Exhibit 99.1
Crown Holdings, Inc.
2005 Consolidated Statements of Operations by Quarter
First | Second | Third | Fourth | Total | ||||||
Quarter | Quarter | Quarter | Quarter | Year | ||||||
Net sales | $1,529 | $1,822 | $1,928 | $1,629 | $6,908 | |||||
Cost of products sold, excluding depreciation and amortization | 1,286 | 1,502 | 1,593 | 1,378 | 5,759 | |||||
Depreciation and amortization | 61 | 64 | 63 | 61 | 249 | |||||
Gross profit | 182 | 256 | 272 | 190 | 900 | |||||
Selling and administrative expense | 84 | 90 | 88 | 87 | 349 | |||||
Provision for asbestos | 10 | 10 | ||||||||
Provision for restructuring | 3 | 13 | 16 | |||||||
Provision for asset impairments and loss/gain on sale of assets | (5 | ) | (17 | ) | 32 | 10 | ||||
Loss from ealy extinguishments of debt | 2 | 381 | 383 | |||||||
Interest expense | 94 | 95 | 94 | 78 | 361 | |||||
Interest income | (2 | ) | (2 | ) | (2 | ) | (3 | ) | (9 | ) |
Translation and foreign exchange adjustments | 30 | 65 | (19 | ) | 18 | 94 | ||||
Income/(loss) from continuing operations before income taxes, minority interests and equity earnings | (19 | ) | 23 | 108 | (426 | ) | (314 | ) | ||
Provision/(benefit) for income taxes | (5 | ) | 1 | 17 | (15 | ) | (2 | ) | ||
Minority interests and equity earnings | (4 | ) | (7 | ) | (11 | ) | (17 | ) | (39 | ) |
Income/(loss) from continuing operations | (18 | ) | 15 | 80 | (428 | ) | (351 | ) | ||
Income/(loss) from discontinued operations | 8 | 13 | (2 | ) | (30 | ) | (11 | ) | ||
Net income/(loss) | $(10 | ) | $28 | $78 | $(458 | ) | $(362 | ) | ||
Basic earnings/(loss) per average common share: | ||||||||||
Continuing operations | $(0.11 | ) | $0.09 | $0.48 | $(2.58 | ) | $(2.12 | ) | ||
Discontinued operations | 0.05 | 0.08 | (0.01 | ) | (0.18 | ) | (0.06 | ) | ||
Net income/(loss) | $(0.06 | ) | $0.17 | $0.47 | $(2.76 | ) | $(2.18 | ) | ||
Diluted earnings/(loss) per average common share: | ||||||||||
Continuing operations | $(0.11 | ) | $0.08 | $0.46 | $(2.58 | ) | $(2.12 | ) | ||
Discontinued operations | 0.05 | 0.08 | (0.01 | ) | (0.18 | ) | (0.06 | ) | ||
Net income/(loss) | $(0.06 | ) | $0.16 | $0.45 | $(2.76 | ) | $(2.18 | ) | ||
Weighted-average common shares outstanding: | ||||||||||
Basic | 165,819,217 | 165,694,221 | 165,867,132 | 166,228,274 | 165,903,236 | |||||
Diluted | 171,863,163 | 171,526,145 | 171,909,751 | 172,271,798 | 171,893,739 |
Crown Holdings, Inc.
2005 Segment Sales and Income by Quarter
First | Second | Third | Fourth | Total | ||||||
Quarter | Quarter | Quarter | Quarter | Year | ||||||
Net Sales | ||||||||||
Americas Beverage | $370 | $455 | $433 | $401 | $1,659 | |||||
North America Food | 160 | 190 | 221 | 183 | 754 | |||||
Europe Beverage | 184 | 265 | 273 | 241 | 963 | |||||
Europe Food | 407 | 465 | 567 | 403 | 1,842 | |||||
Europe Specialty Packaging | 94 | 105 | 112 | 95 | 406 | |||||
Total reportable segments | 1,215 | 1,480 | 1,606 | 1,323 | 5,624 | |||||
Non-reportable segments | 314 | 342 | 322 | 306 | 1,284 | |||||
Total net sales | $1,529 | $1,822 | $1,928 | $1,629 | $6,908 | |||||
Segment Income | ||||||||||
Americas Beverage | $37 | $55 | $56 | $49 | $197 | |||||
North America Food | 5 | 14 | 13 | 10 | 42 | |||||
Europe Beverage | 26 | 41 | 43 | 30 | 140 | |||||
Europe Food | 39 | 59 | 70 | 30 | 198 | |||||
Europe Specialty Packaging | 4 | 8 | 7 | 1 | 20 | |||||
Total reportable segments | $111 | $177 | $189 | $120 | $597 | |||||
A reconciliation of segment income of reportable segments to consolidated income/(loss) from continuing operations before income taxes, minority interests and equity earnings for each of the quarters and the total year of 2005 follows:
Segment income of reportable segments | $111 | $177 | $189 | $120 | $597 | |||||
Segment income of non-reportable segments | 30 | 29 | 27 | 22 | 108 | |||||
Corporate and other non-allocated costs | (43 | ) | (40 | ) | (32 | ) | (39 | ) | (154 | ) |
Provision for asbestos | (10 | ) | (10 | ) | ||||||
Provision for restructuring | (3 | ) | (13 | ) | (16 | ) | ||||
Provision for asset impairments and loss/gain on sale of assets | 5 | 17 | (32 | ) | (10 | ) | ||||
Loss from early extinguishments of debt | (2 | ) | (381 | ) | (383 | ) | ||||
Interest expense | (94 | ) | (95 | ) | (94 | ) | (78 | ) | (361 | ) |
Interest income | 2 | 2 | 2 | 3 | 9 | |||||
Translation and exchange adjustments | (30 | ) | (65 | ) | 19 | (18 | ) | (94 | ) | |
Income/(loss) from continuing operations before income taxes, minority interests and equity earnings | $(19 | ) | $23 | $108 | $(426 | ) | $(314 | ) | ||