Condensed Combining Financial Information | Condensed Combining Financial Information Crown Cork & Seal Company, Inc. (Issuer), a wholly owned subsidiary, has $350 principal amount of 7.375% senior notes due 2026 and $40 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 and Cash Flows for the years ended December 31, 2019, 2018 , 2017, and • Balance Sheets as of December 31, 2019 and December 31, 2018 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 year ended December 31, 2019 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Net sales $ 11,665 $ 11,665 Cost of products sold, excluding depreciation and amortization 9,349 9,349 Depreciation and amortization 490 490 Selling and administrative expense $ 3 628 631 Restructuring and other (26 ) (26 ) Goodwill impairment 25 25 Income from operations — (3 ) 1,199 — 1,196 Loss from early extinguishments of debt 27 27 Other pension and postretirement 7 6 13 Net interest expense 73 288 361 Foreign exchange 9 9 Income/(loss) before income taxes — (83 ) 869 — 786 Provision for / (benefit from) income taxes (12 ) 178 166 Equity in net earnings of affiliates $ 510 509 5 $ (1,019 ) 5 Net income 510 438 696 (1,019 ) 625 Net income attributable to noncontrolling interests (115 ) (115 ) Net income attributable to Crown Holdings $ 510 $ 438 $ 581 $ (1,019 ) $ 510 Total comprehensive income $ 753 $ 647 $ 941 $ (1,471 ) $ 870 Comprehensive income attributable to noncontrolling interests (117 ) (117 ) Comprehensive income attributable to Crown Holdings $ 753 $ 647 $ 824 $ (1,471 ) $ 753 CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2018 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Net sales $ 11,151 $ 11,151 Cost of products sold, excluding depreciation and amortization 9,028 9,028 Depreciation and amortization 425 425 Selling and administrative expense $ 3 555 558 Restructuring and other $ 9 35 44 Income from operations (9 ) (3 ) 1,108 — 1,096 Other pension and postretirement 7 (32 ) (25 ) Net interest expense 74 289 363 Foreign exchange 18 18 Income/(loss) before income taxes (9 ) (84 ) 833 — 740 Provision for / (benefit from) income taxes (2 ) 7 211 216 Equity in net earnings of affiliates 446 456 4 $ (902 ) 4 Net income 439 365 626 (902 ) 528 Net income attributable to noncontrolling interests (89 ) (89 ) Net income attributable to Crown Holdings $ 439 $ 365 $ 537 $ (902 ) $ 439 Total comprehensive income $ 303 $ 259 $ 487 $ (660 ) $ 389 Comprehensive income attributable to noncontrolling interests (86 ) (86 ) Comprehensive income attributable to Crown Holdings $ 303 $ 259 $ 401 $ (660 ) $ 303 CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2017 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Net sales $ 8,698 $ 8,698 Cost of products sold, excluding depreciation and amortization 7,006 7,006 Depreciation and amortization 247 247 Selling and administrative expense $ 2 365 367 Provision for asbestos 3 3 Restructuring and other (1 ) 52 51 Income from operations — (4 ) 1,028 — 1,024 Loss from early extinguishments of debt 7 7 Other pension and postretirement 7 (60 ) (53 ) Net interest expense 91 146 237 Foreign exchange 4 4 Income/(loss) before income taxes — (102 ) 931 — 829 Provision for / (benefit from) income taxes 194 207 401 Equity in net earnings of affiliates $ 323 531 $ (854 ) — Net income 323 235 724 (854 ) 428 Net income attributable to noncontrolling interests (105 ) (105 ) Net income attributable to Crown Holdings $ 323 $ 235 $ 619 $ (854 ) $ 323 Total comprehensive income $ 482 $ 275 $ 886 $ (1,053 ) 590 Comprehensive income attributable to noncontrolling interests (108 ) (108 ) Comprehensive income attributable to Crown Holdings $ 482 $ 275 $ 778 $ (1,053 ) $ 482 As of December 31, 2019 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Assets