CROWN HOLDINGS INC
For the period ended Mar 31, 2024. Filed May 6, 2024.
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Mar 31, 2024 · Filed May 6, 2024
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H. Restructuring and Other
The Company recorded restructuring and other items as follows:
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Asset sales and impairments | $3 | $2 |
| Restructuring | 19 | 9 |
| Other costs | 1 | — |
| $23 | $11 | |
For the three months ended March 31, 2024 restructuring primarily included headcount reductions and other exit costs in the Company's European Beverage segment.
For the three months ended March 31, 2023, restructuring primarily included headcount reductions in the Company's European Beverage and Other segments.
During the first quarter of 2024, the Company made payments of $12 and had a restructuring accrual of $28, primarily related to previously announced restructuring actions and the items referenced above. The Company expects to pay these amounts over the next twelve months. The Company continues to review its costs structure and may record additional restructuring charges in the future.
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