the
comprehensive income components	2015			2014			2015			2014			statement of operations
(Gains) losses on cash flow hedges
Commodities	$	12		$	(2	)	$	16		$	24		Cost of products sold
	12			(2		)	16			24			Total before tax
	(3		)	1			(4		)	(6		)	Provision for income taxes
	$	9		$	(1	)	$	12		$	18		Net of tax
Foreign exchange	$	—		$	(2	)	$	(1	)	$	(2	)	Net sales
	—			3			2			5			Cost of products sold
	—			1			1			3			Total before tax
	—			—			—			—			Provision for income taxes
	$	—		$	1		$	1		$	3		Net of tax
Total (gains) losses on cash flow hedges	$	9		$	—		$	13		$	21
Amortization of defined benefit plan items
Actuarial losses	$	26		$	33		$	81		$	97		(a)
Prior service credit	(14		)	(12		)	(38		)	(36		)	(a)
	12			21			43			61			Total before tax
	(3		)	(2		)	(11		)	(10		)	Provision for income taxes
	$	9		$	19		$	32		$	51		Net of tax
Total reclassifications for the period	$	18		$	19		$	45		$	72

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement cost. See Note N for further details.

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Derivative and Other Financial Instruments (Notional Values of Outstanding Derivative Instruments in the Consolidated Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Not Designated as Hedging Instrument [Member] | Foreign Exchange [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 595	$ 603
Not Designated as Hedging Instrument [Member] | Commodities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	61	0
Cash Flow Hedges [Member] | Foreign Exchange [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	223	678
Cash Flow Hedges [Member] | Commodities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	284	213
Fair Value Hedges [Member] | Foreign Exchange [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 88	$ 85

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Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		9 Months Ended
	Jun. 30, 2015	Jan. 30, 2015	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 44
Cost expected to be recognized, weighted average period (in years)			2 years 6 months
Time Vested Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award term	ratably over four years commencing in 2017
Number of performance-based shares awarded to certain senior executives	175,200		268,680
Weighted average grant-date fair value			$ 53.56
Time Vested Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares awarded to certain senior executives		93,480
Award term		ratably over three years
Vesting period (in years) for shares awarded			3 years
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award term		cliff vest at the end of three years
Number of performance-based shares awarded to certain senior executives		201,092	201,092
Vesting period (in years) for shares awarded			3 years
Level of market performance achieved based on shares awarded, minimum (as a percent)		0.00%
Level of market performance achieved based on shares awarded, maximum (as a percent)		200.00%
Weighted average grant-date fair value			$ 49.50
Method used for calculation of performance of share			Monte Carlo
Weighted average stock price volatility			17.40%
Expected term (in years)			3 years
Risk free interest rate			1.06%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate market value of shares released and issued			$ 28

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Condensed Combining Financial Information (Tables)

9 Months Ended

Sep. 30, 2015

Crown Cork & Seal Company Inc [Member]

Condensed Combining Statement of Comprehensive Income

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2015

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,460					$	2,460
Cost of products sold, excluding depreciation and amortization						1,984						1,984
Depreciation and amortization						61						61
Gross profit						415						415
Selling and administrative expense			$	3		91						94
Restructuring and other						40						40
Net interest expense			25			39						64
Foreign exchange						9						9
Income/(loss) before income taxes			(28		)	236						208
Provision for / (benefit from) income taxes			(15		)	63						48
Equity earnings / (loss) in affiliates	$	141	110						$	(251	)	—
Net income	141		97			173			(251		)	160
Net income attributable to noncontrolling interests						(19		)				(19		)
Net income attributable to Crown Holdings	$	141	$	97		$	154		$	(251	)	$	141
Comprehensive income	$	9	$	35		$	38		$	(57	)	$	25
Comprehensive income attributable to noncontrolling interests						(16		)				(16		)
Comprehensive income attributable to Crown Holdings	$	9	$	35		$	22		$	(57	)	$	9

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2014

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,594					$	2,594
Cost of products sold, excluding depreciation and amortization						2,119						2,119
Depreciation and amortization						53						53
Gross profit						422						422
Selling and administrative expense			$	2		93						95
Restructuring and other						8						8
Loss from early extinguishment of debt						34						34
Net interest expense			23			39						62
Foreign exchange						(2		)				(2		)
Income/(loss) before income taxes			(25		)	250						225
Provision for / (benefit from) income taxes			(7		)	(34		)				(41		)
Equity earnings / (loss) in affiliates	$	244	245						$	(489	)	—
Net income	244		227			284			(489		)	266
Net income attributable to noncontrolling interests						(22		)				(22		)
Net income attributable to Crown Holdings	$	244	$	227		$	262		$	(489	)	$	244
Comprehensive income	$	121	$	104		$	160		$	(243	)	$	142
Comprehensive income attributable to noncontrolling interests						(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	121	$	104		$	139		$	(243	)	$	121

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2015

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,735					$	6,735
Cost of products sold, excluding depreciation and amortization						5,487						5,487
Depreciation and amortization						174						174
Gross profit						1,074						1,074
Selling and administrative expense			$	8		283						291
Restructuring and other						57						57
Loss from early extinguishment of debt						9						9
Net interest expense			76			118						194
Foreign exchange						14						14
Income/(loss) before income taxes			(84		)	593						509
Provision for / (benefit from) income taxes			(24		)	158						134
Equity earnings / (loss) in affiliates	$	327	298						$	(625	)	—
Net income	327		238			435			(625		)	375
Net income attributable to noncontrolling interests						(48		)				(48		)
Net income attributable to Crown Holdings	$	327	$	238		$	387		$	(625	)	$	327
Comprehensive income	$	3	$	73		$	106		$	(136	)	$	46
Comprehensive income attributable to noncontrolling interests						(43		)				(43		)
Comprehensive income attributable to Crown Holdings	$	3	$	73		$	63		$	(136	)	$	3

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2014

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,970					$	6,970
Cost of products sold, excluding depreciation and amortization						5,740						5,740
Depreciation and amortization						135						135
Gross profit						1,095						1,095
Selling and administrative expense			$	7		295						302
Restructuring and other			14			77						91
Loss from early extinguishment of debt						34						34
Net interest expense			70			113						183
Foreign exchange						4						4
Income/(loss) before income taxes			(91		)	572						481
Provision for / (benefit from) income taxes			(16		)	58						42
Equity earnings / (loss) in affiliates	$	374	436						$	(810	)	—
Net income	374		361			514			(810		)	439
Net income attributable to noncontrolling interests						(65		)				(65		)
Net income attributable to Crown Holdings	$	374	$	361		$	449		$	(810	)	$	374
Comprehensive Income	$	293	$	280		$	435		$	(648	)	$	360
Comprehensive income attributable to noncontrolling interests						(67		)				(67		)
Comprehensive income attributable to Crown Holdings	$	293	$	280		$	368		$	(648	)	$	293

Condensed Combining Balance Sheet

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2015

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	466				$	466
Receivables, net					1,183					1,183
Inventories					1,302					1,302
Prepaid expenses and other current assets	$	1	$	67	243					311
Total current assets	1		67		3,194					3,262
Intercompany debt receivables					3,786		$	(3,786	)	—
Investments	3,064		2,474				(5,538		)	—
Goodwill and intangible assets					3,664					3,664
Property, plant and equipment, net					2,614					2,614
Other non-current assets			397		292					689
Total	$	3,065	$	2,938	$	13,550	$	(9,324	)	$	10,229
Liabilities and equity
Current liabilities
Short-term debt					$	61				$	61
Current maturities of long-term debt					142					142
Accounts payable and accrued liabilities	$	19	$	41	2,467					2,527
Total current liabilities	19		41		2,670					2,730
Long-term debt, excluding current maturities			412		5,196					5,608
Long-term intercompany debt	2,906		880				$	(3,786	)	—
Postretirement and pension liabilities					786					786
Other non-current liabilities			297		375					672
Commitments and contingent liabilities
Noncontrolling interests					293					293
Crown Holdings shareholders’ equity/(deficit)	140		1,308		4,230		(5,538		)	140
Total equity/(deficit)	140		1,308		4,523		(5,538		)	433
Total	$	3,065	$	2,938	$	13,550	$	(9,324	)	$	10,229

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2014

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	965				$	965
Receivables, net					1,031					1,031
Inventories					1,324					1,324
Prepaid expenses and other current assets	$	1	$	69	186					256
Assets held for sale					48					48
Total current assets	1		69		3,554					3,624
Intercompany debt receivables					2,885		$	(2,885	)	—
Investments	2,199		2,350				(4,549		)	—
Goodwill and intangible assets					2,926					2,926
Property, plant and equipment, net					2,437					2,437
Other non-current assets			397		324					721
Total	$	2,200	$	2,816	$	12,126	$	(7,434	)	$	9,708
Liabilities and equity
Current liabilities
Short-term debt					$	75				$	75
Current maturities of long-term debt					177					177
Accounts payable and accrued liabilities	$	20	$	35	2,596					2,651
Liabilities related to assets held for sale					23					23
Total current liabilities	20		35		2,871					2,926
Long-term debt, excluding current maturities			412		4,595					5,007
Long-term intercompany debt	2,061		824				$	(2,885	)	—
Postretirement and pension liabilities					871					871
Other non-current liabilities			310		207					517
Commitments and contingent liabilities
Noncontrolling interests					268					268
Crown Holdings shareholders’ equity/(deficit)	119		1,235		3,314		(4,549		)	119
Total equity/(deficit)	119		1,235		3,582		(4,549		)	387
Total	$	2,200	$	2,816	$	12,126	$	(7,434	)	$	9,708

Condensed Combining Statement of Cash Flows

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2015

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	24		$	(65	)	$	356					$	315
Cash flows from investing activities
Capital expenditures							(176		)				(176		)
Purchase of business							(1,207		)				(1,207		)
Proceeds from sale of property, plant and equipment							3						3
Proceeds from sale of business							33						33
Intercompany investing activities	(865		)	9			865			$	(9	)	—
Net investment hedge settlements							(11		)				(11		)
Other							(16		)				(16		)
Net cash provided by/(used for) investing activities	(865		)	9			(509		)	(9		)	(1,374		)
Cash flows from financing activities
Proceeds from long-term debt							1,435						1,435
Payments of long-term debt							(780		)				(780		)
Net change in revolving credit facility and short-term debt							34						34
Net change in long-term intercompany balances	845			56			(901		)				—
Debt issue costs							(18		)				(18		)
Common stock issued	5												5
Common stock repurchased	(9		)										(9		)
Dividends paid							(9		)	9			—
Contributions from noncontrolling interests							3						3
Dividend paid to noncontrolling interests							(21		)				(21		)
Foreign exchange derivatives related to debt							(38		)				(38		)
Net cash provided by/(used for) financing activities	841			56			(295		)	9			611
Effect of exchange rate changes on cash and cash equivalents							(51		)				(51		)
Net change in cash and cash equivalents	—			—			(499		)	—			(499		)
Cash and cash equivalents at January 1							965						965
Cash and cash equivalents at September 30	$	—		$	—		$	466		$	—		$	466

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2014

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	14		$	(72	)	$	67					$	9
Cash flows from investing activities
Capital expenditures							(212		)				(212		)
Purchase of business							(733		)				(733		)
Proceeds from sale of property, plant and equipment							9						9
Proceeds from sale of business							22						22
Intercompany investing activities	(941		)	51			941			$	(51	)	—
Other							2						2
Net cash provided by/(used for) investing activities	(941		)	51			29			(51		)	(912		)
Cash flows from financing activities
Proceeds from long-term debt							2,742						2,742
Payments of long-term debt							(1,720		)				(1,720		)
Net change in revolving credit facility and short-term debt							(232		)				(232		)
Net change in long-term intercompany balances	918			21			(939		)				—
Debt issue costs							(41		)				(41		)
Common stock issued	11												11
Common stock repurchased	(2		)										(2		)
Dividends paid							(51		)	51			—
Purchase of noncontrolling interests							(93		)				(93		)
Dividend paid to noncontrolling interests							(45		)				(45		)
Foreign exchange derivatives related to debt							(14		)				(14		)
Net cash provided by/(used for) financing activities	927			21			(393		)	51			606
Effect of exchange rate changes on cash and cash equivalents							(12		)				(12		)
Net change in cash and cash equivalents	—			—			(309		)	—			(309		)
Cash and cash equivalents at January 1							689						689
Cash and cash equivalents at September 30	$	—		$	—		$	380		$	—		$	380

Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member]

Condensed Combining Statement of Comprehensive Income

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2015

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	527		$	1,933					$	2,460
Cost of products sold, excluding depreciation and amortization						415			1,569						1,984
Depreciation and amortization						8			53						61
Gross profit						104			311						415
Selling and administrative expense			$	2		37			55						94
Restructuring and other						3			37						40
Net interest expense			23			23			18						64
Technology royalty						(13		)	13						—
Foreign exchange			3						9			$	(3	)	9
Income/(loss) before income taxes			(28		)	54			179			3			208
Provision for / (benefit from) income taxes			(11		)	15			43			1			48
Equity earnings / (loss) in affiliates	$	141	70			58						(269		)	—
Net income	141		53			97			136			(267		)	160
Net income attributable to noncontrolling interests									(19		)				(19		)
Net income attributable to Crown Holdings	$	141	$	53		$	97		$	117		$	(267	)	$	141
Comprehensive income	$	9	$	48		$	35		$	(25	)	$	(42	)	$	25
Comprehensive income attributable to noncontrolling interests									(16		)				(16		)
Comprehensive income attributable to Crown Holdings	$	9	$	48		$	35		$	(41	)	$	(42	)	$	9

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2014

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	571		$	2,023					$	2,594
Cost of products sold, excluding depreciation and amortization						445			1,674						2,119
Depreciation and amortization						8			45						53
Gross profit						118			304						422
Selling and administrative expense			$	3		32			60						95
Restructuring and other						1			7						8
Loss from early extinguishment of debt									34						34
Net interest expense			16			23			23						62
Technology royalty						(16		)	16						—
Foreign exchange									(2		)				(2		)
Income/(loss) before income taxes			(19		)	78			166						225
Provision for / (benefit from) income taxes			(7		)	33			(67		)				(41		)
Equity earnings / (loss) in affiliates	$	244	71			182						$	(497	)	—
Net income	244		59			227			233			(497		)	266
Net income attributable to noncontrolling interests									(22		)				(22		)
Net income attributable to Crown Holdings	$	244	$	59		$	227		$	211		$	(497	)	$	244
Comprehensive income	$	121	$	62		$	104		$	106		$	(251	)	$	142
Comprehensive income attributable to noncontrolling interests									(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	121	$	62		$	104		$	85		$	(251	)	$	121

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2015

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,555		$	5,180					$	6,735
Cost of products sold, excluding depreciation and amortization						1,235			4,252						5,487
Depreciation and amortization						24			150						174
Gross profit						296			778						1,074
Selling and administrative expense			$	7		115			169						291
Restructuring and other						5			52						57
Loss from early extinguishment of debt			9												9
Net interest expense			67			69			58						194
Technology royalty						(32		)	32						—
Foreign exchange			11						14			$	(11	)	14
Income/(loss) before income taxes			(94		)	139			453			11			509
Provision for / (benefit from) income taxes			(36		)	61			105			4			134
Equity earnings / (loss) in affiliates	$	327	158			160						(645		)	—
Net income	327		100			238			348			(638		)	375
Net income attributable to noncontrolling interests									(48		)				(48		)
Net income attributable to Crown Holdings	$	327	$	100		$	238		$	300		$	(638	)	$	327
Comprehensive Income	$	3	$	101		$	73		$	(5	)	$	(126	)	$	46
Comprehensive income attributable to noncontrolling interests									(43		)				(43		)
Comprehensive income attributable to Crown Holdings	$	3	$	101		$	73		$	(48	)	$	(126	)	$	3

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2014

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,642		$	5,328					$	6,970
Cost of products sold, excluding depreciation and amortization						1,305			4,435						5,740
Depreciation and amortization						23			112						135
Gross profit						314			781						1,095
Selling and administrative expense			$	7		105			190						302
Restructuring and other			1			44			46						91
Loss from early extinguishment of debt									34						34
Net interest expense			43			66			74						183
Technology royalty						(40		)	40						—
Foreign exchange									4						4
Income/(loss) before income taxes			(51		)	139			393						481
Provision for / (benefit from) income taxes			(19		)	74			(13		)				42
Equity earnings / (loss) in affiliates	$	374	170			296						$	(840	)	—
Net income	374		138			361			406			(840		)	439
Net income attributable to noncontrolling interests									(65		)				(65		)
Net income attributable to Crown Holdings	$	374	$	138		$	361		$	341		$	(840	)	$	374
Comprehensive income	$	293	$	151		$	280		$	314		$	(678	)	$	360
Comprehensive income attributable to noncontrolling interests									(67		)				(67		)
Comprehensive income attirbutable to Crown Holdings	$	293	$	151		$	280		$	247		$	(678	)	$	293

Condensed Combining Balance Sheet

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2015

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	32			$	434				$	466
Receivables, net					$	7	1,176					1,183
Intercompany receivables					41		9		$	(50	)	—
Inventories					281		1,021					1,302
Prepaid expenses and other current assets	$	1	1		76		233					311
Total current assets	1		33		405		2,873		(50		)	3,262
Intercompany debt receivables			3,201		3,665		693		(7,559		)	—
Investments	3,064		2,158		805				(6,027		)	—
Goodwill and intangible assets					472		3,192					3,664
Property, plant and equipment, net			1		330		2,283					2,614
Other non-current assets			45		394		250					689
Total	$	3,065	$	5,438	$	6,071	$	9,291	$	(13,636	)	$	10,229
Liabilities and equity
Current liabilities
Short-term debt							$	61				$	61
Current maturities of long-term debt			$	48			94					142
Accounts payable and accrued liabilities	$	19	24		$	485	1,999					2,527
Intercompany payables					9		41		$	(50	)	—
Total current liabilities	19		72		494		2,195		(50		)	2,730
Long-term debt, excluding current maturities			2,886		412		2,310					5,608
Long-term intercompany debt	2,906		1,266		3,178		209		(7,559		)	—
Postretirement and pension liabilities					384		402					786
Other non-current liabilities					295		377					672
Commitments and contingent liabilities
Noncontrolling interests							293					293
Crown Holdings shareholders’ equity/(deficit)	140		1,214		1,308		3,505		(6,027		)	140
Total equity/(deficit)	140		1,214		1,308		3,798		(6,027		)	433
Total	$	3,065	$	5,438	$	6,071	$	9,291	$	(13,636	)	$	10,229