Current assets Cash and cash equivalents $ 607 $ 607 Receivables, net $ 11 1,517 1,528 Inventories 1,626 1,626 Prepaid expenses and other current assets 241 241 Total current assets — 11 3,991 — 4,002 Intercompany debt receivables 3,538 $ (3,538 ) — Investments $ 4,209 4,439 (8,648 ) — Goodwill 4,430 4,430 Intangible assets 2,015 2,015 Property, plant and equipment, net 3,887 3,887 Operating lease right-of-use assets, net 204 204 Other non-current assets 129 838 967 Total $ 4,209 $ 4,579 $ 18,903 $ (12,186 ) $ 15,505 Liabilities and equity Current liabilities Short-term debt $ 75 $ 75 Current maturities of long-term debt 62 62 Current portion of operating lease liabilities 51 51 Accounts payable 2,646 2,646 Accrued liabilities $ 24 $ 33 1,008 1,065 Total current liabilities 24 33 3,842 — 3,899 Long-term debt, excluding current maturities 388 7,430 7,818 Long-term intercompany debt 2,472 1,066 $ (3,538 ) — Non-current portion of operating lease liabilities 156 156 Postretirement and pension liabilities 683 683 Other non-current liabilities 311 546 857 Commitments and contingent liabilities Noncontrolling interests 379 379 Crown Holdings shareholders’ equity 1,713 2,781 5,867 (8,648 ) 1,713 Total equity 1,713 2,781 6,246 (8,648 ) 2,092 Total $ 4,209 $ 4,579 $ 18,903 $ (12,186 ) $ 15,505 CONDENSED COMBINING BALANCE SHEET As of December 31, 2018 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Assets Current assets Cash and cash equivalents $ 607 $ 607 Receivables, net $ 9 1,593 1,602 Inventories 1,690 1,690 Prepaid expenses and other current assets $ 1 1 178 180 Total current assets 1 10 4,068 — 4,079 Intercompany debt receivables 3,561 $ (3,561 ) — Investments 3,458 3,764 (7,222 ) — Goodwill 4,442 4,442 Intangible assets 2,193 2,193 Property, plant and equipment, net 3,745 3,745 Other non-current assets 156 647 803 Total $ 3,459 $ 3,930 $ 18,656 $ (10,783 ) $ 15,262 Liabilities and equity Current liabilities Short-term debt $ 89 $ 89 Current maturities of long-term debt 81 81 Accounts payable 2,732 2,732 Accrued liabilities $ 14 $ 30 967 1,011 Total current liabilities 14 30 3,869 — 3,913 Long-term debt, excluding current maturities 388 8,105 8,493 Long-term intercompany debt 2,508 1,053 $ (3,561 ) — Postretirement and pension liabilities 683 683 Other non-current liabilities 325 562 887 Commitments and contingent liabilities Noncontrolling interests 349 349 Crown Holdings shareholders’ equity 937 2,134 5,088 (7,222 ) 937 Total equity 937 2,134 5,437 (7,222 ) 1,286 Total $ 3,459 $ 3,930 $ 18,656 $ (10,783 ) $ 15,262 CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2019 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Net cash provided by/(used for) operating activities $ 39 $ (13 ) $ 1,180 $ (43 ) $ 1,163 Cash flows from investing activities Capital expenditures (432 ) (432 ) Acquisition of businesses, net of cash acquired (11 ) (11 ) Net investment hedges 23 23 Proceeds from sale of property, plant and equipment 39 39 Other 7 7 Net cash provided by/(used for) investing activities — — (374 ) — (374 ) Cash flows from financing activities Proceeds from long-term debt 2,216 2,216 Payments of long-term debt (2,845 ) (2,845 ) Net change in revolving credit facility and short-term debt (10 ) (10 ) Net change in long-term intercompany balances (36 ) 13 23 — Payments of finance leases (15 ) (15 ) Debt issuance costs (18 ) (18 ) Common stock issued 4 4 Common stock repurchased (7 ) (7 ) Dividends paid (43 ) 43 — Dividend paid to noncontrolling interests (101 ) (101 ) Contribution from noncontrolling interests 6 6 Foreign exchange derivatives related to debt (16 ) (16 ) Net cash provided by/(used for) financing activities (39 ) 13 (803 ) 43 (786 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1 1 Net change in cash, cash