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2014

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	128			$	837				$	965
Receivables, net					$	18	1,013					1,031
Intercompany receivables					20		11		$	(31	)	—
Inventories					291		1,033					1,324
Prepaid expenses and other current assets	$	1	4		75		176					256
Assets held for sale							48					48
Total current assets	1		132		404		3,118		(31		)	3,624
Intercompany debt receivables			2,415		2,640		27		(5,082		)	—
Investments	2,199		2,005		850				(5,054		)	—
Goodwill and intangible assets					473		2,453					2,926
Property, plant and equipment, net			1		328		2,108					2,437
Other non-current assets			51		413		257					721
Total	$	2,200	$	4,604	$	5,108	$	7,963	$	(10,167	)	$	9,708
Liabilities and equity
Current liabilities
Short-term debt							$	75				$	75
Current maturities of long-term debt					$	44	133					177
Accounts payable and accrued liabilities	$	20	$	49	480		2,102					2,651
Intercompany payables					11		20		$	(31	)	—
Liabilities related to assets held for sale							23					23
Total current liabilities	20		49		535		2,353		(31		)	2,926
Long-term debt, excluding current maturities			2,858		368		1,781					5,007
Long-term intercompany debt	2,061		584		2,199		238		(5,082		)	—
Postretirement and pension liabilities					464		407					871
Other non-current liabilities					307		210					517
Commitments and contingent liabilities
Noncontrolling interests							268					268
Crown Holdings shareholders’ equity/(deficit)	119		1,113		1,235		2,706		(5,054		)	119
Total equity/(deficit)	119		1,113		1,235		2,974		(5,054		)	387
Total	$	2,200	$	4,604	$	5,108	$	7,963	$	(10,167	)	$	9,708

Condensed Combining Statement of Cash Flows

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2015

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	24		$	(53	)	$	76		$	268					$	315
Cash flows from investing activities
Capital expenditures							(30		)	(146		)				(176		)
Purchase of business										(1,207		)				(1,207		)
Proceeds from sale of property, plant and equipment							1			2						3
Proceeds from sale of business										33						33
Intercompany investing activities	(865		)	7			9			865			$	(16	)	—
Net investment hedge settlements				(11		)										(11		)
Other							(10		)	(6		)				(16		)
Net cash provided by/(used for) investing activities	(865		)	(4		)	(30		)	(459		)	(16		)	(1,374		)
Cash flows from financing activities
Proceeds from long-term debt				750						685						1,435
Payments of long-term debt				(675		)				(105		)				(780		)
Net change in revolving credit facility and short-term debt										34						34
Net change in long-term intercompany balances	845			(104		)	(46		)	(695		)				—
Debt issue costs				(10		)				(8		)				(18		)
Common stock issued	5															5
Common stock repurchased	(9		)													(9		)
Dividends paid										(16		)	16			—
Contributions from noncontrolling interests										3						3
Dividends paid to noncontrolling interests										(21		)				(21		)
Foreign exchange derivatives related to debt										(38		)				(38		)
Net cash provided by/(used for) financing activities	841			(39		)	(46		)	(161		)	16			611
Effect of exchange rate changes on cash and cash equivalents										(51		)				(51		)
Net change in cash and cash equivalents	—			(96		)	—			(403		)	—			(499		)
Cash and cash equivalents at January 1				128						837						965
Cash and cash equivalents at September 30	$	—		$	32		$	—		$	434		$	—		$	466

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2014

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	14		$	(48	)	$	65		$	(22	)				$	9
Cash flows from investing activities
Capital expenditures							(27		)	(185		)				(212		)
Purchase of business										(733		)				(733		)
Proceeds from sale of property, plant and equipment							4			5						9
Proceeds from sale of business										22						22
Intercompany investing activities	(941		)	5			51			941			$	(56	)	—
Other										2						2
Net cash provided by/(used for) investing activities	(941		)	5			28			52			(56		)	(912		)
Cash flows from financing activities
Proceeds from long-term debt				942						1,800						2,742
Payments of long-term debt										(1,720		)				(1,720		)
Net change in revolving credit facility and short-term debt										(232		)				(232		)
Net change in long-term intercompany balances	918			(1,015		)	(18		)	115						—
Debt issue costs				(24		)				(17		)				(41		)
Common stock issued	11															11
Common stock repurchased	(2		)													(2		)
Dividends paid										(56		)	56			—
Purchase of noncontrolling interests							(76		)	(17		)				(93		)
Dividends paid to noncontrolling interests										(45		)				(45		)
Foreign exchange derivatives related to debt										(14		)				(14		)
Net cash provided by/(used for) financing activities	927			(97		)	(94		)	(186		)	56			606
Effect of exchange rate changes on cash and cash equivalents										(12		)				(12		)
Net change in cash and cash equivalents	—			(140		)	(1		)	(168		)	—			(309		)
Cash and cash equivalents at January 1				177			2			510						689
Cash and cash equivalents at September 30	$	—		$	37		$	1		$	342		$	—		$	380

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Restructuring and Other (Restructuring Charges by Action/Type) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring Reserve [Abstract]
Asset impairments and sales	$ 14	$ (2)	$ 15	$ 40
Restructuring	20	6	21	19
Transaction costs	0	0	15	14
Other costs	6	4	6	18
Restructuring and other	$ 40	$ 8	$ 57	$ 91

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Condensed Combining Financial Information (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
U.S. Dollar 7.375% due 2026 [Member]
Principal amount	$ 350	$ 350
Debt instrument stated percentage	7.375%
U.S. Dollar 7.50% due 2096 [Member]
Principal amount	$ 64	64
Debt instrument stated percentage	7.50%
U S Dollar 4.5% due 2023 [Member]
Principal amount	$ 1,000	$ 1,000
Debt instrument stated percentage	4.50%
Crown Cork & Seal Company Inc [Member]
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	100.00%
Crown Cork & Seal Company Inc [Member] | U.S. Dollar 7.375% due 2026 [Member]
Principal amount	$ 350
Debt instrument stated percentage	7.375%
Crown Cork & Seal Company Inc [Member] | U.S. Dollar 7.50% due 2096 [Member]
Principal amount	$ 64
Debt instrument stated percentage	7.50%
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member]
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	100.00%
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | 6.25% Senior Notes Due 2021 [Member]
Principal amount	$ 700
Debt instrument stated percentage	6.25%
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | U S Dollar 4.5% due 2023 [Member]
Principal amount	$ 1,000
Debt instrument stated percentage	4.50%

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Earnings Per Share (Computations Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income attributable to Crown Holdings	$ 141	$ 244	$ 327	$ 374
Weighted average shares outstanding:
Basic	138.1	137.4	137.9	137.2
Add: dilutive stock options and restricted stock	1.0	1.3	1.1	1.2
Diluted	139.1	138.7	139.0	138.4
Basic earnings per share (in usd per share)	$ 1.02	$ 1.78	$ 2.37	$ 2.73
Diluted earnings per share (in usd per share)	$ 1.01	$ 1.76	$ 2.35	$ 2.70
Shares excluded from the computation of diluted earnings per share		0.1		0.1

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Derivative and Other Financial Instruments (Accumulated Other Comprehensive Income ("AOCI") and Earnings from Changes in Fair Value Related to Derivative Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/(loss) recognized in AOCI (effective portion)	$ (14)	$ 7	$ (28)	$ 8
Amount of gain/(loss) reclassified from AOCI into earnings	(9)	(3)	(13)	(21)
Foreign Exchange [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/(loss) recognized in AOCI (effective portion)	1	(2)	(2)	0
Amount of gain/(loss) reclassified from AOCI into earnings	0	(2)	(1)	(3)
Commodities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/(loss) recognized in AOCI (effective portion)	(15)	9	(26)	8
Amount of gain/(loss) reclassified from AOCI into earnings	$ (9)	$ (1)	$ (12)	$ (18)

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Acquisitions

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

C. Acquisitions

Empaque

On February 18, 2015, the Company completed its acquisition of Empaque, a leading manufacturer of beverage packaging in Mexico, from Heineken N.V., in a cash transaction valued at $1.2 billion. The addition of Empaque significantly increases the Company's presence in the growing Mexican market and substantially enhances the Company's strategic position in beverage cans, both regionally and globally.

The following table summarizes the consideration transferred to acquire Empaque and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date.

Fair value of consideration transferred
Cash	$	1,207
Total consideration	$	1,207
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net	106
Inventories	55
Prepaid expenses and other current assets	1
Intangible assets	460
Property, plant and equipment, net	294
Accounts payable and accrued liabilities	(89		)
Other non-current liabilities	(223		)
Total identifiable net assets	$	604
Goodwill	$	603

The acquired goodwill was assigned to the Company's Americas Beverage segment and is not expected to be deductible for tax purposes.

The acquired property, plant and equipment will be depreciated over the estimated remaining useful lives of the equipment in accordance with the Company's existing policies and procedures, primarily on a straight-line basis.

Intangible assets include $162 of customer relationships that will be amortized over 18 years and $298 for a long-term supply contract with Heineken affiliates that will be amortized over 15 years.

The Company has not finalized its valuation of the assets acquired and as a result has not yet finalized the determination of the fair value of assets acquired and liabilities assumed. The Company expects to finalize its purchase accounting within one year of the acquisition date.

During the three and nine months ended September 30, 2015, Empaque contributed sales of approximately $153 and $401, respectively.

Mivisa

On April 23, 2014 , the Company completed its previously announced acquisition of the sole shareholder of Mivisa Envases, S.A.U. (“Mivisa”) for $733, net of $28 in cash acquired, plus $977 of debt assumed. Mivisa, based in Murcia, Spain, primarily serves the vegetable, fruit, fish and meat markets and is the largest food can producer in both the Iberian Peninsula and Morocco.

The following table summarizes the final fair value of identifiable assets and liabilities assumed at the date of the acquisition.

Fair value of consideration transferred
Cash	$	733
Total consideration	$	733
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net	201
Inventories	195
Prepaid expenses and other current assets	11
Intangible assets	295
Property, plant and equipment, net	318
Net assets of business to be divested	9
Accounts payable and accrued liabilities	(159		)
Debt	(977		)
Other non-current liabilities	(98		)
Total identifiable net assets	$	(205	)
Goodwill	$	938

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Pension and Other Postretirement Benefits (Components Of Net Periodic Pension And Other Postretirement Benefits Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pension Benefits - U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2	$ 3	$ 11	$ 11
Defined Benefit Plan, Interest Cost	16	15	47	48
Expected return on plan assets	(25)	(26)	(75)	(78)
Recognized net loss	13	11	38	32
Net periodic cost	6	3	21	13
Pension Benefits - Non-U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	4	19	17
Defined Benefit Plan, Interest Cost	31	34	94	115
Expected return on plan assets	(43)	(43)	(129)	(145)
Recognized prior service cost (credit)	(3)	(3)	(10)	(11)
Recognized net loss	13	15	40	52
Net periodic cost	4	7	14	28
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1	1	2
Defined Benefit Plan, Interest Cost	2	1	6	7
Recognized prior service cost (credit)	(10)	(8)	(27)	(25)
Recognized net loss	0	2	3	6
Net periodic cost	(7)	$ (4)	$ (17)	$ (10)
Decrease in Pension and Postretirement Obligations	$ 54

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Stock-Based Compensation (Summary Of Restricted Stock Transactions) (Details) - shares	1 Months Ended		9 Months Ended
	Jun. 30, 2015	Jan. 30, 2015	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares outstanding		1,960,357	1,960,357
Nonvested shares outstanding			1,785,400
Time Vested Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awarded during the period	175,200		268,680
Stock released during the period			(373,741)
Forfeitures			(54,800)
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awarded during the period		201,092	201,092
Stock released during the period			(155,180)
Forfeitures			(61,008)

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Derivative and Other Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Accumulated Other Comprehensive Income (AOCI) and Earnings From Changes In Fair Value Related To Derivative Instruments

The following table sets forth financial information about the impact on accumulated other comprehensive income (“AOCI”) and earnings from changes in the fair value of derivative instruments.

	Amount of gain/(loss)						Amount of gain/(loss)
	recognized in AOCI						reclassified from AOCI
	(effective portion)						into earnings
	Three Months Ended			Nine Months Ended			Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2015			September 30, 2015			September 30, 2015			September 30, 2015
Foreign exchange	$	1		$	(2	)	$	—		$	(1	)
Commodities	(15		)	(26		)	(9		)	(12		)
Total	$	(14	)	$	(28	)	$	(9	)	$	(13	)

	Amount of gain/(loss)					Amount of gain/(loss)
	recognized in AOCI					reclassified from AOCI
	(effective portion)					into earnings
	Three Months Ended			Nine Months Ended		Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2014			September 30, 2014		September 30, 2014			September 30, 2014
Foreign exchange	$	(2	)	$	—	$	(2	)	$	(3	)
Commodities	9			8		(1		)	(18		)
Total	$	7		$	8	$	(3	)	$	(21	)

Fair Value of Outstanding Derivative Instruments in the Consolidated Balance Sheets

The following table sets forth the fair value hierarchy for the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, respectively.

	Balance Sheet classification	Fair Value hierarchy	September 30, 2015		December 31, 2014
Derivative assets
Derivatives designated as hedges:
Foreign exchange	Other current assets	2	$	19	$	20
Commodities	Other current assets	2	4		2
Commodities	Other non-current assets	2	1		—
	Total		$	24	$	22
Derivative liabilities
Derivatives designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	$	15	$	20
Commodities	Accounts payable and accrued liabilities	2	23		10
Commodities	Other non-current liabilities	2	3		—
Derivatives not designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	2		15
Commodities	Accounts payable and accrued liabilities	2	5		—
Commodities	Other non-current liabilities	2	1		—
	Total		$	49	$	45

Schedule of Offsetting Derivative Assets and Liabilities

In the table below, the aggregate fair values of the Company's derivative assets and liabilities are presented on both a gross and net basis, where appropriate.

	Gross amounts recognized in the Balance Sheet	Gross amounts not offset in the Balance Sheet	Net amount
Balance at September 30, 2015
Derivative assets	$24	$6	$18
Derivative liabilities	49	6	43
Balance at December 31, 2014
Derivative assets	22	4	18
Derivative liabilities	45	4	41

Notional Values of Outstanding Derivative Instruments in the Consolidated Balance Sheet

The aggregate U.S. dollar-equivalent notational values of outstanding derivative instruments in the Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 were:

	September 30, 2015		December 31, 2014
Derivatives in cash flow hedges:
Foreign exchange	$	223	$	678
Commodities	284		213
Derivatives in fair value hedges:
Foreign exchange	88		85
Derivatives not designated as hedges:
Foreign exchange	595		603
Commodities	61		—

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Inventories (Tables)

9 Months Ended

Sep. 30, 2015

Inventory, Gross [Abstract]

Components of Inventories

	September 30, 2015		December 31, 2014
Raw materials and supplies	$	623	$	684
Work in process	157		134
Finished goods	522		506
	$	1,302	$	1,324

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Asbestos-Related Liabilities (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($)	Dec. 31, 2014
Liability for Asbestos and Environmental Claims [Abstract]
Holding period for insulation operations (in days)	90 days
Liability for asbestos and environmental claims net claims paid	$ 12
Inactive claims (in claims)	19,000
Accrued asbestos claims and related legal costs	$ 257
Unasserted claims	$ 202
Percentage of claims that do not specify damages		88.00%

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Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Accounts receivable	$ 1,064	$ 940
Less: allowance for doubtful accounts	(84)	(88)
Net trade receivables	980	852
Miscellaneous receivables	203	179
Receivables, net	1,183	$ 1,031
North American Facility [Member]
Deferred purchase price	$ 109

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Restructuring and Other (Tables)

9 Months Ended

Sep. 30, 2015

Restructuring and Other Charges

The Company recorded restructuring and other charges as follows:

	Three Months Ended					Nine Months Ended
	September 30					September 30
	2015		2014			2015		2014
Asset impairments and sales	$	14	$	(2	)	$	15	$	40
Restructuring	20		6			21		19
Transaction costs	—		—			15		14
Other costs	6		4			6		18
	40		8			$	57	91

2015 European Division Actions [Member]

Restructuring Accrual Balances and Utilization by Cost Type

The table below summarizes the restructuring accrual balances and utilization by cost type for this action.

	Termination benefits		Other exit costs		Total
Balance at January 1, 2015	$	—	$	—	$	—
Provision	17		—		$	17
Balance at September 30, 2015	$	17	$	—	$	17

2013 European Division Actions [Member]

Restructuring Accrual Balances and Utilization by Cost Type

The table below summarizes the restructuring accrual balances and utilization by cost type for this action.

	Termination benefits			Other exit costs		Total
Balance at January 1, 2015	$	14		$	—	$	14
Payments	(8		)	—		(8		)
Foreign currency translation	(1		)	—		(1		)
Balance at September 30, 2015	$	5		$	—	$	5

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Debt (Tables)

9 Months Ended

Sep. 30, 2015

Debt and Capital Lease Obligations [Abstract]

Summary of Outstanding Debt

The Company’s outstanding debt was as follows:

	September 30, 2015			December 31, 2014
Short-term debt	$	61		$	75
Long-term debt
Senior secured borrowings:
Revolving credit facilities	$	45		$	—
Term loan facilities
U.S. dollar at LIBOR plus 1.75% due 2018	875			800
Euro (€700 at September 30, 2015) at EURIBOR plus 1.75% due 2018	782			847
Farm credit facility at LIBOR plus 2.00% due 2019	358			358
Senior notes and debentures:
U.S. dollar 6.25% due 2021	700			700
Euro (€650 at September 30, 2015) 4.0% due 2022	726			786
U.S. dollar 4.50% due 2023	1,000			1,000
Euro (€600 at September 30, 2015) 3.375% due 2025	671			—
U.S. dollar 7.375% due 2026	350			350
U.S. dollar 7.50% due 2096	64			64
Other indebtedness in various currencies	181			281
Unamortized discounts	(2		)	(2		)
Total long-term debt	5,750			5,184
Less: current maturities	(142		)	(177		)
Total long-term debt, less current maturities	$	5,608		$	5,007

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Accounting and Reporting Developments

9 Months Ended

Sep. 30, 2015

Accounting Changes and Error Corrections [Abstract]

Accounting and Reporting Developments

Accounting and Reporting Developments

Recently Adopted Accounting Standards

In the first quarter of 2015, the Company adopted changes to the definition of discontinued operations to include only disposals that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The change did not impact the Company's financial statements in 2015.

In September 2015, the FASB issued new guidance related to accounting for measurement-period adjustments. The new guidance requires that the cumulative impact of a measurement period adjustment, including the impact on prior periods, be recognized in the reporting period in which the adjustment is identified. Early adoption is permitted and the Company has elected to early adopted this standard during the third quarter of 2015. The change did not materially impact the Company's financial statements in 2015.

Recently Issued Accounting Standards

In May 2014, the FASB issued new guidance related to how an entity should recognize revenue. The guidance specifies that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. In addition, the guidance expands the required disclosures related to revenue and cash flows from contracts with customers. The guidance is effective for the Company beginning in the first quarter of 2018 with early adoption permitted beginning in the first quarter of 2017. Retrospective application is permitted, but not required. The Company is currently evaluating the impact of adopting this guidance on its financial position and results of operations.

In April 2015, the FASB issued new guidance related to the classification of debt issuance costs. The guidance requires the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the liability instead of a deferred charge. The guidance is effective for the Company beginning in the first quarter of 2016. Early adoption is permitted and the Company is currently assessing whether to early adopt. The guidance is not expected to impact the Company's financial statements other than presentation on the balance sheet.

In July 2015, the FASB issued new guidance related to the subsequent measurement of inventory. Under existing guidance, inventory was measured at the lower of cost or market, where market was defined as replacement cost, with a ceiling of net realizable value and floor of net realizable value less a normal profit margin. The new guidance requires an entity to subsequently measure inventory at the lower of cost or net realizable value, which is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The guidance will be effective for the Company on January 1, 2017 and early adoption is permitted. The guidance is not expected to have a material effect on the Company’s consolidated financial statements.

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Asbestos-Related Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

Liability for Asbestos and Environmental Claims [Abstract]

Summary of Claims Activity

During the nine months ended September 30, 2015, the Company paid $12 to settle outstanding claims and had claims activity as follows:

Beginning claims	54,000
New claims	2,000
Settlements or dismissals	(2,000	)
Ending claims	54,000

Summary of Outstanding Asbestos Claims by Years of Exposure and State Filed

In the fourth quarter of each year, the Company performs an analysis of outstanding claims and categorizes these claims by year of exposure and state filed. As of December 31, 2014, the Company's outstanding claims were:

Claimants alleging first exposure after 1964	16,000
Claimants alleging first exposure before or during 1964 filed in:
Texas	13,000
Pennsylvania	2,000
Other states that have enacted asbestos legislation	6,000
Other states	17,000
Total claims outstanding	54,000

Summary of Percentage of Outstanding Claims Related to Claimants Alleging Serious Diseases

As of December 31, the percentage of outstanding claims related to claimants alleging serious diseases (primarily mesothelioma and other malignancies) were as follows:

	2014		2013		2012
Total claims	22	%	21	%	19	%
Pre-1964 claims in states without asbestos legislation	41	%	39	%	36	%

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Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ (2,765)	$ (2,513)
Other comprehensive income (loss) before reclassifications	(369)	(153)
Amounts reclassified from accumulated other comprehensive income	45	72
Other comprehensive income (loss)	(324)	(81)
Balance at end of period	(3,089)	(2,594)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(1,781)	(1,828)
Other comprehensive income (loss) before reclassifications	16	0
Amounts reclassified from accumulated other comprehensive income	32	51
Other comprehensive income (loss)	48	51
Balance at end of period	(1,733)	(1,777)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(980)	(658)
Other comprehensive income (loss) before reclassifications	(357)	(161)
Amounts reclassified from accumulated other comprehensive income	0	0
Other comprehensive income (loss)	(357)	(161)
Balance at end of period	(1,337)	(819)
Gains and Losses on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(4)	(27)
Other comprehensive income (loss) before reclassifications	(28)	8
Amounts reclassified from accumulated other comprehensive income	13	21
Other comprehensive income (loss)	(15)	29
Balance at end of period	$ (19)	$ 2

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Restructuring and Other (Components of Outstanding Restructuring Reserve and Movements) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring Reserve [Roll Forward]
Provision	$ 20	$ 6	$ 21	$ 19
2015 European Division Actions [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period			0
Provision			17
Balance at end of period	17		17
2013 European Division Actions [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period			14
Payments			(8)
Foreign currency translation			(1)
Balance at end of period	5		5
Termination Benefits [Member] | 2015 European Division Actions [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period			0
Provision			17
Balance at end of period	17		17
Termination Benefits [Member] | 2013 European Division Actions [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period			14
Payments			(8)
Foreign currency translation			(1)
Balance at end of period	5		5
Other Exit Costs [Member] | 2015 European Division Actions [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period			0
Provision			0
Balance at end of period	0		0
Other Exit Costs [Member] | 2013 European Division Actions [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period			0
Payments			0
Foreign currency translation			0
Balance at end of period	$ 0		$ 0

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Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Net sales	$ 2,460	$ 2,594	$ 6,735	$ 6,970
Cost of products sold, excluding depreciation and amortization	1,984	2,119	5,487	5,740
Depreciation and amortization	61	53	174	135
Gross profit	415	422	1,074	1,095
Selling and administrative expense	94	95	291	302
Restructuring and other	40	8	57	91
Loss from early extinguishments of debt	0	34	9	34
Interest expense	68	64	202	188
Interest income	(4)	(2)	(8)	(5)
Foreign exchange	9	(2)	14	4
Income before income taxes	208	225	509	481
Provision for / (benefits from) income taxes	48	(41)	134	42
Net income	160	266	375	439
Net income attributable to noncontrolling interests	(19)	(22)	(48)	(65)
Net income attributable to Crown Holdings	$ 141	$ 244	$ 327	$ 374
Earnings per common share attributable to Crown Holdings:
Basic (in usd per share)	$ 1.02	$ 1.78	$ 2.37	$ 2.73
Diluted (in usd per share)	$ 1.01	$ 1.76	$ 2.35	$ 2.70

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Inventories (Components Of Inventories) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Inventory, Gross [Abstract]
Raw materials and supplies	$ 623	$ 684
Work in process	157	134
Finished goods	522	506
Total inventories	$ 1,302	$ 1,324

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Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Paid-In Capital [Member]	Accumulated Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Total Crown Equity [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2013	$ 289	$ 929	$ 431	$ 1,395	$ (2,513)	$ (238)	$ 4	$ 285
Net income attributable to Crown Holdings	374			374			374
Net income attributable to noncontrolling interests	65							65
Net income	439
Other comprehensive income	(79)				$ (81)		(81)	2
Dividends paid to noncontrolling interests	(30)						0	(30)
Stock-based compensation	18		18				18
Common stock issued	11		8			$ 3	11
Common stock repurchased	(2)		(2)				(2)
Purchase of noncontrolling interests	(98)		(54)				(54)	(44)
Balance at Sep. 30, 2014	548	929	401	1,769	$ (2,594)	$ (235)	270	278
Balance at Dec. 31, 2014	387	929	407	1,782	(2,765)	(234)	119	268
Net income attributable to Crown Holdings	327			327			327
Net income attributable to noncontrolling interests	48							48
Net income	375
Other comprehensive income	(329)				(324)		(324)	(5)
Dividends paid to noncontrolling interests	(21)						0	(21)
Contribution from noncontrolling interests	3							3
Restricted stock awarded	0		(2)			2	0
Stock-based compensation	22		22				22
Common stock issued	5		4			1	5
Common stock repurchased	(9)		(8)			(1)	(9)
Balance at Sep. 30, 2015	$ 433	$ 929	$ 423	$ 2,109	$ (3,089)	$ (232)	$ 140	$ 293

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Asbestos-Related Liabilities (Summary of Percentage of Outstanding Claims Related to Claimants Alleging Serious Diseases) (Details)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims alleging serious diseases	22.00%	21.00%	19.00%
Pre-1964 Claims in States without Asbestos Legislation [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims alleging serious diseases	41.00%	39.00%	36.00%

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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of U.S. Statutory Federal Income Tax Rate to Pre-tax Income

The provision for income taxes differs from the amount of income tax determined by applying the U.S. statutory federal income tax rate to pre-tax income as a result of the following items:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
U.S. statutory rate at 35%	$	73		$	78		$	178		$	168
Tax on foreign income	(27		)	(30		)	(66		)	(74		)
Tax contingencies	—			—			8			—
Valuation allowance	2			(91		)	7			(81		)
Non-deductible impairment charge	—			—			1			15
Other items, net	—			2			6			14
Income tax provision	$	48		$	(41	)	$	134		$	42

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Segment Information (Information about Operating Segments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Total, external sales	$ 2,460	$ 2,594	$ 6,735	$ 6,970
Other Segments [Member]
Segment Reporting Information [Line Items]
Segment reporting, description of all other segments			The primary sources of revenue included in non-reportable segments are the Company's aerosol can businesses in North America and Europe, the Company's specialty packaging business in Europe and the Company's tooling and equipment operations in the U.S. and United Kingdom.
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	2,290	2,377	$ 6,267	6,338
Segment Income of reportable segments	350	343	869	875
Operating Segments [Member] | Americas Beverage [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	722	570	2,080	1,713
Segment Income of reportable segments	116	77	300	241
Operating Segments [Member] | North America Food [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	200	236	530	628
Segment Income of reportable segments	25	40	72	107
Operating Segments [Member] | European Beverage [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	427	474	1,173	1,358
Segment Income of reportable segments	74	81	178	223
Operating Segments [Member] | European Food [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	641	787	1,564	1,715
Segment Income of reportable segments	98	107	208	196
Operating Segments [Member] | Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	300	310	920	924
Segment Income of reportable segments	37	38	111	108
Segment Reconciling Items [Member] | Other Segments [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	170	217	468	632
Segment Income of reportable segments	25	26	62	72
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	65	71	217	232
Intersegment Eliminations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	46	42	144	145
Intersegment Eliminations [Member] | Americas Beverage [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	16	19	61	70
Intersegment Eliminations [Member] | North America Food [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	1	1	3	5
Intersegment Eliminations [Member] | European Beverage [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	1	0	1	1
Intersegment Eliminations [Member] | European Food [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	26	22	77	69
Intersegment Eliminations [Member] | Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	2	0	2	0
Intersegment Eliminations [Member] | Other Segments [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	$ 19	$ 29	$ 73	$ 87

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Segment Information

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company evaluates performance and allocates resources based on segment income. Segment income, which is not a defined term under GAAP, is defined by the Company as gross profit excluding the impact of fair value adjustments related to the sale of inventory acquired in an acquisition and the timing impact of hedge ineffectiveness, less selling and administrative expenses. Segment income should not be considered in isolation or as a substitute for net income data prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies.

The tables below present information about the Company's operating segments.

	External Sales				External Sales
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	722	$	570	$	2,080	$	1,713
North America Food	200		236		530		628
European Beverage	427		474		1,173		1,358
European Food	641		787		1,564		1,715
Asia Pacific	300		310		920		924
Total reportable segments	2,290		2,377		6,267		6,338
Non-reportable segments	170		217		468		632
Total	$	2,460	$	2,594	$	6,735	$	6,970

The primary sources of revenue included in non-reportable segments are the Company's aerosol can businesses in North America and Europe, the Company's specialty packaging business in Europe and the Company's tooling and equipment operations in the U.S. and United Kingdom.

	Intersegment Sales				Intersegment Sales
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	16	$	19	$	61	$	70
North America Food	1		1		3		5
European Beverage	1		—		1		1
European Food	26		22		77		69
Asia Pacific	2		—		2		—
Total reportable segments	46		42		144		145
Non-reportable segments	19		29		73		87
Total	$	65	$	71	$	217	$	232

Intersegment sales primarily include sales of ends and components used to manufacture cans, such as printed and coated metal, as well as parts and equipment used in the manufacturing process.

	Segment Income				Segment Income
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	116	$	77	$	300	$	241
North America Food	25		40		72		107
European Beverage	74		81		178		223
European Food	98		107		208		196
Asia Pacific	37		38		111		108
Total reportable segments	$	350	$	343	$	869	$	875

A reconciliation of segment income of reportable segments to income before income taxes and equity earnings is as follows:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Segment income of reportable segments	$	350		$	343		$	869		$	875
Segment income of non-reportable segments	25			26			62			72
Corporate and unallocated items	(54		)	(42		)	(148		)	(154		)
Restructuring and other	(40		)	(8		)	(57		)	(91		)
Loss from early extinguishments of debt	—			(34		)	(9		)	(34		)
Interest expense	(68		)	(64		)	(202		)	(188		)
Interest income	4			2			8			5
Foreign exchange	(9		)	2			(14		)	(4		)
Income before income taxes	$	208		$	225		$	509		$	481

Corporate and unallocated items includes corporate and division administrative costs, technology costs, and unallocated items such as the U.S. and U.K. pension plan costs, fair value adjustments for the sale of inventory acquired in an acquisition and the timing impact of hedge ineffectiveness.

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Segment Information (Tables)

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Information of Information about Operating Segments

The tables below present information about the Company's operating segments.

	External Sales				External Sales
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	722	$	570	$	2,080	$	1,713
North America Food	200		236		530		628
European Beverage	427		474		1,173		1,358
European Food	641		787		1,564		1,715
Asia Pacific	300		310		920		924
Total reportable segments	2,290		2,377		6,267		6,338
Non-reportable segments	170		217		468		632
Total	$	2,460	$	2,594	$	6,735	$	6,970

The primary sources of revenue included in non-reportable segments are the Company's aerosol can businesses in North America and Europe, the Company's specialty packaging business in Europe and the Company's tooling and equipment operations in the U.S. and United Kingdom.

	Intersegment Sales				Intersegment Sales
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	16	$	19	$	61	$	70
North America Food	1		1		3		5
European Beverage	1		—		1		1
European Food	26		22		77		69
Asia Pacific	2		—		2		—
Total reportable segments	46		42		144		145
Non-reportable segments	19		29		73		87
Total	$	65	$	71	$	217	$	232

Intersegment sales primarily include sales of ends and components used to manufacture cans, such as printed and coated metal, as well as parts and equipment used in the manufacturing process.

	Segment Income				Segment Income
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Americas Beverage	$	116	$	77	$	300	$	241
North America Food	25		40		72		107
European Beverage	74		81		178		223
European Food	98		107		208		196
Asia Pacific	37		38		111		108
Total reportable segments	$	350	$	343	$	869	$	875

Reconciliation of Segment Income

A reconciliation of segment income of reportable segments to income before income taxes and equity earnings is as follows:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Segment income of reportable segments	$	350		$	343		$	869		$	875
Segment income of non-reportable segments	25			26			62			72
Corporate and unallocated items	(54		)	(42		)	(148		)	(154		)
Restructuring and other	(40		)	(8		)	(57		)	(91		)
Loss from early extinguishments of debt	—			(34		)	(9		)	(34		)
Interest expense	(68		)	(64		)	(202		)	(188		)
Interest income	4			2			8			5
Foreign exchange	(9		)	2			(14		)	(4		)
Income before income taxes	$	208		$	225		$	509		$	481

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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2015

Empaque [Member]

Business Acquisition [Line Items]

Acquisitions

The following table summarizes the consideration transferred to acquire Empaque and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date.

Fair value of consideration transferred
Cash	$	1,207
Total consideration	$	1,207
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net	106
Inventories	55
Prepaid expenses and other current assets	1
Intangible assets	460
Property, plant and equipment, net	294
Accounts payable and accrued liabilities	(89		)
Other non-current liabilities	(223		)
Total identifiable net assets	$	604
Goodwill	$	603

Mivisa Envases, S.A.U. [Member]

Business Acquisition [Line Items]

Acquisitions

The following table summarizes the final fair value of identifiable assets and liabilities assumed at the date of the acquisition.