equivalents, and restricted cash — — 4 — 4 Cash, cash equivalents, and restricted cash at January 1 659 659 Cash, cash equivalents, and restricted cash at December 31 $ — $ — $ 663 $ — $ 663 CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2018 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Net cash provided by/(used for) operating activities $ (8 ) $ (74 ) $ 692 $ (39 ) $ 571 Cash flows from investing activities Capital expenditures (462 ) (462 ) Beneficial interest in transferred receivables 490 490 Acquisition of businesses, net of cash acquired (3,912 ) (3,912 ) Proceeds from sale of property, plant and equipment 36 36 Foreign exchange derivatives related to acquisitions (25 ) (25 ) Net investment hedge settlements 34 34 Other (4 ) (4 ) Net cash provided by/(used for) investing activities — — (3,843 ) — (3,843 ) Cash flows from financing activities Proceeds from long-term debt 4,082 4,082 Payments of long-term debt (333 ) (333 ) Net change in revolving credit facility and short-term debt (69 ) (69 ) Net change in long-term intercompany balances 11 74 (85 ) — Debt issuance costs (70 ) (70 ) Common stock issued 1 1 Common stock repurchased (4 ) (4 ) Dividends paid (39 ) 39 — Dividend paid to noncontrolling interests (60 ) (60 ) Foreign exchange derivatives related to debt (14 ) (14 ) Net cash provided by/(used for) financing activities 8 74 3,412 39 3,533 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (37 ) (37 ) Net change in cash, cash equivalents, and restricted cash — — 224 — 224 Cash, cash equivalents, and restricted cash at January 1 435 435 Cash, cash equivalents, and restricted cash at December 31 $ — $ — $ 659 $ — $ 659 CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2017 (in millions) Parent Issuer Non- Guarantors Eliminations Total Company Net cash provided by/(used for) operating activities $ 7 $ (58 ) $ (162 ) $ (38 ) $ (251 ) Cash flows from investing activities Capital expenditures (498 ) (498 ) Beneficial interest in transferred receivables 1,010 1,010 Proceeds from sale of property, plant and equipment 8 8 Intercompany investing activities 235 (235 ) — Other (24 ) (24 ) Net cash provided by/(used for) investing activities 235 — 496 (235 ) 496 Cash flows from financing activities Proceeds from long-term debt 1,054 1,054 Payments of long-term debt (5 ) (1,132 ) (1,137 ) Net change in revolving credit facility and short-term debt 95 95 Net change in long-term intercompany balances 88 63 (151 ) — Debt issuance costs (16 ) (16 ) Common stock issued 9 9 Common stock repurchased (339 ) (339 ) Dividends paid (273 ) 273 — Dividend paid to noncontrolling interests (93 ) (93 ) Foreign exchange derivatives related to debt 27 27 Net cash provided by/(used for) financing activities (242 ) 58 (489 ) 273 (400 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 14 14 Net change in cash, cash equivalents, and restricted cash — — (141 ) — (141 ) Cash, cash equivalents, and restricted cash at January 1 576 576 Cash, cash equivalents, and restricted cash at December 31 $ — $ — $ 435 $ — $ 435 Crown Americas, LLC, Crown Americas Capital Corp. II, Crown Americas Capital Corp. III and Crown Americas Capital Corp. V (collectively, the Issuers), wholly owned subsidiaries of the Company, have outstanding $1,000 principal amount of 4.5% senior notes due 2023 , $400 principal amount of 4.25% senior notes due 2026, and $875 principal amount of 4.75% senior notes due 2026 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 and Cash Flows for the years ended December 31, 2018, 2018 , 2016, and • Balance Sheets as of December 31, 2019 and December 31, 2018 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 year ended December 31, 2019 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Net sales $ 3,766 $ 8,358 $ (459 ) $ 11,665 Cost of products sold, excluding depreciation and amortization 3,147 6,661 (459 ) 9,349 Depreciation and amortization 141 349 490 Selling and administrative expense $ 10 264 357 631 Restructuring and other 14 (40 ) (26 ) Goodwill impairment 25 25 Income from operations — (10 ) 200 1,006 — 1,196 Loss from early extinguishments of debt 19 8 27 Other pension and postretirement 11 2 13 Net interest expense 77 124 160 361 Technology royalty (42 ) 42 — Foreign exchange (34 ) 1 8 34 9 Income/(loss) before income taxes — (72 ) 106 786 (34 ) 786 Provision for / (benefit from) income taxes (17 ) 59 132 (8 ) 166 Equity in net earnings of affiliates $ 510 206 358 2 (1,071 ) 5 Net income 510 151 405 656 (1,097 ) 625 Net income attributable to noncontrolling interests (115 ) (115 ) Net income attributable to Crown Holdings $ 510 $ 151 $ 405 $ 541 $ (1,097 ) $ 510 Total comprehensive income $ 753 $ 199 $ 614 $ 827 $ (1,523 ) $ 870 Comprehensive income attributable to noncontrolling interests (117 ) (117 ) Comprehensive income attributable to Crown Holdings $ 753 $ 199 $ 614 $ 710 $ (1,523 ) $ 753 CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2018 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Net sales $ 3,426 $ 8,212 $ (487 ) $ 11,151 Cost of products sold, excluding depreciation and amortization 2,932 6,583 (487 ) 9,028 Depreciation and amortization 117 308 425 Selling and administrative expense $ 11 216 331 558 Restructuring and other $ 9 11 24 44 Income from operations (9 ) (11 ) 150 966 — 1,096 Other pension and postretirement (14 ) (11 ) (25 ) Net interest expense 91 113 159 363 Technology royalty (45 ) 45 — Foreign exchange (16 ) 19 15 18 Income/(loss) before income taxes (9 ) (86 ) 96 754 (15 ) 740 Provision for / (benefit from) income taxes (2 ) (20 ) 53 188 (3 ) 216 Equity in net earnings of affiliates 446 191 311 1 (945 ) 4 Net income 439 125 354 567 (957 ) 528 Net income attributable to noncontrolling interests (89 ) (89 ) Net income attributable to Crown Holdings $ 439 $ 125 $ 354 $ 478 $ (957 ) $ 439 Total comprehensive income $ 303 $ 62 $ 248 $ 479 $ (703 ) $ 389 Comprehensive income attributable to noncontrolling interests (86 ) (86 ) Comprehensive income attributable to Crown Holdings $ 303 $ 62 $ 248 $ 393 $ (703 ) $ 303 CONDENSED COMBINING STATEMENT OF COMPREHENSIVE INCOME For the year ended December 31, 2017 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Net sales $ 2,286 $ 6,797 $ (385 ) $ 8,698 Cost of products sold, excluding depreciation and amortization 1,960 5,431 (385 ) 7,006 Depreciation and amortization 40 207 247 Selling and administrative expense $ 10 134 223 367 Provision for asbestos 3 3 Restructuring and other 2 11 38 51 Income from operations (12 ) 138 898 — 1,024 Loss from early extinguishments of debt 6 1 7 Other pension and postretirement (13 ) (40 ) (53 ) Net interest expense 65 95 77 237 Technology royalty (42 ) 42 — Foreign exchange 90 (2 ) 6 (90 ) 4 Income/(loss) before income taxes (173 ) 100 812 90 829 Provision for / (benefit from) income taxes (66 ) 271 164 32 401 Equity in net earnings of affiliates $ 323 194 406 (923 ) — Net income 323 87 235 648 (865 ) 428 Net income attributable to noncontrolling interests (105 ) (105 ) Net income attributable to Crown Holdings $ 323 $ 87 $ 235 $ 543 $ (865 ) $ 323 Total comprehensive income $ 482 $ 115 $ 275 $ 854 $ (1,136 ) $ 590 Comprehensive income attributable to noncontrolling interests (108 ) (108 ) Comprehensive income attributable to Crown Holdings $ 482 $ 115 $ 275 $ 746 $ (1,136 ) $ 482 CONDENSED COMBINING BALANCE SHEET As of December 31, 2019 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Assets Current assets Cash and cash equivalents $ 133 $ 5 $ 469 $ 607 Receivables, net 11 140 1,377 1,528 Intercompany