Fair value of consideration transferred
Cash	$	733
Total consideration	$	733
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net	201
Inventories	195
Prepaid expenses and other current assets	11
Intangible assets	295
Property, plant and equipment, net	318
Net assets of business to be divested	9
Accounts payable and accrued liabilities	(159		)
Debt	(977		)
Other non-current liabilities	(98		)
Total identifiable net assets	$	(205	)
Goodwill	$	938

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Condensed Combining Financial Information (Condensed Combining Statement Of Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 2,460	$ 2,594	$ 6,735	$ 6,970
Cost of products sold, excluding depreciation and amortization	1,984	2,119	5,487	5,740
Depreciation and amortization	61	53	174	135
Gross profit	415	422	1,074	1,095
Selling and administrative expense	94	95	291	302
Restructuring and other	40	8	57	91
Loss from early extinguishments of debt	0	34	9	34
Foreign exchange	9	(2)	14	4
Income before income taxes	208	225	509	481
Provision for / (benefits from) income taxes	48	(41)	134	42
Net income	160	266	375	439
Net income attributable to noncontrolling interests	(19)	(22)	(48)	(65)
Net income attributable to Crown Holdings	141	244	327	374
Comprehensive income	25	142	46	360
Comprehensive income attributable to Crown Holdings	9	121	3	293
Crown Cork & Seal Company Inc [Member]
Net sales	2,460	2,594	6,735	6,970
Cost of products sold, excluding depreciation and amortization	1,984	2,119	5,487	5,740
Depreciation and amortization	61	53	174	135
Gross profit	415	422	1,074	1,095
Selling and administrative expense	94	95	291	302
Restructuring and other	40	8	57	91
Loss from early extinguishments of debt		34	9	34
Net interest expense	64	62	194	183
Foreign exchange	9	(2)	14	4
Income before income taxes	208	225	509	481
Provision for / (benefits from) income taxes	48	(41)	134	42
Equity earnings/(loss) in affiliates	0	0	0	0
Net income	160	266	375	439
Net income attributable to noncontrolling interests	(19)	(22)	(48)	(65)
Net income attributable to Crown Holdings	141	244	327	374
Comprehensive income	25	142	46	360
Comprehensive income attributable to noncontrolling interests	(16)	(21)	(43)	(67)
Comprehensive income attributable to Crown Holdings	$ 9	121	3	293
Crown Cork & Seal Company Inc [Member] | Parent [Member]
Selling and administrative expense
Restructuring and other
Equity earnings/(loss) in affiliates	$ 141	244	327	374
Net income	141	244	327	374
Net income attributable to Crown Holdings	141	244	327	374
Comprehensive income	9	121	3	293
Comprehensive income attributable to Crown Holdings	$ 9	$ 121	$ 3	$ 293
Crown Cork & Seal Company Inc [Member] | Issuer [Member]
Cost of products sold, excluding depreciation and amortization
Gross profit
Selling and administrative expense	$ 3	$ 2	$ 8	$ 7
Restructuring and other				14
Loss from early extinguishments of debt
Net interest expense	$ 25	$ 23	$ 76	70
Income before income taxes	(28)	(25)	(84)	(91)
Provision for / (benefits from) income taxes	(15)	(7)	(24)	(16)
Equity earnings/(loss) in affiliates	110	245	298	436
Net income	97	227	238	361
Net income attributable to Crown Holdings	97	227	238	361
Comprehensive income	35	104	73	280
Comprehensive income attributable to Crown Holdings	35	104	73	280
Crown Cork & Seal Company Inc [Member] | Non-Guarantors [Member]
Net sales	2,460	2,594	6,735	6,970
Cost of products sold, excluding depreciation and amortization	1,984	2,119	5,487	5,740
Depreciation and amortization	61	53	174	135
Gross profit	415	422	1,074	1,095
Selling and administrative expense	91	93	283	295
Restructuring and other	40	8	57	77
Loss from early extinguishments of debt		34	9	34
Net interest expense	39	39	118	113
Foreign exchange	9	(2)	14	4
Income before income taxes	236	250	593	572
Provision for / (benefits from) income taxes	$ 63	$ (34)	158	58
Equity earnings/(loss) in affiliates
Net income	$ 173	$ 284	435	514
Net income attributable to noncontrolling interests	(19)	(22)	(48)	(65)
Net income attributable to Crown Holdings	154	262	387	449
Comprehensive income	38	160	106	435
Comprehensive income attributable to noncontrolling interests	(16)	(21)	(43)	(67)
Comprehensive income attributable to Crown Holdings	$ 22	139	63	368
Crown Cork & Seal Company Inc [Member] | Eliminations [Member]
Income before income taxes
Equity earnings/(loss) in affiliates	$ (251)	(489)	(625)	(810)
Net income	(251)	(489)	(625)	(810)
Net income attributable to Crown Holdings	(251)	(489)	(625)	(810)
Comprehensive income	(57)	(243)	(136)	(648)
Comprehensive income attributable to Crown Holdings	(57)	(243)	(136)	(648)
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member]
Net sales	2,460	2,594	6,735	6,970
Cost of products sold, excluding depreciation and amortization	1,984	2,119	5,487	5,740
Depreciation and amortization	61	53	174	135
Gross profit	415	422	1,074	1,095
Selling and administrative expense	94	95	291	302
Restructuring and other	40	8	57	91
Loss from early extinguishments of debt		34	9	34
Net interest expense	64	62	194	183
Technology royalty			0	0
Foreign exchange	9	(2)	14	4
Income before income taxes	208	225	509	481
Provision for / (benefits from) income taxes	48	(41)	134	42
Equity earnings/(loss) in affiliates	0	0	0	0
Net income	160	266	375	439
Net income attributable to noncontrolling interests	(19)	(22)	(48)	(65)
Net income attributable to Crown Holdings	141	244	327	374
Comprehensive income	25	142	46	360
Comprehensive income attributable to noncontrolling interests	(16)	(21)	(43)	(67)
Comprehensive income attributable to Crown Holdings	9	$ 121	3	293
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Parent [Member]
Provision for / (benefits from) income taxes
Equity earnings/(loss) in affiliates	141	$ 244	327	374
Net income	141	244	327	374
Net income attributable to Crown Holdings	141	244	327	374
Comprehensive income	9	$ 121	3	293
Comprehensive income attributable to noncontrolling interests
Comprehensive income attributable to Crown Holdings	$ 9	$ 121	3	$ 293
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Issuer [Member]
Cost of products sold, excluding depreciation and amortization
Gross profit
Selling and administrative expense	$ 2	$ 3	$ 7	$ 7
Restructuring and other				$ 1
Loss from early extinguishments of debt			$ 9
Net interest expense	$ 23	$ 16	67	$ 43
Technology royalty
Foreign exchange	3		11
Income before income taxes	(28)	$ (19)	(94)	(51)
Provision for / (benefits from) income taxes	(11)	(7)	(36)	(19)
Equity earnings/(loss) in affiliates	70	71	158	170
Net income	53	59	100	138
Net income attributable to Crown Holdings	53	59	100	138
Comprehensive income	48	$ 62	101	151
Comprehensive income attributable to noncontrolling interests
Comprehensive income attributable to Crown Holdings	48	$ 62	101	151
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Guarantors [Member]
Net sales	527	571	1,555	1,642
Cost of products sold, excluding depreciation and amortization	415	445	1,235	1,305
Depreciation and amortization	8	8	24	23
Gross profit	104	118	296	314
Selling and administrative expense	37	32	115	105
Restructuring and other	3	$ 1	5	44
Loss from early extinguishments of debt
Net interest expense	23	$ 23	69	66
Technology royalty	(13)	$ (16)	(32)	(40)
Foreign exchange
Income before income taxes	54	$ 78	139	139
Provision for / (benefits from) income taxes	15	33	61	74
Equity earnings/(loss) in affiliates	58	182	160	296
Net income	97	$ 227	238	361
Net income attributable to noncontrolling interests
Net income attributable to Crown Holdings	97	$ 227	238	361
Comprehensive income	35	$ 104	73	280
Comprehensive income attributable to noncontrolling interests
Comprehensive income attributable to Crown Holdings	35	$ 104	73	280
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Non-Guarantors [Member]
Net sales	1,933	2,023	5,180	5,328
Cost of products sold, excluding depreciation and amortization	1,569	1,674	4,252	4,435
Depreciation and amortization	53	45	150	112
Gross profit	311	304	778	781
Selling and administrative expense	55	60	169	190
Restructuring and other	37	7	$ 52	46
Loss from early extinguishments of debt		34		34
Net interest expense	18	23	$ 58	74
Technology royalty	13	16	32	40
Foreign exchange	9	(2)	14	4
Income before income taxes	179	166	453	393
Provision for / (benefits from) income taxes	$ 43	$ (67)	105	(13)
Equity earnings/(loss) in affiliates
Net income	$ 136	$ 233	348	406
Net income attributable to noncontrolling interests	(19)	(22)	(48)	(65)
Net income attributable to Crown Holdings	117	211	300	341
Comprehensive income	(25)	106	(5)	314
Comprehensive income attributable to noncontrolling interests	(16)	(21)	(43)	(67)
Comprehensive income attributable to Crown Holdings	(41)	$ 85	(48)	247
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Eliminations [Member]
Technology royalty
Foreign exchange	(3)		(11)
Income before income taxes	3		11
Provision for / (benefits from) income taxes	1		4
Equity earnings/(loss) in affiliates	(269)	$ (497)	(645)	(840)
Net income	(267)	(497)	(638)	(840)
Net income attributable to Crown Holdings	(267)	(497)	(638)	(840)
Comprehensive income	(42)	$ (251)	(126)	(678)
Comprehensive income attributable to noncontrolling interests
Comprehensive income attributable to Crown Holdings	$ (42)	$ (251)	$ (126)	$ (678)

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Statement of Information Furnished

9 Months Ended

Sep. 30, 2015

Quarterly Financial Data [Abstract]

Statement of Information Furnished

Statement of Information Furnished

The consolidated financial statements include the accounts of Crown Holdings, Inc. and its consolidated subsidiaries (the “Company”). The accompanying unaudited interim consolidated financial statements have been prepared in accordance with Form 10-Q instructions. In the opinion of management, these consolidated financial statements contain all adjustments of a normal and recurring nature necessary for a fair statement of the financial position of the Company as of September 30, 2015 and the results of its operations for the three and nine months ended September 30, 2015 and 2014 and of its cash flows for the nine months ended September 30, 2015 and 2014. The results reported in these consolidated financial statements are not necessarily indicative of the results that may be expected for the entire year. These results have been determined on the basis of accounting principles generally accepted in the United States of America (“GAAP”).

Certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP have been condensed or omitted. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014.

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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 160	$ 266	$ 375	$ 439
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(153)	(154)	(360)	(162)
Pension and other postretirement benefits	25	19	48	51
Derivatives qualifying as hedges	(7)	11	(17)	32
Total other comprehensive loss	(135)	(124)	(329)	(79)
Total comprehensive income (loss)	25	142	46	360
Net income attributable to noncontrolling interests	(19)	(22)	(48)	(65)
Translation adjustments attributable to noncontrolling interests	2	2	3	1
Derivatives qualifying as hedges attributable to noncontrolling interests	1	(1)	2	(3)
Comprehensive income attributable to Crown Holdings	$ 9	$ 121	$ 3	$ 293

XML

Asbestos-Related Liabilities

9 Months Ended

Sep. 30, 2015

Liability for Asbestos and Environmental Claims [Abstract]

Asbestos-Related Liabilities

Asbestos-Related Liabilities

Crown Cork & Seal Company, Inc. (“Crown Cork”) is one of many defendants in a substantial number of lawsuits filed throughout the United States by persons alleging bodily injury as a result of exposure to asbestos. These claims arose from the insulation operations of a U.S. company, the majority of whose stock Crown Cork purchased in 1963. Approximately ninety days after the stock purchase, this U.S. company sold its insulation assets and was later merged into Crown Cork.

Prior to 1998, amounts paid to asbestos claimants were covered by a fund made available to Crown Cork under a 1985 settlement with carriers insuring Crown Cork through 1976, when Crown Cork became self-insured. The fund was depleted in 1998 and the Company has no remaining coverage for asbestos-related costs.

In recent years, the states of Alabama, Arizona, Arkansas, Florida, Georgia, Idaho, Indiana, Kansas, Michigan, Mississippi, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Utah, Wisconsin and Wyoming enacted legislation that limits asbestos-related liabilities under state law of companies such as Crown Cork that allegedly incurred these liabilities because they are successors by corporate merger to companies that had been involved with asbestos. The legislation, which applies to future and, with the exception of Arkansas, Georgia, South Carolina, South Dakota and Wyoming, pending claims, caps asbestos-related liabilities at the fair market value of the predecessor's total gross assets adjusted for inflation. Crown Cork has paid significantly more for asbestos-related claims than the total value of its predecessor's assets adjusted for inflation. Crown Cork has integrated the legislation into its claims defense strategy. The Company cautions, however, that the legislation may be challenged and there can be no assurance regarding the ultimate effect of the legislation on Crown Cork.

In June 2003, the state of Texas enacted legislation that limits the asbestos-related liabilities in Texas courts of companies such as Crown Cork that allegedly incurred these liabilities because they are successors by corporate merger to companies that had been involved with asbestos. The Texas legislation, which applies to future claims and pending claims, caps asbestos-related liabilities at the total gross value of the predecessor’s assets adjusted for inflation. Crown Cork has paid significantly more for asbestos-related claims than the total adjusted value of its predecessor’s assets.

On October 22, 2010, the Texas Supreme Court, in a 6-2 decision, reversed a lower court decision, Barbara Robinson v. Crown Cork & Seal Company, Inc., No. 14-04-00658-CV, Fourteenth Court of Appeals, Texas, which had upheld the dismissal of an asbestos-related case against Crown Cork. The Texas Supreme Court held that the Texas legislation was unconstitutional under the Texas Constitution when applied to asbestos-related claims pending against Crown Cork when the legislation was enacted in June 2003. The Company believes that the decision of the Texas Supreme Court is limited to retroactive application of the Texas legislation to asbestos-related cases that were pending against Crown Cork in Texas on June 11, 2003 and therefore, in its accrual, continues to assign no value to claims filed after June 11, 2003.

In December 2001, the Commonwealth of Pennsylvania enacted legislation that limits the asbestos-related liabilities of Pennsylvania corporations that are successors by corporate merger to companies involved with asbestos. The legislation limits the successor’s liability for asbestos to the acquired company’s asset value adjusted for inflation. Crown Cork has

paid significantly more for asbestos-related claims than the acquired company’s adjusted asset value. In November 2004, the legislation was amended to address a Pennsylvania Supreme Court decision (Ieropoli v. AC&S Corporation, et. al., No. 117 EM 2002) which held that the statute violated the Pennsylvania Constitution due to retroactive application. The Company cautions that the limitations of the statute, as amended, are subject to litigation and may not be upheld.

The Company further cautions that an adverse ruling in any litigation relating to the constitutionality or applicability to Crown Cork of one or more statutes that limits the asbestos-related liability of alleged defendants like Crown Cork could have a material impact on the Company.

During the nine months ended September 30, 2015, the Company paid $12 to settle outstanding claims and had claims activity as follows:

Beginning claims	54,000
New claims	2,000
Settlements or dismissals	(2,000	)
Ending claims	54,000

In the fourth quarter of each year, the Company performs an analysis of outstanding claims and categorizes these claims by year of exposure and state filed. As of December 31, 2014, the Company's outstanding claims were:

Claimants alleging first exposure after 1964	16,000
Claimants alleging first exposure before or during 1964 filed in:
Texas	13,000
Pennsylvania	2,000
Other states that have enacted asbestos legislation	6,000
Other states	17,000
Total claims outstanding	54,000

The outstanding claims in each period exclude approximately 19,000 inactive claims. Due to the passage of time, the Company considers it unlikely that the plaintiffs in these cases will pursue further action against the Company. The exclusion of these inactive claims had no effect on the calculation of the Company’s accrual as the claims were filed in states, as described above, where the Company’s liability is limited by statute.

With respect to claimants alleging first exposure to asbestos before or during 1964, the Company does not include in its accrual any amounts for settlements in states where the Company’s liability is limited by statute except for certain pending claims in Texas as described earlier.

With respect to post-1964 claims, regardless of the existence of asbestos legislation, the Company does not include in its accrual any amounts for settlement of these claims because of increased difficulty of establishing identification of relevant insulation products as the cause of injury. Given the Company's settlement experience with post-1964 claims, it does not believe that an adverse ruling in the Texas or Pennsylvania asbestos litigation cases, or in any other state that has enacted asbestos legislation, would have a material impact on the Company with respect to such claims.

As of December 31, the percentage of outstanding claims related to claimants alleging serious diseases (primarily mesothelioma and other malignancies) were as follows:

	2014		2013		2012
Total claims	22	%	21	%	19	%
Pre-1964 claims in states without asbestos legislation	41	%	39	%	36	%

Crown Cork has entered into arrangements with plaintiffs’ counsel in certain jurisdictions with respect to claims which are not yet filed, or asserted, against it. However, Crown Cork expects claims under these arrangements to be filed or asserted against Crown Cork in the future. The projected value of these claims is included in the Company’s estimated liability as of September 30, 2015.

As of September 30, 2015, the Company’s accrual for pending and future asbestos-related claims and related legal costs was $257, including $202 for unasserted claims. The Company’s accrual includes estimated probable costs for claims through the year 2024. The Company’s accrual excludes potential costs for claims beyond 2024 because the Company believes that the key assumptions underlying its accrual are subject to greater uncertainty as the projection period lengthens.

It is reasonably possible that the actual loss could be in excess of the Company’s accrual. The Company is unable to estimate the reasonably possible loss in excess of its accrual due to uncertainty in the following assumptions that underlie the Company’s accrual and the possibility of losses in excess of such accrual: the amount of damages sought by the claimant (which was not specified for approximately 88% of the claims outstanding at the end of 2014), the Company and claimant’s willingness to negotiate a settlement, the terms of settlements of other defendants with asbestos-related liabilities, the bankruptcy filings of other defendants (which may result in additional claims and higher settlements for

non-bankrupt defendants), the nature of pending and future claims (including the seriousness of alleged disease, whether claimants allege first exposure to asbestos before or during 1964 and the claimant’s ability to demonstrate the alleged link to Crown Cork), the volatility of the litigation environment, the defense strategies available to the Company, the level of future claims, the rate of receipt of claims, the jurisdiction in which claims are filed, and the effect of state asbestos legislation (including the validity and applicability of the Pennsylvania legislation to non-Pennsylvania jurisdictions, where the substantial majority of the Company’s asbestos cases are filed).

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Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 22, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Entity Registrant Name	CROWN HOLDINGS INC
Entity Central Index Key	0001219601
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		139,411,768

XML

Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Commitments and Contingent Liabilities

The Company, along with others in most cases, has been identified by the EPA or a comparable state environmental agency as a Potentially Responsible Party (“PRP”) at a number of sites and has recorded aggregate accruals of $7 for its share of estimated future remediation costs at these sites. The Company has been identified as having either directly or indirectly disposed of commercial or industrial waste at the sites subject to the accrual, and where appropriate and supported by available information, generally has agreed to be responsible for a percentage of future remediation costs based on an estimated volume of materials disposed in proportion to the total materials disposed at each site. The Company has not had monetary sanctions imposed nor has the Company been notified of any potential monetary sanctions at any of the sites.

The Company has also recorded aggregate accruals of $6 for remediation activities at various worldwide locations that are owned by the Company and for which the Company is not a member of a PRP group. Although the Company believes

its accruals are adequate to cover its portion of future remediation costs, there can be no assurance that the ultimate payments will not exceed the amount of the Company’s accruals and will not have a material effect on its results of operations, financial position and cash flow. Any possible loss or range of potential loss that may be incurred in excess of the recorded accruals cannot be estimated.

In March 2015, the Bundeskartellamt, or German Federal Cartel Office (“FCO”), conducted unannounced inspections of the premises of several metal packaging manufacturers, including a German subsidiary of the Company. The local court order authorizing the inspection cited FCO suspicions of anti-competitive agreements in the market for the supply of metal packaging products. The FCO’s investigation is ongoing. To date, the FCO has not officially charged the Company or any of its subsidiaries with any violations of competition law. The Company has commenced an internal investigation into the matter and has discovered instances of inappropriate conduct by certain employees of German subsidiaries of the Company. The Company is cooperating with the FCO and submitted a leniency application which disclosed the findings of its internal investigation to date and which may lead to the reduction of penalties that the FCO may impose. If the FCO finds that the Company or any of its subsidiaries violated competition law, the FCO has wide discretion to levy fines. At this stage of the investigation the Company believes that a loss is probable. The Company is unable to predict the ultimate outcome of the FCO’s investigation and any additional losses that could be incurred, which could be material to the Company’s operating results and cash flows for the periods in which they are resolved or become reasonably estimable.

The Company and its subsidiaries are also subject to various other lawsuits and claims with respect to governmental, labor, environmental, securities, vendor and other matters arising out of the Company’s normal course of business. While the impact on future financial results is not subject to reasonable estimation because considerable uncertainty exists, management believes that the ultimate liabilities resulting from such lawsuits and claims will not materially affect the Company’s consolidated earnings, financial position or cash flow.

The Company has various commitments to purchase materials, supplies and utilities as part of the ordinary course of business. The Company’s basic raw materials for its products are steel and aluminum, both of which are purchased from multiple sources. The Company is subject to fluctuations in the cost of these raw materials and has periodically adjusted its selling prices to reflect these movements. There can be no assurance, however, that the Company will be able to fully recover any increases or fluctuations in raw material costs from its customers. The Company also has commitments for standby letters of credit and for purchases of capital assets.

At September 30, 2015, the Company was party to certain indemnification agreements covering environmental remediation, lease payments and other potential costs associated with properties sold or businesses divested. For agreements with defined liability limits the maximum potential amount of future liability was $9. The Company accrues for costs related to these items when it is probable that a liability has been incurred and the amount can be reasonably estimated. At September 30, 2015, the Company also had guarantees of $27 related to the residual values of leased assets.

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Consolidated Balance Sheets (Condensed) (Unaudited) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets
Cash and cash equivalents	$ 466	$ 965	$ 380	$ 689
Receivables, net	1,183	1,031
Inventories	1,302	1,324
Prepaid expenses and other current assets	311	256
Assets held for sale	0	48
Total current assets	3,262	3,624
Goodwill and intangible assets, net	3,664	2,926
Property, plant and equipment, net	2,614	2,437
Other non-current assets	689	721
Total	10,229	9,708
Current liabilities
Short-term debt	61	75
Current maturities of long-term debt	142	177
Accounts payable and accrued liabilities	2,527	2,651
Liabilities related to assets held for sale	0	23
Total current liabilities	2,730	2,926
Long-term debt, excluding current maturities	5,608	5,007
Postretirement and pension liabilities	786	871
Other non-current liabilities	$ 672	$ 517
Commitments and contingent liabilities (Note L)
Noncontrolling interests	$ 293	$ 268
Crown Holdings shareholders’ equity	140	119
Total equity	433	387	$ 548	$ 289
Total	$ 10,229	$ 9,708

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Receivables

9 Months Ended

Sep. 30, 2015

Receivables [Abstract]

Receivables

Receivables

	September 30, 2015			December 31, 2014
Accounts receivable	$	1,064		$	940
Less: allowance for doubtful accounts	(84		)	(88		)
Net trade receivables	980			852
Miscellaneous receivables	203			179
Receivables, net	$	1,183		$	1,031

The Company uses receivable securitization facilities in the normal course of business as part of managing its cash flows. In connection with the Company's North American receivable securitization facility, the Company recognized a deferred purchase price of $109 which was included in prepaid expenses and other current assets in the Company’s Consolidated Balance Sheet at September 30, 2015. The net change in deferred purchase price receivable was reflected in the receivables line item in the Company's Consolidated Statement of Cash Flows.

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Stock-Based Compensation

9 Months Ended

Sep. 30, 2015

Share-based Compensation [Abstract]

Stock-Based Compensation

Stock-Based Compensation

A summary of restricted stock transactions during the nine months ended September 30, 2015 follows:

	Number of shares
Non-vested stock awards outstanding at January 1, 2015	1,960,357
Awarded:
Time-vesting shares	268,680
Performance-based shares	201,092
Released:
Time-vesting shares	(373,741	)
Performance-based shares	(155,180	)
Forfeitures:
Time-vesting shares	(54,800	)
Performance-based shares	(61,008	)
Non-vested stock awards outstanding at September 30, 2015	1,785,400

In January 2015, the Company awarded shares of restricted stock to certain senior executives consisting of 93,480 time-vesting shares which vest ratably over three years and 201,092 performance-based shares which cliff vest at the end of three years. The number of performance-based shares that will ultimately vest is based on the level of market performance achieved, ranging between 0% and 200% of the shares originally awarded, and will be settled in stock. The market performance criteria is the Company's Total Shareholder Return ("TSR"), which includes share price appreciation and dividends paid, during the three-year term of the award measured against the TSR of a peer group of companies.

In June 2015, the Company granted a general award of 175,200 shares of time-vesting restricted and deferred stock. The shares vest ratably over four years commencing in 2017.

The weighted average grant-date fair value of the 2015 time-vesting stock awards was $53.56 and the performance-based stock awards was $49.50.

The fair value of the performance-based shares awarded in 2015 was calculated using a Monte Carlo valuation model, including a weighted average stock price volatility of 17.4%, an expected term of three years, and a weighted average risk-free interest rate of 1.06%.

At September 30, 2015, unrecognized compensation cost related to outstanding non-vested stock awards was $44. The weighted average period over which the expense is expected to be recognized is 2.5 years. The aggregate market value of the shares released and issued on the vesting dates was $28.

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Condensed Combining Financial Information

9 Months Ended

Sep. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Combining Financial Information

Condensed Combining Financial Information

Crown Cork & Seal Company, Inc. (Issuer), a 100% owned subsidiary, has $350 principal amount of 7.375% senior notes due 2026 and $64 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:

•statements of comprehensive income for the three and nine months ended September 30, 2015 and 2014,

•balance sheets as of September 30, 2015 and December 31, 2014, and

•statements of cash flows for the nine months ended September 30, 2015 and 2014

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2015

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,460					$	2,460
Cost of products sold, excluding depreciation and amortization						1,984						1,984
Depreciation and amortization						61						61
Gross profit						415						415
Selling and administrative expense			$	3		91						94
Restructuring and other						40						40
Net interest expense			25			39						64
Foreign exchange						9						9
Income/(loss) before income taxes			(28		)	236						208
Provision for / (benefit from) income taxes			(15		)	63						48
Equity earnings / (loss) in affiliates	$	141	110						$	(251	)	—
Net income	141		97			173			(251		)	160
Net income attributable to noncontrolling interests						(19		)				(19		)
Net income attributable to Crown Holdings	$	141	$	97		$	154		$	(251	)	$	141
Comprehensive income	$	9	$	35		$	38		$	(57	)	$	25
Comprehensive income attributable to noncontrolling interests						(16		)				(16		)
Comprehensive income attributable to Crown Holdings	$	9	$	35		$	22		$	(57	)	$	9

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2014

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	2,594					$	2,594
Cost of products sold, excluding depreciation and amortization						2,119						2,119
Depreciation and amortization						53						53
Gross profit						422						422
Selling and administrative expense			$	2		93						95
Restructuring and other						8						8
Loss from early extinguishment of debt						34						34
Net interest expense			23			39						62
Foreign exchange						(2		)				(2		)
Income/(loss) before income taxes			(25		)	250						225
Provision for / (benefit from) income taxes			(7		)	(34		)				(41		)
Equity earnings / (loss) in affiliates	$	244	245						$	(489	)	—
Net income	244		227			284			(489		)	266
Net income attributable to noncontrolling interests						(22		)				(22		)
Net income attributable to Crown Holdings	$	244	$	227		$	262		$	(489	)	$	244
Comprehensive income	$	121	$	104		$	160		$	(243	)	$	142
Comprehensive income attributable to noncontrolling interests						(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	121	$	104		$	139		$	(243	)	$	121

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2015

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,735					$	6,735
Cost of products sold, excluding depreciation and amortization						5,487						5,487
Depreciation and amortization						174						174
Gross profit						1,074						1,074
Selling and administrative expense			$	8		283						291
Restructuring and other						57						57
Loss from early extinguishment of debt						9						9
Net interest expense			76			118						194
Foreign exchange						14						14
Income/(loss) before income taxes			(84		)	593						509
Provision for / (benefit from) income taxes			(24		)	158						134
Equity earnings / (loss) in affiliates	$	327	298						$	(625	)	—
Net income	327		238			435			(625		)	375
Net income attributable to noncontrolling interests						(48		)				(48		)
Net income attributable to Crown Holdings	$	327	$	238		$	387		$	(625	)	$	327
Comprehensive income	$	3	$	73		$	106		$	(136	)	$	46
Comprehensive income attributable to noncontrolling interests						(43		)				(43		)
Comprehensive income attributable to Crown Holdings	$	3	$	73		$	63		$	(136	)	$	3

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2014

(in millions)

	Parent		Issuer			Non- Guarantors			Eliminations			Total Company
Net sales						$	6,970					$	6,970
Cost of products sold, excluding depreciation and amortization						5,740						5,740
Depreciation and amortization						135						135
Gross profit						1,095						1,095
Selling and administrative expense			$	7		295						302
Restructuring and other			14			77						91
Loss from early extinguishment of debt						34						34
Net interest expense			70			113						183
Foreign exchange						4						4
Income/(loss) before income taxes			(91		)	572						481
Provision for / (benefit from) income taxes			(16		)	58						42
Equity earnings / (loss) in affiliates	$	374	436						$	(810	)	—
Net income	374		361			514			(810		)	439
Net income attributable to noncontrolling interests						(65		)				(65		)
Net income attributable to Crown Holdings	$	374	$	361		$	449		$	(810	)	$	374
Comprehensive Income	$	293	$	280		$	435		$	(648	)	$	360
Comprehensive income attributable to noncontrolling interests						(67		)				(67		)
Comprehensive income attributable to Crown Holdings	$	293	$	280		$	368		$	(648	)	$	293

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2015

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	466				$	466
Receivables, net					1,183					1,183
Inventories					1,302					1,302
Prepaid expenses and other current assets	$	1	$	67	243					311
Total current assets	1		67		3,194					3,262
Intercompany debt receivables					3,786		$	(3,786	)	—
Investments	3,064		2,474				(5,538		)	—
Goodwill and intangible assets					3,664					3,664
Property, plant and equipment, net					2,614					2,614
Other non-current assets			397		292					689
Total	$	3,065	$	2,938	$	13,550	$	(9,324	)	$	10,229
Liabilities and equity
Current liabilities
Short-term debt					$	61				$	61
Current maturities of long-term debt					142					142
Accounts payable and accrued liabilities	$	19	$	41	2,467					2,527
Total current liabilities	19		41		2,670					2,730
Long-term debt, excluding current maturities			412		5,196					5,608
Long-term intercompany debt	2,906		880				$	(3,786	)	—
Postretirement and pension liabilities					786					786
Other non-current liabilities			297		375					672
Commitments and contingent liabilities
Noncontrolling interests					293					293
Crown Holdings shareholders’ equity/(deficit)	140		1,308		4,230		(5,538		)	140
Total equity/(deficit)	140		1,308		4,523		(5,538		)	433
Total	$	3,065	$	2,938	$	13,550	$	(9,324	)	$	10,229

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2014

(in millions)

	Parent		Issuer		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents					$	965				$	965
Receivables, net					1,031					1,031
Inventories					1,324					1,324
Prepaid expenses and other current assets	$	1	$	69	186					256
Assets held for sale					48					48
Total current assets	1		69		3,554					3,624
Intercompany debt receivables					2,885		$	(2,885	)	—
Investments	2,199		2,350				(4,549		)	—
Goodwill and intangible assets					2,926					2,926
Property, plant and equipment, net					2,437					2,437
Other non-current assets			397		324					721
Total	$	2,200	$	2,816	$	12,126	$	(7,434	)	$	9,708
Liabilities and equity
Current liabilities
Short-term debt					$	75				$	75
Current maturities of long-term debt					177					177
Accounts payable and accrued liabilities	$	20	$	35	2,596					2,651
Liabilities related to assets held for sale					23					23
Total current liabilities	20		35		2,871					2,926
Long-term debt, excluding current maturities			412		4,595					5,007
Long-term intercompany debt	2,061		824				$	(2,885	)	—
Postretirement and pension liabilities					871					871
Other non-current liabilities			310		207					517
Commitments and contingent liabilities
Noncontrolling interests					268					268
Crown Holdings shareholders’ equity/(deficit)	119		1,235		3,314		(4,549		)	119
Total equity/(deficit)	119		1,235		3,582		(4,549		)	387
Total	$	2,200	$	2,816	$	12,126	$	(7,434	)	$	9,708

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2015

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	24		$	(65	)	$	356					$	315
Cash flows from investing activities
Capital expenditures							(176		)				(176		)
Purchase of business							(1,207		)				(1,207		)
Proceeds from sale of property, plant and equipment							3						3
Proceeds from sale of business							33						33
Intercompany investing activities	(865		)	9			865			$	(9	)	—
Net investment hedge settlements							(11		)				(11		)
Other							(16		)				(16		)
Net cash provided by/(used for) investing activities	(865		)	9			(509		)	(9		)	(1,374		)
Cash flows from financing activities
Proceeds from long-term debt							1,435						1,435
Payments of long-term debt							(780		)				(780		)
Net change in revolving credit facility and short-term debt							34						34
Net change in long-term intercompany balances	845			56			(901		)				—
Debt issue costs							(18		)				(18		)
Common stock issued	5												5
Common stock repurchased	(9		)										(9		)
Dividends paid							(9		)	9			—
Contributions from noncontrolling interests							3						3
Dividend paid to noncontrolling interests							(21		)				(21		)
Foreign exchange derivatives related to debt							(38		)				(38		)
Net cash provided by/(used for) financing activities	841			56			(295		)	9			611
Effect of exchange rate changes on cash and cash equivalents							(51		)				(51		)
Net change in cash and cash equivalents	—			—			(499		)	—			(499		)
Cash and cash equivalents at January 1							965						965
Cash and cash equivalents at September 30	$	—		$	—		$	466		$	—		$	466

ONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2014

(in millions)

	Parent			Issuer			Non- Guarantors			Eliminations			Total Company
Net cash provided by/(used for) operating activities	$	14		$	(72	)	$	67					$	9
Cash flows from investing activities
Capital expenditures							(212		)				(212		)
Purchase of business							(733		)				(733		)
Proceeds from sale of property, plant and equipment							9						9
Proceeds from sale of business							22						22
Intercompany investing activities	(941		)	51			941			$	(51	)	—
Other							2						2
Net cash provided by/(used for) investing activities	(941		)	51			29			(51		)	(912		)
Cash flows from financing activities
Proceeds from long-term debt							2,742						2,742
Payments of long-term debt							(1,720		)				(1,720		)
Net change in revolving credit facility and short-term debt							(232		)				(232		)
Net change in long-term intercompany balances	918			21			(939		)				—
Debt issue costs							(41		)				(41		)
Common stock issued	11												11
Common stock repurchased	(2		)										(2		)
Dividends paid							(51		)	51			—
Purchase of noncontrolling interests							(93		)				(93		)
Dividend paid to noncontrolling interests							(45		)				(45		)
Foreign exchange derivatives related to debt							(14		)				(14		)
Net cash provided by/(used for) financing activities	927			21			(393		)	51			606
Effect of exchange rate changes on cash and cash equivalents							(12		)				(12		)
Net change in cash and cash equivalents	—			—			(309		)	—			(309		)
Cash and cash equivalents at January 1							689						689
Cash and cash equivalents at September 30	$	—		$	—		$	380		$	—		$	380

Crown Americas, LLC, Crown Americas Capital Corp. II and Crown Americas Capital Corp. III (collectively, the Issuers), 100% owned subsidiaries of the Company, have outstanding $700 principal amount of 6.25% senior notes due 2021 and $1,000 principal amount of 4.5% senior notes due 2023, 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:

• statements of comprehensive income for the three and nine months ended September 30, 2015 and 2014,

• balance sheets as of September 30, 2015 and December 31, 2014, and

• statements of cash flows for the nine months ended September 30, 2015 and 2014

are presented on the following pages to comply with the Company’s requirements under Rule 3-10 of Regulation S-X.