receivables 48 23 $ (71 ) — Inventories 443 1,183 1,626 Prepaid expenses and other current assets 2 19 220 241 Total current assets — 146 655 3,272 (71 ) 4,002 Intercompany debt receivables 3,080 3,352 245 (6,677 ) — Investments $ 4,209 2,850 1,495 (8,554 ) — Goodwill 1,186 3,244 4,430 Intangible assets 832 1,183 2,015 Property, plant and equipment, net 1 725 3,161 3,887 Operating lease right-of-use assets, net 3 64 137 204 Other non-current assets 62 148 757 967 Total $ 4,209 $ 6,142 $ 8,457 $ 11,999 $ (15,302 ) $ 15,505 Liabilities and equity Current liabilities Short-term debt $ 75 $ 75 Current maturities of long-term debt $ 27 35 62 Current portion of operating lease liabilities $ 19 32 51 Accounts payable 682 1,964 2,646 Accrued liabilities $ 24 49 134 858 1,065 Intercompany payables 23 48 $ (71 ) — Total current liabilities 24 76 858 3,012 (71 ) 3,899 Long-term debt, excluding current maturities 3,313 388 4,117 7,818 Long-term intercompany debt 2,472 996 3,082 127 (6,677 ) — Non-current portion of operating lease liabilities 3 48 105 156 Postretirement and pension liabilities 386 297 683 Other non-current liabilities 303 554 857 Commitments and contingent liabilities Noncontrolling interests 379 379 Crown Holdings shareholders’ equity 1,713 1,754 3,392 3,408 (8,554 ) 1,713 Total equity 1,713 1,754 3,392 3,787 (8,554 ) 2,092 Total $ 4,209 $ 6,142 $ 8,457 $ 11,999 $ (15,302 ) $ 15,505 CONDENSED COMBINING BALANCE SHEET As of December 31, 2018 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Assets Current assets Cash and cash equivalents $ 117 $ 19 $ 471 $ 607 Receivables, net 4 182 1,416 1,602 Intercompany receivables 33 13 $ (46 ) — Inventories 485 1,205 1,690 Prepaid expenses and other current assets $ 1 1 17 161 180 Total current assets 1 122 736 3,266 (46 ) 4,079 Intercompany debt receivables 2,577 3,449 12 (6,038 ) — Investments 3,458 2,657 1,248 (7,363 ) — Goodwill 1,178 3,264 4,442 Intangible assets 901 1,292 2,193 Property, plant and equipment, net 1 693 3,051 3,745 Other non-current assets 29 192 582 803 Total $ 3,459 $ 5,386 $ 8,397 $ 11,467 $ (13,447 ) $ 15,262 Liabilities and equity Current liabilities Short-term debt $ 89 $ 89 Current maturities of long-term debt $ 37 44 81 Accounts payable $ 725 2,007 2,732 Accrued liabilities $ 14 49 144 804 1,011 Intercompany payables 13 33 $ (46 ) — Total current liabilities 14 86 882 2,977 (46 ) 3,913 Long-term debt, excluding current maturities 2,999 1,274 4,220 8,493 Long-term intercompany debt 2,508 746 2,700 84 (6,038 ) — Postretirement and pension liabilities 432 251 683 Other non-current liabilities 332 555 887 Commitments and contingent liabilities Noncontrolling interests 349 349 Crown Holdings shareholders’ equity 937 1,555 2,777 3,031 (7,363 ) 937 Total equity 937 1,555 2,777 3,380 (7,363 ) 1,286 Total $ 3,459 $ 5,386 $ 8,397 $ 11,467 $ (13,447 ) $ 15,262 CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2019 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Net provided by/(used for) operating activities $ 39 $ (29 ) $ 281 $ 975 $ (103 ) $ 1,163 Cash flows from investing activities Capital expenditures (97 ) (335 ) (432 ) Acquisition of businesses, net of cash acquired (11 ) (11 ) Net investment hedges 23 23 Proceeds from sale of property, plant and equipment 8 31 39 Intercompany investing activities 226 (226 ) — Other 7 7 Net cash provided by/(used for) investing activities — 23 126 (297 ) (226 ) (374 ) Cash flows from financing activities Proceeds from long-term debt 1,100 1,116 2,216 Payments of long-term debt (815 ) (887 ) (1,143 ) (2,845 ) Net change in revolving credit facility and short-term debt (10 ) (10 ) Net change in long-term intercompany balances (36 ) (253 ) 479 (190 ) — Payments of finance leases (13 ) (2 ) (15 ) Debt issuance costs (10 ) (8 ) (18 ) Common stock issued 4 4 Common stock repurchased (7 ) (7 ) Dividends paid (329 ) 329 — Dividends paid to noncontrolling interests (101 ) (101 ) Contribution from noncontrolling interests 6 6 Foreign exchange derivatives related to debt (16 ) (16 ) Net cash provided by/(used for) financing activities (39 ) 22 (421 ) (677 ) 329 (786 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1 1 Net change in cash, cash equivalents, and restricted cash — 16 (14 ) 2 — 4 Cash, cash equivalents, and restricted cash at January 1 — 117 19 523 — 659 Cash, cash equivalents, and restricted cash at December 31 $ — $ 133 $ 5 $ 525 $ — $ 663 CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2018 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Net provided by/(used for) operating activities $ (8 ) $ (44 ) $ 180 $ 532 $ (89 ) $ 571 Cash flows from investing activities Capital expenditures (60 ) (402 ) (462 ) Beneficial interest in transferred receivables 490 490 Acquisition of businesses, net of cash acquired (3,912 ) (3,912 ) Proceeds from sale of property, plant and equipment 9 27 36 Intercompany investing activities (100 ) 100 — Foreign exchange derivatives related to acquisition (25 ) (25 ) Net investment hedge settlements 34 34 Other (4 ) (4 ) Net cash provided by/(used for) investing activities — (66 ) (51 ) (3,826 ) 100 (3,843 ) Cash flows from financing activities Proceeds from long-term debt 975 1,150 1,957 4,082 Payments of long-term debt (25 ) (265 ) (43 ) (333 ) Net change in revolving credit facility and short-term debt (69 ) (69 ) Net change in long-term intercompany balances 11 (719 ) (998 ) 1,706 — Debt issuance costs (40 ) (30 ) (70 ) Common stock issued 1 1 Common stock repurchased (4 ) (4 ) Capital contribution 100 (100 ) — Dividends paid (89 ) 89 — Dividends paid to noncontrolling interests (60 ) (60 ) Foreign exchange derivatives related to debt (14 ) (14 ) Net cash provided by/(used for) financing activities 8 191 (113 ) 3,458 (11 ) 3,533 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (37 ) (37 ) Net change in cash, cash equivalents, and restricted cash — 81 16 127 — 224 Cash, cash equivalents, and restricted cash at January 1 — 36 3 396 — 435 Cash, cash equivalents, and restricted cash at December 31 $ — $ 117 $ 19 $ 523 $ — $ 659 CONDENSED COMBINING STATEMENT OF CASH FLOWS For the year ended December 31, 2017 (in millions) Parent Issuer Guarantors Non- Guarantors Eliminations Total Company Net provided by/(used for) operating activities $ 7 $ (30 ) $ 83 $ (211 ) $ (100 ) $ (251 ) Cash flows from investing activities Capital expenditures (102 ) (396 ) (498 ) Beneficial interest in transferred receivables 1,010 1,010 Proceeds from sale of property, plant and equipment 1 7 8 Intercompany investing activities 235 300 (535 ) — Other (20 ) (4 ) (24 ) Net cash provided by/(used for) investing activities 235 — 179 617 (535 ) 496 Cash flows from financing activities Proceeds from long-term debt 750 9 295 1,054 Payments of long-term debt (1,015 ) (7 ) (115 ) (1,137 ) Net change in revolving credit facility and short-term debt 95 95 Net change in long-term intercompany balances 88 263 (261 ) (90 ) — Debt issuance costs (15 ) (1 ) (16 ) Common stock issued 9 9 Common stock repurchased (339 ) (339 ) Dividends paid (635 ) 635 — Dividends paid to noncontrolling interests (93 ) (93 ) Foreign exchange derivatives related to debt 27 27 Net cash provided by/(used for) financing activities (242 ) (17 ) (259 ) (517 ) 635 (400 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 14 14 Net change in cash, cash equivalents, and restricted cash — (47 ) 3 (97 ) — (141 ) Cash, cash equivalents, and restricted cash at January 1 83 493 576 Cash, cash equivalents, and restricted cash at December 31 $ — $ 36 $ 3 $ 396 $ — $ 435 |