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2015

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	527		$	1,933					$	2,460
Cost of products sold, excluding depreciation and amortization						415			1,569						1,984
Depreciation and amortization						8			53						61
Gross profit						104			311						415
Selling and administrative expense			$	2		37			55						94
Restructuring and other						3			37						40
Net interest expense			23			23			18						64
Technology royalty						(13		)	13						—
Foreign exchange			3						9			$	(3	)	9
Income/(loss) before income taxes			(28		)	54			179			3			208
Provision for / (benefit from) income taxes			(11		)	15			43			1			48
Equity earnings / (loss) in affiliates	$	141	70			58						(269		)	—
Net income	141		53			97			136			(267		)	160
Net income attributable to noncontrolling interests									(19		)				(19		)
Net income attributable to Crown Holdings	$	141	$	53		$	97		$	117		$	(267	)	$	141
Comprehensive income	$	9	$	48		$	35		$	(25	)	$	(42	)	$	25
Comprehensive income attributable to noncontrolling interests									(16		)				(16		)
Comprehensive income attributable to Crown Holdings	$	9	$	48		$	35		$	(41	)	$	(42	)	$	9

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the three months ended September 30, 2014

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	571		$	2,023					$	2,594
Cost of products sold, excluding depreciation and amortization						445			1,674						2,119
Depreciation and amortization						8			45						53
Gross profit						118			304						422
Selling and administrative expense			$	3		32			60						95
Restructuring and other						1			7						8
Loss from early extinguishment of debt									34						34
Net interest expense			16			23			23						62
Technology royalty						(16		)	16						—
Foreign exchange									(2		)				(2		)
Income/(loss) before income taxes			(19		)	78			166						225
Provision for / (benefit from) income taxes			(7		)	33			(67		)				(41		)
Equity earnings / (loss) in affiliates	$	244	71			182						$	(497	)	—
Net income	244		59			227			233			(497		)	266
Net income attributable to noncontrolling interests									(22		)				(22		)
Net income attributable to Crown Holdings	$	244	$	59		$	227		$	211		$	(497	)	$	244
Comprehensive income	$	121	$	62		$	104		$	106		$	(251	)	$	142
Comprehensive income attributable to noncontrolling interests									(21		)				(21		)
Comprehensive income attributable to Crown Holdings	$	121	$	62		$	104		$	85		$	(251	)	$	121

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2015

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,555		$	5,180					$	6,735
Cost of products sold, excluding depreciation and amortization						1,235			4,252						5,487
Depreciation and amortization						24			150						174
Gross profit						296			778						1,074
Selling and administrative expense			$	7		115			169						291
Restructuring and other						5			52						57
Loss from early extinguishment of debt			9												9
Net interest expense			67			69			58						194
Technology royalty						(32		)	32						—
Foreign exchange			11						14			$	(11	)	14
Income/(loss) before income taxes			(94		)	139			453			11			509
Provision for / (benefit from) income taxes			(36		)	61			105			4			134
Equity earnings / (loss) in affiliates	$	327	158			160						(645		)	—
Net income	327		100			238			348			(638		)	375
Net income attributable to noncontrolling interests									(48		)				(48		)
Net income attributable to Crown Holdings	$	327	$	100		$	238		$	300		$	(638	)	$	327
Comprehensive Income	$	3	$	101		$	73		$	(5	)	$	(126	)	$	46
Comprehensive income attributable to noncontrolling interests									(43		)				(43		)
Comprehensive income attributable to Crown Holdings	$	3	$	101		$	73		$	(48	)	$	(126	)	$	3

CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2014

(in millions)

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net sales						$	1,642		$	5,328					$	6,970
Cost of products sold, excluding depreciation and amortization						1,305			4,435						5,740
Depreciation and amortization						23			112						135
Gross profit						314			781						1,095
Selling and administrative expense			$	7		105			190						302
Restructuring and other			1			44			46						91
Loss from early extinguishment of debt									34						34
Net interest expense			43			66			74						183
Technology royalty						(40		)	40						—
Foreign exchange									4						4
Income/(loss) before income taxes			(51		)	139			393						481
Provision for / (benefit from) income taxes			(19		)	74			(13		)				42
Equity earnings / (loss) in affiliates	$	374	170			296						$	(840	)	—
Net income	374		138			361			406			(840		)	439
Net income attributable to noncontrolling interests									(65		)				(65		)
Net income attributable to Crown Holdings	$	374	$	138		$	361		$	341		$	(840	)	$	374
Comprehensive income	$	293	$	151		$	280		$	314		$	(678	)	$	360
Comprehensive income attributable to noncontrolling interests									(67		)				(67		)
Comprehensive income attirbutable to Crown Holdings	$	293	$	151		$	280		$	247		$	(678	)	$	293

CONDENSED COMBINING BALANCE SHEET

As of September 30, 2015

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	32			$	434				$	466
Receivables, net					$	7	1,176					1,183
Intercompany receivables					41		9		$	(50	)	—
Inventories					281		1,021					1,302
Prepaid expenses and other current assets	$	1	1		76		233					311
Total current assets	1		33		405		2,873		(50		)	3,262
Intercompany debt receivables			3,201		3,665		693		(7,559		)	—
Investments	3,064		2,158		805				(6,027		)	—
Goodwill and intangible assets					472		3,192					3,664
Property, plant and equipment, net			1		330		2,283					2,614
Other non-current assets			45		394		250					689
Total	$	3,065	$	5,438	$	6,071	$	9,291	$	(13,636	)	$	10,229
Liabilities and equity
Current liabilities
Short-term debt							$	61				$	61
Current maturities of long-term debt			$	48			94					142
Accounts payable and accrued liabilities	$	19	24		$	485	1,999					2,527
Intercompany payables					9		41		$	(50	)	—
Total current liabilities	19		72		494		2,195		(50		)	2,730
Long-term debt, excluding current maturities			2,886		412		2,310					5,608
Long-term intercompany debt	2,906		1,266		3,178		209		(7,559		)	—
Postretirement and pension liabilities					384		402					786
Other non-current liabilities					295		377					672
Commitments and contingent liabilities
Noncontrolling interests							293					293
Crown Holdings shareholders’ equity/(deficit)	140		1,214		1,308		3,505		(6,027		)	140
Total equity/(deficit)	140		1,214		1,308		3,798		(6,027		)	433
Total	$	3,065	$	5,438	$	6,071	$	9,291	$	(13,636	)	$	10,229

CONDENSED COMBINING BALANCE SHEET

As of December 31, 2014

(in millions)

	Parent		Issuer		Guarantors		Non- Guarantors		Eliminations			Total Company
Assets
Current assets
Cash and cash equivalents			$	128			$	837				$	965
Receivables, net					$	18	1,013					1,031
Intercompany receivables					20		11		$	(31	)	—
Inventories					291		1,033					1,324
Prepaid expenses and other current assets	$	1	4		75		176					256
Assets held for sale							48					48
Total current assets	1		132		404		3,118		(31		)	3,624
Intercompany debt receivables			2,415		2,640		27		(5,082		)	—
Investments	2,199		2,005		850				(5,054		)	—
Goodwill and intangible assets					473		2,453					2,926
Property, plant and equipment, net			1		328		2,108					2,437
Other non-current assets			51		413		257					721
Total	$	2,200	$	4,604	$	5,108	$	7,963	$	(10,167	)	$	9,708
Liabilities and equity
Current liabilities
Short-term debt							$	75				$	75
Current maturities of long-term debt					$	44	133					177
Accounts payable and accrued liabilities	$	20	$	49	480		2,102					2,651
Intercompany payables					11		20		$	(31	)	—
Liabilities related to assets held for sale							23					23
Total current liabilities	20		49		535		2,353		(31		)	2,926
Long-term debt, excluding current maturities			2,858		368		1,781					5,007
Long-term intercompany debt	2,061		584		2,199		238		(5,082		)	—
Postretirement and pension liabilities					464		407					871
Other non-current liabilities					307		210					517
Commitments and contingent liabilities
Noncontrolling interests							268					268
Crown Holdings shareholders’ equity/(deficit)	119		1,113		1,235		2,706		(5,054		)	119
Total equity/(deficit)	119		1,113		1,235		2,974		(5,054		)	387
Total	$	2,200	$	4,604	$	5,108	$	7,963	$	(10,167	)	$	9,708

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2015

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	24		$	(53	)	$	76		$	268					$	315
Cash flows from investing activities
Capital expenditures							(30		)	(146		)				(176		)
Purchase of business										(1,207		)				(1,207		)
Proceeds from sale of property, plant and equipment							1			2						3
Proceeds from sale of business										33						33
Intercompany investing activities	(865		)	7			9			865			$	(16	)	—
Net investment hedge settlements				(11		)										(11		)
Other							(10		)	(6		)				(16		)
Net cash provided by/(used for) investing activities	(865		)	(4		)	(30		)	(459		)	(16		)	(1,374		)
Cash flows from financing activities
Proceeds from long-term debt				750						685						1,435
Payments of long-term debt				(675		)				(105		)				(780		)
Net change in revolving credit facility and short-term debt										34						34
Net change in long-term intercompany balances	845			(104		)	(46		)	(695		)				—
Debt issue costs				(10		)				(8		)				(18		)
Common stock issued	5															5
Common stock repurchased	(9		)													(9		)
Dividends paid										(16		)	16			—
Contributions from noncontrolling interests										3						3
Dividends paid to noncontrolling interests										(21		)				(21		)
Foreign exchange derivatives related to debt										(38		)				(38		)
Net cash provided by/(used for) financing activities	841			(39		)	(46		)	(161		)	16			611
Effect of exchange rate changes on cash and cash equivalents										(51		)				(51		)
Net change in cash and cash equivalents	—			(96		)	—			(403		)	—			(499		)
Cash and cash equivalents at January 1				128						837						965
Cash and cash equivalents at September 30	$	—		$	32		$	—		$	434		$	—		$	466

CONDENSED COMBINING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2014

(in millions)

	Parent			Issuer			Guarantors			Non- Guarantors			Eliminations			Total Company
Net provided by/(used for) operating activities	$	14		$	(48	)	$	65		$	(22	)				$	9
Cash flows from investing activities
Capital expenditures							(27		)	(185		)				(212		)
Purchase of business										(733		)				(733		)
Proceeds from sale of property, plant and equipment							4			5						9
Proceeds from sale of business										22						22
Intercompany investing activities	(941		)	5			51			941			$	(56	)	—
Other										2						2
Net cash provided by/(used for) investing activities	(941		)	5			28			52			(56		)	(912		)
Cash flows from financing activities
Proceeds from long-term debt				942						1,800						2,742
Payments of long-term debt										(1,720		)				(1,720		)
Net change in revolving credit facility and short-term debt										(232		)				(232		)
Net change in long-term intercompany balances	918			(1,015		)	(18		)	115						—
Debt issue costs				(24		)				(17		)				(41		)
Common stock issued	11															11
Common stock repurchased	(2		)													(2		)
Dividends paid										(56		)	56			—
Purchase of noncontrolling interests							(76		)	(17		)				(93		)
Dividends paid to noncontrolling interests										(45		)				(45		)
Foreign exchange derivatives related to debt										(14		)				(14		)
Net cash provided by/(used for) financing activities	927			(97		)	(94		)	(186		)	56			606
Effect of exchange rate changes on cash and cash equivalents										(12		)				(12		)
Net change in cash and cash equivalents	—			(140		)	(1		)	(168		)	—			(309		)
Cash and cash equivalents at January 1				177			2			510						689
Cash and cash equivalents at September 30	$	—		$	37		$	1		$	342		$	—		$	380

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Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table summarizes the computations of basic and diluted earnings per share attributable to the Company.

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2015		2014		2015		2014
Net income attributable to Crown Holdings	$	141	$	244	$	327	$	374
Weighted average shares outstanding:
Basic	138.1		137.4		137.9		137.2
Dilutive stock options and restricted stock	1.0		1.3		1.1		1.2
Diluted	139.1		138.7		139.0		138.4
Basic earnings per share	$	1.02	$	1.78	$	2.37	$	2.73
Diluted earnings per share	$	1.01	$	1.76	$	2.35	$	2.70

For the three and nine months ended September 30, 2014, 0.1 million contingently issuable common shares were excluded from the computation of diluted earnings per share because the effect would be anti-dilutive.

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Restructuring and Other

9 Months Ended

Sep. 30, 2015

Restructuring Reserve [Abstract]

Restructuring and Other

Restructuring and Other

The Company recorded restructuring and other charges as follows:

	Three Months Ended					Nine Months Ended
	September 30					September 30
	2015		2014			2015		2014
Asset impairments and sales	$	14	$	(2	)	$	15	$	40
Restructuring	20		6			21		19
Transaction costs	—		—			15		14
Other costs	6		4			6		18
	40		8			$	57	91

Asset impairment and sales and restructuring in 2015 related primarily to projects in the Company's North America and European Food segments. Asset impairment and sales in 2014 related to the divestment of certain operations in connection with the acquisition of Mivisa. Restructuring costs in 2014 primarily related to severance costs in the Company's European Food segment. Transaction costs related to the acquisitions of Empaque in 2015 and Mivisa in 2014. Other costs in 2014 primarily related to the temporary relocation of production due to a labor dispute in the Company's Americas Beverage segment.

The tables below summarize the outstanding accrual balances associated with the current and prior restructuring actions.

2015 European Division Actions

During the three and nine months ended September 30, 2015, the Company recorded a charge of $13 to write-down the carrying value of fixed assets and $17 for termination benefits related to the announced closure of two facilities in the Company's European Food segment upon completion of consultation processes with employee representatives. The Company also recorded a charge of $5 related to the write-off of certain non-productive inventory which is included in cost of products sold. The closures are expected to reduce cost by eliminating excess capacity and consolidating manufacturing processes.

The facility closures are expected to result in the reduction of approximately 280 employees when completed in 2016. The Company expects to incur $12 of future charges related to this action.

The table below summarizes the restructuring accrual balances and utilization by cost type for this action.

	Termination benefits		Other exit costs		Total
Balance at January 1, 2015	$	—	$	—	$	—
Provision	17		—		$	17
Balance at September 30, 2015	$	17	$	—	$	17

2013 European Division Actions

Through September 30, 2015, the Company incurred costs of $31 related to an initiative to better align costs with ongoing market conditions in its European operations, primarily in its food can, aerosol can and specialty packaging business. The action resulted in the reduction of approximately 200 employees. The Company expects to pay the remaining liability in 2015 and does not expect to incur any additional charges related to this action.

The table below summarizes the restructuring accrual balances and utilization by cost type for this action.

	Termination benefits			Other exit costs		Total
Balance at January 1, 2015	$	14		$	—	$	14
Payments	(8		)	—		(8		)
Foreign currency translation	(1		)	—		(1		)
Balance at September 30, 2015	$	5		$	—	$	5

Other Actions

At September 30, 2015, the Company also had a restructuring accrual of $16 primarily related to actions taken in 2011 and 2012 to reduce manufacturing capacity and headcount in its European Aerosol and Specialty Packaging businesses. The Company expects to pay the liability through 2024 as certain employees have elected to receive payment as a fixed monthly sum over future years. The Company continues to review its supply and demand profile and long-term plans in Europe and it is possible that the Company may record additional restructuring charges in the future.

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Commitments and Contingent Liabilities (Details) $ in Millions	Sep. 30, 2015 USD ($)
Indemnification Agreement [Member]
Commitments And Contingent Liabilities [Line Items]
Maximum potential amount of future liability	$ 9
Property Lease Guarantee [Member]
Commitments And Contingent Liabilities [Line Items]
Guarantees related to residual values of leased assets	27
PRP site [Member]
Commitments And Contingent Liabilities [Line Items]
Estimated future remediation costs	7
Non- PRP sites [Member]
Commitments And Contingent Liabilities [Line Items]
Estimated future remediation costs	$ 6

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Inventories

9 Months Ended

Sep. 30, 2015

Inventory, Gross [Abstract]

Inventories

Inventories

Inventories are stated at the lower of cost or market, with cost for U.S. inventories principally determined under the first-in, first-out (“FIFO”) method. Non-U.S. inventories are principally determined under the FIFO or average cost method.

	September 30, 2015		December 31, 2014
Raw materials and supplies	$	623	$	684
Work in process	157		134
Finished goods	522		506
	$	1,302	$	1,324

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Derivative and Other Financial Instruments

9 Months Ended

Sep. 30, 2015

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Derivative and Other Financial Instruments

Derivative and Other Financial Instruments

Fair Value Measurements

Under GAAP a framework exists for measuring fair value, providing a three-tier hierarchy of pricing inputs used to report assets and liabilities that are adjusted to fair value. Level 1 includes inputs such as quoted prices which are available

in active markets for identical assets or liabilities as of the report date. Level 2 includes inputs other than those available in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3

includes unobservable pricing inputs that are not corroborated by market data or other objective sources. The Company has no recurring items valued using Level 3 inputs other than certain pension plan assets.

The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets and liabilities measured at fair value and their placement within the fair value hierarchy.

The Company applies a market approach to value its commodity price hedge contracts. Prices from observable markets are used to develop the fair value of these financial instruments and they are reported under Level 1. The Company uses an income approach to value its foreign exchange forward contracts. These contracts are valued using a discounted cash flow model that calculates the present value of future cash flows under the terms of the contracts using market information as of the reporting date, such as foreign exchange spot and forward rates, and are reported under Level 2 of the fair value hierarchy.

Fair value disclosures for financial assets and liabilities that were accounted for at fair value on a recurring basis are provided later in this note. In addition, see Note J for fair value disclosures related to debt.

Derivative Financial Instruments

In the normal course of business the Company is subject to risk from adverse fluctuations in currency exchange rates, interest rates and commodity prices. The Company manages these risks through a program that includes the use of derivative financial instruments, primarily swaps and forwards. Counterparties to these contracts are major financial institutions. The Company is exposed to credit loss in the event of nonperformance by these counterparties. The Company does not use derivative instruments for trading or speculative purposes.

The Company’s objective in managing exposure to market risk is to limit the impact on earnings and cash flow. The extent to which the Company uses such instruments is dependent upon its access to these contracts in the financial markets and its success using other methods, such as netting exposures in the same currencies to mitigate foreign exchange risk and using sales agreements that permit the pass-through of commodity price and foreign exchange rate risk to customers.

For derivative financial instruments accounted for in hedging relationships, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective and the manner in which effectiveness will be assessed. The Company formally assesses, both at inception and at least quarterly thereafter, whether the hedging relationships are effective in offsetting changes in fair value or cash flows of the related underlying exposures. When a hedge no longer qualifies for hedge accounting the change in fair value from the date of the last effectiveness test is recognized in earnings. Any gain or loss which has accumulated in other comprehensive income at the date of the last effectiveness test is reclassified into earnings at the same time of the underlying exposure.

Cash Flow Hedges

The Company designates certain derivative financial instruments as cash flow hedges. No components of the hedging instruments are excluded from the assessment of hedge effectiveness. Changes in fair value of outstanding derivatives accounted for as cash flow hedges, except for ineffectiveness, are recorded in other comprehensive income until earnings are impacted by the hedged transaction. Classification of the gain or loss in the Consolidated Statements of Operations upon reclassification from comprehensive income is the same as that of the underlying exposure. Contracts outstanding at September 30, 2015 mature between one and thirty-seven months.

When the Company discontinues hedge accounting because it is no longer probable that an anticipated transaction will occur in the originally specified period, changes to fair value accumulated in other comprehensive income are recognized immediately in earnings.

The Company uses forward contracts to hedge anticipated purchases of various commodities, including aluminum, fuel oil and natural gas and these exposures are hedged by a central treasury unit.

The Company also designates certain foreign exchange contracts as cash flow hedges of anticipated foreign currency denominated sales or purchases. The Company manages these risks at the operating unit level. Often the hedging of foreign currency risk is performed in concert with related commodity price hedges.

The following table sets forth financial information about the impact on accumulated other comprehensive income (“AOCI”) and earnings from changes in the fair value of derivative instruments.

	Amount of gain/(loss)						Amount of gain/(loss)
	recognized in AOCI						reclassified from AOCI
	(effective portion)						into earnings
	Three Months Ended			Nine Months Ended			Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2015			September 30, 2015			September 30, 2015			September 30, 2015
Foreign exchange	$	1		$	(2	)	$	—		$	(1	)
Commodities	(15		)	(26		)	(9		)	(12		)
Total	$	(14	)	$	(28	)	$	(9	)	$	(13	)

	Amount of gain/(loss)					Amount of gain/(loss)
	recognized in AOCI					reclassified from AOCI
	(effective portion)					into earnings
	Three Months Ended			Nine Months Ended		Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2014			September 30, 2014		September 30, 2014			September 30, 2014
Foreign exchange	$	(2	)	$	—	$	(2	)	$	(3	)
Commodities	9			8		(1		)	(18		)
Total	$	7		$	8	$	(3	)	$	(21	)

For the nine months ended September 30, 2015, the Company recognized a gain of $2 ($1 net of tax), related to hedge ineffectiveness caused primarily by volatility in the metal premium component of aluminum prices.

For the three and nine months ended September 30, 2014, the Company recognized a gain of $2 and a loss of $1 (net of tax), respectively, related to hedge ineffectiveness caused primarily by volatility in the metal premium component of aluminum prices.

During the twelve month period ending September 30, 2016, a net loss of $18 ($14, net of tax) is expected to be reclassified to earnings. No amounts were reclassified during the nine months ended September 30, 2015 and 2014 in connection with anticipated transactions that were no longer considered probable.

Fair Value Hedges and Contracts Not Designated as Hedges

The Company designates certain derivative financial instruments as fair value hedges of recognized foreign-denominated assets and liabilities, generally trade accounts receivable and payable and unrecognized firm commitments. The notional values and maturity dates of the derivative instruments coincide with those of the hedged items. Changes in fair value of the derivative financial instruments, excluding time value, are offset by changes in fair value of the related hedged items.

Other than for firm commitments, amounts related to time value are excluded from the assessment and measurement of hedge effectiveness and are reported in earnings. Less than $1 was reported in earnings for the three and nine months ended September 30, 2015.

Certain derivative financial instruments, including foreign exchange contracts related to intercompany debt, were not designated in hedge relationships; however, they are effective economic hedges as the changes in their fair value, except

for time value, are offset by changes in re-measurement of the related hedged items. The Company’s primary use of these derivative instruments is to offset the earnings impact that fluctuations in foreign exchange rates have on certain monetary

assets and liabilities denominated in currencies other than the entity's functional currency. Changes in fair value of these derivative instruments are immediately recognized in earnings as foreign exchange adjustments.

The impact on earnings from foreign exchange contracts designated as fair value hedges was a loss of less than $1 and a gain of less than $1 for the three and nine months ended September 30, 2015, respectively, and loss of $3 and a loss of $2 for the three and nine months ended September 30, 2014, respectively . The impact on earnings from foreign exchange contracts not designated as hedges was a gain of $24 and a loss of $19 for the three and nine months ended September 30, 2015, respectively, and a loss of $25 and a loss of $38 for the same periods in 2014. These adjustments were reported within foreign exchange in the Consolidated Statements of Operations and were offset by changes in the fair values of the related underlying hedged items.

During the nine months ended September 30, 2015, certain commodity hedges did not meet the criteria for hedge accounting and therefore the change in their fair value during the quarter was recognized in earnings. For the three and nine months ended September 30, 2015, respectively, the Company recognized losses of $7 ($4, net of tax) and $5 ($3, net of tax) related to these ineffective hedges.

Net Investment Hedges

During the nine months ended September 30, 2015, the Company designated certain derivative and non-derivative financial instruments (debt) as hedges of its net investment in a euro-based subsidiary and recorded a loss of $11 ($7, net of tax) in accumulated other comprehensive income.

Fair Values of Derivative Financial Instruments and Valuation Hierarchy

The following table sets forth the fair value hierarchy for the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, respectively.

	Balance Sheet classification	Fair Value hierarchy	September 30, 2015		December 31, 2014
Derivative assets
Derivatives designated as hedges:
Foreign exchange	Other current assets	2	$	19	$	20
Commodities	Other current assets	2	4		2
Commodities	Other non-current assets	2	1		—
	Total		$	24	$	22
Derivative liabilities
Derivatives designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	$	15	$	20
Commodities	Accounts payable and accrued liabilities	2	23		10
Commodities	Other non-current liabilities	2	3		—
Derivatives not designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	2		15
Commodities	Accounts payable and accrued liabilities	2	5		—
Commodities	Other non-current liabilities	2	1		—
	Total		$	49	$	45

Offsetting of Derivative Assets and Liabilities

Certain derivative financial instruments are subject to agreements with counterparties similar to master netting arrangements and are eligible for offset. The Company has made an accounting policy election not to offset the fair

values of these instruments within the statement of financial position. In the table below, the aggregate fair values of the Company's derivative assets and liabilities are presented on both a gross and net basis, where appropriate.

	Gross amounts recognized in the Balance Sheet	Gross amounts not offset in the Balance Sheet	Net amount
Balance at September 30, 2015
Derivative assets	$24	$6	$18
Derivative liabilities	49	6	43
Balance at December 31, 2014
Derivative assets	22	4	18
Derivative liabilities	45	4	41

Notional Values of Outstanding Derivative Instruments

The aggregate U.S. dollar-equivalent notational values of outstanding derivative instruments in the Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 were:

	September 30, 2015		December 31, 2014
Derivatives in cash flow hedges:
Foreign exchange	$	223	$	678
Commodities	284		213
Derivatives in fair value hedges:
Foreign exchange	88		85
Derivatives not designated as hedges:
Foreign exchange	595		603
Commodities	61		—

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Debt

9 Months Ended

Sep. 30, 2015

Debt and Capital Lease Obligations [Abstract]

Debt

Debt

The Company’s outstanding debt was as follows:

	September 30, 2015			December 31, 2014
Short-term debt	$	61		$	75
Long-term debt
Senior secured borrowings:
Revolving credit facilities	$	45		$	—
Term loan facilities
U.S. dollar at LIBOR plus 1.75% due 2018	875			800
Euro (€700 at September 30, 2015) at EURIBOR plus 1.75% due 2018	782			847
Farm credit facility at LIBOR plus 2.00% due 2019	358			358
Senior notes and debentures:
U.S. dollar 6.25% due 2021	700			700
Euro (€650 at September 30, 2015) 4.0% due 2022	726			786
U.S. dollar 4.50% due 2023	1,000			1,000
Euro (€600 at September 30, 2015) 3.375% due 2025	671			—
U.S. dollar 7.375% due 2026	350			350
U.S. dollar 7.50% due 2096	64			64
Other indebtedness in various currencies	181			281
Unamortized discounts	(2		)	(2		)
Total long-term debt	5,750			5,184
Less: current maturities	(142		)	(177		)
Total long-term debt, less current maturities	$	5,608		$	5,007

The estimated fair value of the Company’s long-term borrowings, using a market approach incorporating Level 2 inputs such as quoted market prices for the same or similar issues, was $5,856 at September 30, 2015 and $5,346 at December 31, 2014.

In February 2015, to fund the acquisition of Empaque as described in Note C, the Company borrowed an additional $75 under its U.S. dollar term loan facility due in December 2018 and $675 under its U.S. dollar term loan facility due in February 2022.

In May 2015, the Company issued €600 ($671 at September 30, 2015) principal amount of 3.375% senior unsecured notes due 2025. The notes were issued at par by Crown European Holdings S.A., a subsidiary of the Company, and are unconditionally guaranteed by the Company and certain of its subsidiaries. The Company used these proceeds to repay its U.S. dollar term loan facility due in February 2022. In connection with the repayment of the term loan facility, the Company recorded a loss from early extinguishment of debt of $9 for the write off of deferred financing costs.

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Income Taxes (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
France
Valuation Allowance [Line Items]
Income tax benefit to fully release the valuation allowance	$ 90	$ 90

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Segment Information (Reconciliation of Segment Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Restructuring and other	$ (40)	$ (8)	$ (57)	$ (91)
Interest expense	(68)	(64)	(202)	(188)
Interest income	4	2	8	5
Foreign exchange	(9)	2	(14)	(4)
Income before income taxes and equity earnings	208	225	509	481
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income	350	343	869	875
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Restructuring and other	(40)	(8)	(57)	(91)
Loss from early extinguishments of debt	0	(34)	(9)	(34)
Interest expense	(68)	(64)	(202)	(188)
Interest income	4	2	8	5
Foreign exchange	(9)	2	(14)	(4)
Segment Reconciling Items [Member] | Other Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income	25	26	62	72
Corporate, Non-Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Corporate and unallocated items	$ (54)	$ (42)	$ (148)	$ (154)

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Income Taxes (Schedule of U.S. Statutory Federal Income Tax Rate to Pre-tax Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory income tax rate	35.00%	35.00%	35.00%	35.00%
U.S. statutory rate at 35%	$ 73	$ 78	$ 178	$ 168
Tax on foreign income	(27)	(30)	(66)	(74)
Tax contingencies	0	0	8	0
Valuation allowance	2	(91)	7	(81)
Non-deductible impairment charge	0	0	1	15
Other items, net	0	2	6	14
Income tax provision	$ 48	$ (41)	$ 134	$ 42

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Pension and Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2015

Pension Benefits - U.S. Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Pension and Other Postretirement Benefits Costs

The components of net periodic pension and other postretirement benefits costs for the three and nine months ended September 30, 2015 and 2014 were as follows:

	Three Months Ended						Nine Months Ended
	September 30						September 30
Pension benefits – U.S. plans	2015			2014			2015			2014
Service cost	$	2		$	3		$	11		$	11
Interest cost	16			15			47			48
Expected return on plan assets	(25		)	(26		)	(75		)	(78		)
Recognized net loss	13			11			38			32
Net periodic cost	$	6		$	3		$	21		$	13

Pension Benefits - Non-U.S. Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Pension and Other Postretirement Benefits Costs

	Three Months Ended						Nine Months Ended
	September 30						September 30
Pension benefits – Non-U.S. plans	2015			2014			2015			2014
Service cost	$	6		$	4		$	19		$	17
Interest cost	31			34			94			115
Expected return on plan assets	(43		)	(43		)	(129		)	(145		)
Recognized prior service credit	(3		)	(3		)	(10		)	(11		)
Recognized net loss	13			15			40			52
Net periodic cost	$	4		$	7		$	14		$	28

Other Postretirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Pension and Other Postretirement Benefits Costs

	Three Months Ended						Nine Months Ended
	September 30						September 30
Other postretirement benefits	2015			2014			2015			2014
Service cost	$	1		$	1		$	1		$	2
Interest cost	2			1			6			7
Recognized prior service credit	(10		)	(8		)	(27		)	(25		)
Recognized net loss	—			2			3			6
Net periodic benefit	$	(7	)	$	(4	)	$	(17	)	$	(10	)

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Restructuring and Other (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($) Employee	Dec. 31, 2014 USD ($)
2015 European Division Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring accrual	$ 17	$ 0
2013 European Division Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring accrual	5	14
2011 and 2012 Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring accrual	16
Write-down of Carrying Value of Fixed Assets [Member] | 2015 European Division Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	13
Termination Benefits [Member] | 2015 European Division Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 17
Reduction in number of employees | Employee	280
Restructuring and related cost, expected cost to incur	$ 12
Restructuring accrual	$ 17	0
Termination Benefits [Member] | 2013 European Division Actions [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in number of employees | Employee	200
Restructuring and related cost, cost incurred to date	$ 31
Restructuring accrual	5	$ 14
Write-off of Non-productive Inventory [Member] | 2015 European Division Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 5

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Income Taxes

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The provision for income taxes differs from the amount of income tax determined by applying the U.S. statutory federal income tax rate to pre-tax income as a result of the following items:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
U.S. statutory rate at 35%	$	73		$	78		$	178		$	168
Tax on foreign income	(27		)	(30		)	(66		)	(74		)
Tax contingencies	—			—			8			—
Valuation allowance	2			(91		)	7			(81		)
Non-deductible impairment charge	—			—			1			15
Other items, net	—			2			6			14
Income tax provision	$	48		$	(41	)	$	134		$	42

During the nine months ended September 30, 2015, the increase in tax contingencies is primarily due to an unfavorable Spanish tax court ruling in a case not directly involving the Company.

For the three and nine months ended September 30, 2014, the Company recognized an income tax benefit of $90 to fully release the valuation allowance against its net deferred tax assets in France. In recent years, the Company's operating profits in France were offset by interest expense. In the third quarter of 2014, the Company refinanced its European bonds resulting in significant interest savings. The impact of the refinancing and current low interest rate environment has significantly lowered the Company's interest expense in France. As the Company is currently generating income in France and is projecting income in the future, the Company has fully released its valuation allowance. Due to the Company's high level of debt in France, a significant increase in interest rates could cause the Company to incur losses which may result in recording additional valuation allowance in the future. The Company's loss carryforwards in France do not expire.

The nine months ended September 30, 2014, also included non-deductible impairment charges related to the divestment of certain operations in connection with the Company's acquisition of Mivisa.

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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Share-based Compensation [Abstract]

Summary Of Restricted Stock Transactions

A summary of restricted stock transactions during the nine months ended September 30, 2015 follows:

	Number of shares
Non-vested stock awards outstanding at January 1, 2015	1,960,357
Awarded:
Time-vesting shares	268,680
Performance-based shares	201,092
Released:
Time-vesting shares	(373,741	)
Performance-based shares	(155,180	)
Forfeitures:
Time-vesting shares	(54,800	)
Performance-based shares	(61,008	)
Non-vested stock awards outstanding at September 30, 2015	1,785,400

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Derivative and Other Financial Instruments (Offsetting of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts Recognized in the Balance Sheet, Derivative Assets	$ 24	$ 22
Gross Amounts Not Offset in the Balance Sheet, Derivative Assets	6	4
Net Amount, Derivative Assets	18	18
Gross Amounts Recognized in the Balance Sheet, Derivative Liabilities	49	45
Gross Amounts Not Offset in the Balance Sheet, Derivative Liabilities	6	4
Net Amount, Derivative Liabilities	$ 43	$ 41

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Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales		$ 2,460	$ 2,594	$ 6,735	$ 6,970
Cost of products sold		1,984	2,119	5,487	5,740
Income before income taxes		208	225	509	481
Provision for income taxes		(48)	41	(134)	(42)
Net income		160	266	375	439
Total (gains) losses on cash flow hedges				45	72
Gains and Losses on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total (gains) losses on cash flow hedges				13	21
Amortization of Defined Benefit Plan Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total (gains) losses on cash flow hedges				32	51
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net income		18	19	45	72
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total (gains) losses on cash flow hedges		9	0	13	21
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges [Member] | Commodities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of products sold		12	(2)	16	24
Income before income taxes		12	(2)	16	24
Provision for income taxes		(3)	1	(4)	(6)
Net income		9	(1)	12	18
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges [Member] | Foreign Exchange [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales		0	(2)	(1)	(2)
Cost of products sold		0	3	2	5
Income before income taxes		0	1	1	3
Provision for income taxes		0	0	0	0
Net income		0	1	1	3
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of Defined Benefit Plan Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes		12	21	43	61
Provision for income taxes		(3)	(2)	(11)	(10)
Net income		9	19	32	51
Actuarial losses	[1]	26	33	81	97
Prior service credit	[1]	$ (14)	$ (12)	$ (38)	$ (36)

[1] These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement cost. See Note N for further details.

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Consolidated Statements of Cash Flows (Condensed) (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income	$ 375	$ 439
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	174	135
Restructuring and other	57	91
Pension expense	35	41
Pension contributions	(54)	(63)
Stock-based compensation	22	18
Changes in assets and liabilities:
Receivables	(201)	(360)
Inventories	(10)	(168)
Accounts payable and accrued liabilities	(94)	(34)
Other, net	11	(90)
Net cash provided by operating activities	315	9
Cash flows from investing activities
Capital expenditures	(176)	(212)
Purchase of business	(1,207)	(733)
Proceeds from sale of property, plant and equipment	3	9
Proceeds from sale of business	33	22
Net investment hedge settlements	(11)	0
Other	(16)	2
Net cash used for investing activities	(1,374)	(912)
Cash flows from financing activities
Proceeds from long-term debt	1,435	2,742
Payments of long-term debt	(780)	(1,720)
Net change in revolving credit facility and short-term debt	34	(232)
Debt issue costs	(18)	(41)
Common stock issued	5	11
Common stock repurchased	(9)	(2)
Purchase of noncontrolling interests	0	(93)
Contributions from noncontrolling interests	3	0
Dividends paid to noncontrolling interests	(21)	(45)
Foreign exchange derivatives related to debt	(38)	(14)
Net cash provided by financing activities	611	606
Effect of exchange rate changes on cash and cash equivalents	(51)	(12)
Net change in cash and cash equivalents	(499)	(309)
Cash and cash equivalents at January 1	965	689
Cash and cash equivalents at September 30	$ 466	$ 380

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Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

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

	Defined benefit plans			Foreign currency translation			Gains and losses on cash flow hedges			Total
Balance at December 31, 2013	$	(1,828	)	$	(658	)	$	(27	)	$	(2,513	)
Other comprehensive loss before reclassifications	—			(161		)	8			(153		)
Amounts reclassified from accumulated other comprehensive income	51			—			21			72
Other comprehensive income (loss)	51			(161		)	29			(81		)
Balance at September 30, 2014	$	(1,777	)	$	(819	)	$	2		$	(2,594	)
Balance at December 31, 2014	$	(1,781	)	$	(980	)	$	(4	)	$	(2,765	)
Other comprehensive income (loss) before reclassifications	16			(357		)	(28		)	(369		)
Amounts reclassified from accumulated other comprehensive income	32			—			13			45
Other comprehensive income (loss)	48			(357		)	(15		)	(324		)
Balance at September 30, 2015	$	(1,733	)	$	(1,337	)	$	(19	)	$	(3,089	)

The following table provides information about amounts reclassified from accumulated other comprehensive income.

	Amounts reclassified from accumulated other comprehensive income
	Three Months Ended						Nine Months Ended
Details about accumulated other	September 30						September 30						Affected line item in the
comprehensive income components	2015			2014			2015			2014			statement of operations
(Gains) losses on cash flow hedges
Commodities	$	12		$	(2	)	$	16		$	24		Cost of products sold
	12			(2		)	16			24			Total before tax
	(3		)	1			(4		)	(6		)	Provision for income taxes
	$	9		$	(1	)	$	12		$	18		Net of tax
Foreign exchange	$	—		$	(2	)	$	(1	)	$	(2	)	Net sales
	—			3			2			5			Cost of products sold
	—			1			1			3			Total before tax
	—			—			—			—			Provision for income taxes
	$	—		$	1		$	1		$	3		Net of tax
Total (gains) losses on cash flow hedges	$	9		$	—		$	13		$	21
Amortization of defined benefit plan items
Actuarial losses	$	26		$	33		$	81		$	97		(a)
Prior service credit	(14		)	(12		)	(38		)	(36		)	(a)
	12			21			43			61			Total before tax
	(3		)	(2		)	(11		)	(10		)	Provision for income taxes
	$	9		$	19		$	32		$	51		Net of tax
Total reclassifications for the period	$	18		$	19		$	45		$	72

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement cost. See Note N for further details.

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Asbestos-Related Liabilities (Summary of Outstanding Claims by Year of Exposure and State Filed) (Details) - Claim	Sep. 30, 2015	Dec. 31, 2014
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims outstanding	54,000	54,000
Asbestos After 1964 [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims outstanding		16,000
Texas [Member] | Asbestos Before Or During 1964 [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims outstanding		13,000
Pennsylvania [Member] | Asbestos Before Or During 1964 [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims outstanding		2,000
Other States That Have Enacted Asbestos Legislation [Member] | Asbestos Before Or During 1964 [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims outstanding		6,000
Other States [Member] | Asbestos Before Or During 1964 [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Claims outstanding		17,000

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Condensed Combining Financial Information (Condensed Combining Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Cash and cash equivalents	$ 466	$ 965	$ 380	$ 689
Receivables, net	1,183	1,031
Inventories	1,302	1,324
Prepaid expenses and other current assets	311	256
Assets held for sale	0	48
Total current assets	3,262	3,624
Goodwill and intangible assets, net	3,664	2,926
Property, plant and equipment, net	2,614	2,437
Other non-current assets	689	721
Total	10,229	9,708
Short-term debt	61	75
Current maturities of long-term debt	142	177
Accounts payable and accrued liabilities	2,527	2,651
Liabilities related to assets held for sale	0	23
Total current liabilities	2,730	2,926
Long-term debt, excluding current maturities	5,608	5,007
Postretirement and pension liabilities	786	871
Other non-current liabilities	$ 672	$ 517
Commitments and contingent liabilities
Noncontrolling interests	$ 293	$ 268
Crown Holdings shareholders' equity/(deficit)	140	119
Total equity/(deficit)	433	387	548	289
Total	10,229	9,708
Crown Cork & Seal Company Inc [Member]
Cash and cash equivalents	466	965	380	689
Receivables, net	1,183	1,031
Inventories	1,302	1,324
Prepaid expenses and other current assets	311	256
Assets held for sale		48
Total current assets	3,262	3,624
Goodwill and intangible assets, net	3,664	2,926
Property, plant and equipment, net	2,614	2,437
Other non-current assets	689	721
Total	10,229	9,708
Short-term debt	61	75
Current maturities of long-term debt	142	177
Accounts payable and accrued liabilities	2,527	2,651
Liabilities related to assets held for sale		23
Total current liabilities	2,730	2,926
Long-term debt, excluding current maturities	5,608	5,007
Postretirement and pension liabilities	786	871
Other non-current liabilities	$ 672	517
Commitments and contingent liabilities
Noncontrolling interests	$ 293	268
Crown Holdings shareholders' equity/(deficit)	140	119
Total equity/(deficit)	433	387
Total	10,229	$ 9,708
Crown Cork & Seal Company Inc [Member] | Parent [Member]
Cash and cash equivalents	0		0
Prepaid expenses and other current assets	1	$ 1
Total current assets	1	1
Investments	3,064	2,199
Total	3,065	2,200
Accounts payable and accrued liabilities	19	20
Total current liabilities	19	20
Long-term intercompany debt	$ 2,906	$ 2,061
Postretirement and pension liabilities
Other non-current liabilities
Commitments and contingent liabilities
Crown Holdings shareholders' equity/(deficit)	$ 140	$ 119
Total equity/(deficit)	140	119
Total	3,065	$ 2,200
Crown Cork & Seal Company Inc [Member] | Issuer [Member]
Cash and cash equivalents	$ 0		0
Receivables, net
Prepaid expenses and other current assets	$ 67	$ 69
Total current assets	67	69
Investments	2,474	2,350
Other non-current assets	397	397
Total	2,938	2,816
Accounts payable and accrued liabilities	41	35
Total current liabilities	41	35
Long-term debt, excluding current maturities	412	412
Long-term intercompany debt	880	824
Other non-current liabilities	$ 297	$ 310
Commitments and contingent liabilities
Crown Holdings shareholders' equity/(deficit)	$ 1,308	$ 1,235
Total equity/(deficit)	1,308	1,235
Total	2,938	2,816
Crown Cork & Seal Company Inc [Member] | Non-Guarantors [Member]
Cash and cash equivalents	466	965	380	689
Receivables, net	1,183	1,031
Inventories	1,302	1,324
Prepaid expenses and other current assets	243	186
Assets held for sale		48
Total current assets	3,194	3,554
Intercompany debt receivables	3,786	2,885
Goodwill and intangible assets, net	3,664	2,926
Property, plant and equipment, net	2,614	2,437
Other non-current assets	292	324
Total	13,550	12,126
Short-term debt	61	75
Current maturities of long-term debt	142	177
Accounts payable and accrued liabilities	2,467	2,596
Liabilities related to assets held for sale		23
Total current liabilities	2,670	2,871
Long-term debt, excluding current maturities	5,196	4,595
Postretirement and pension liabilities	786	871
Other non-current liabilities	$ 375	$ 207
Commitments and contingent liabilities
Noncontrolling interests	$ 293	$ 268
Crown Holdings shareholders' equity/(deficit)	4,230	3,314
Total equity/(deficit)	4,523	3,582
Total	13,550	$ 12,126
Crown Cork & Seal Company Inc [Member] | Eliminations [Member]
Cash and cash equivalents	0		0
Intercompany debt receivables	(3,786)	$ (2,885)
Investments	(5,538)	(4,549)
Total	(9,324)	(7,434)
Long-term intercompany debt	$ (3,786)	$ (2,885)
Commitments and contingent liabilities
Crown Holdings shareholders' equity/(deficit)	$ (5,538)	$ (4,549)
Total equity/(deficit)	(5,538)	(4,549)
Total	(9,324)	(7,434)
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member]
Cash and cash equivalents	466	965	380	$ 689
Receivables, net	1,183	1,031
Inventories	1,302	1,324
Prepaid expenses and other current assets	311	256
Assets held for sale		48
Total current assets	3,262	3,624
Goodwill and intangible assets, net	3,664	2,926
Property, plant and equipment, net	2,614	2,437
Other non-current assets	689	721
Total	10,229	9,708
Short-term debt	61	75
Current maturities of long-term debt	142	177
Accounts payable and accrued liabilities	2,527	2,651
Liabilities related to assets held for sale		23
Total current liabilities	2,730	2,926
Long-term debt, excluding current maturities	5,608	5,007
Long-term intercompany debt		0
Postretirement and pension liabilities	786	871
Other non-current liabilities	$ 672	$ 517
Commitments and contingent liabilities
Noncontrolling interests	$ 293	$ 268
Crown Holdings shareholders' equity/(deficit)	140	119
Total equity/(deficit)	433	387
Total	10,229	9,708
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Parent [Member]
Cash and cash equivalents	0		0
Prepaid expenses and other current assets	1	1
Total current assets	1	1
Investments	3,064	2,199
Total	3,065	2,200
Accounts payable and accrued liabilities	19	20
Total current liabilities	19	20
Long-term intercompany debt	$ 2,906	$ 2,061
Commitments and contingent liabilities
Crown Holdings shareholders' equity/(deficit)	$ 140	$ 119
Total equity/(deficit)	140	119
Total	3,065	2,200
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Issuer [Member]
Cash and cash equivalents	$ 32	$ 128	37	$ 177
Receivables, net
Prepaid expenses and other current assets	$ 1	$ 4
Total current assets	33	132
Intercompany debt receivables	3,201	2,415
Investments	2,158	2,005
Property, plant and equipment, net	1	1
Other non-current assets	45	51
Total	5,438	$ 4,604
Current maturities of long-term debt	48
Accounts payable and accrued liabilities	24	$ 49
Total current liabilities	72	49
Long-term debt, excluding current maturities	2,886	2,858
Long-term intercompany debt	$ 1,266	$ 584
Commitments and contingent liabilities
Crown Holdings shareholders' equity/(deficit)	$ 1,214	$ 1,113
Total equity/(deficit)	1,214	1,113
Total	5,438	$ 4,604
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Guarantor Subsidiaries [Member]
Cash and cash equivalents	0		1	2
Receivables, net	7	$ 18
Intercompany receivables	41	20
Inventories	281	291
Prepaid expenses and other current assets	76	75
Total current assets	405	404
Intercompany debt receivables	3,665	2,640
Investments	805	850
Goodwill and intangible assets, net	472	473
Property, plant and equipment, net	330	328
Other non-current assets	394	413
Total	$ 6,071	5,108
Current maturities of long-term debt		44
Accounts payable and accrued liabilities	$ 485	480
Intercompany payables	9	11
Total current liabilities	494	535
Long-term debt, excluding current maturities	412	368
Long-term intercompany debt	3,178	2,199
Postretirement and pension liabilities	384	464
Other non-current liabilities	$ 295	$ 307
Commitments and contingent liabilities
Crown Holdings shareholders' equity/(deficit)	$ 1,308	$ 1,235
Total equity/(deficit)	1,308	1,235
Total	6,071	5,108
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Non-Guarantors [Member]
Cash and cash equivalents	434	837	342	$ 510
Receivables, net	1,176	1,013
Intercompany receivables	9	11
Inventories	1,021	1,033
Prepaid expenses and other current assets	233	176
Assets held for sale		48
Total current assets	2,873	3,118
Intercompany debt receivables	693	27
Goodwill and intangible assets, net	3,192	2,453
Property, plant and equipment, net	2,283	2,108
Other non-current assets	250	257
Total	9,291	7,963
Short-term debt	61	75
Current maturities of long-term debt	94	133
Accounts payable and accrued liabilities	1,999	2,102
Intercompany payables	41	20
Liabilities related to assets held for sale		23
Total current liabilities	2,195	2,353
Long-term debt, excluding current maturities	2,310	1,781
Long-term intercompany debt	209	238
Postretirement and pension liabilities	402	407
Other non-current liabilities	$ 377	$ 210
Commitments and contingent liabilities
Noncontrolling interests	$ 293	$ 268
Crown Holdings shareholders' equity/(deficit)	3,505	2,706
Total equity/(deficit)	3,798	2,974
Total	9,291	7,963
Crown Americas, LLC, Crown Americas Capital Corp. And Crown Americas Capital Corp. II [Member] | Eliminations [Member]
Cash and cash equivalents	0		$ 0
Intercompany receivables	(50)	(31)
Total current assets	(50)	(31)
Intercompany debt receivables	(7,559)	(5,082)
Investments	(6,027)	(5,054)
Total	(13,636)	(10,167)
Intercompany payables	(50)	(31)
Total current liabilities	(50)	(31)
Long-term intercompany debt	$ (7,559)	$ (5,082)
Commitments and contingent liabilities
Crown Holdings shareholders' equity/(deficit)	$ (6,027)	$ (5,054)
Total equity/(deficit)	(6,027)	(5,054)
Total	$ (13,636)	$ (10,167)

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Receivables (Tables)

9 Months Ended

Sep. 30, 2015

Receivables [Abstract]

Schedule of Receivables

	September 30, 2015			December 31, 2014
Accounts receivable	$	1,064		$	940
Less: allowance for doubtful accounts	(84		)	(88		)
Net trade receivables	980			852
Miscellaneous receivables	203			179
Receivables, net	$	1,183		$	1,031

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Acquisitions (Details) - USD ($) $ in Millions	Feb. 18, 2015	Apr. 23, 2014
Empaque [Member]
Business Acquisition [Line Items]
Cash	$ 1,207
Total consideration	1,207
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net	106
Inventories	55
Prepaid expenses and other current assets	1
Intangible assets	460
Property, plant and equipment, net	294
Accounts payable and accrued liabilities	(89)
Other non-current liabilities	(223)
Total identifiable net assets	604
Goodwill	$ 603
Mivisa [Member]
Business Acquisition [Line Items]
Cash		$ 733
Total consideration		733
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net		201
Inventories		195
Prepaid expenses and other current assets		11
Intangible assets		295
Property, plant and equipment, net		318
Net assets of business to be divested		9
Accounts payable and accrued liabilities		(159)
Debt		(977)
Other non-current liabilities		(98)
Total identifiable net assets		(205)
Goodwill		$ 938

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Pension and Other Postretirement Benefits

9 Months Ended

Sep. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits

Pension and Other Postretirement Benefits

The components of net periodic pension and other postretirement benefits costs for the three and nine months ended September 30, 2015 and 2014 were as follows:

	Three Months Ended						Nine Months Ended
	September 30						September 30
Pension benefits – U.S. plans	2015			2014			2015			2014
Service cost	$	2		$	3		$	11		$	11
Interest cost	16			15			47			48
Expected return on plan assets	(25		)	(26		)	(75		)	(78		)
Recognized net loss	13			11			38			32
Net periodic cost	$	6		$	3		$	21		$	13

	Three Months Ended						Nine Months Ended
	September 30						September 30
Pension benefits – Non-U.S. plans	2015			2014			2015			2014
Service cost	$	6		$	4		$	19		$	17
Interest cost	31			34			94			115
Expected return on plan assets	(43		)	(43		)	(129		)	(145		)
Recognized prior service credit	(3		)	(3		)	(10		)	(11		)
Recognized net loss	13			15			40			52
Net periodic cost	$	4		$	7		$	14		$	28

	Three Months Ended						Nine Months Ended
	September 30						September 30
Other postretirement benefits	2015			2014			2015			2014
Service cost	$	1		$	1		$	1		$	2
Interest cost	2			1			6			7
Recognized prior service credit	(10		)	(8		)	(27		)	(25		)
Recognized net loss	—			2			3			6
Net periodic benefit	$	(7	)	$	(4	)	$	(17	)	$	(10	)

During the third quarter of 2015, the Company amended its U.S. retiree medical and life insurance plan to eliminate retiree medical benefits and to reduce life insurance benefits for certain active and retired employees. As a result of these changes, the Company was required to re-measure the associated plans as of September 1, 2015. The re-measurement and amendment resulted in a net decrease of $54 to the Company's postretirement benefit obligation which will be amortized over the average remaining service life of active participants.