CROWN HOLDINGS, INC.
For the period ended Jun 30, 2025. Filed Jul 29, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 29, 2025
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H. Restructuring and Other
The Company recorded restructuring and other items as follows:
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| 2025 | 2024 | 2025 | 2024 | |
| Asset sales and impairments, net | $30 | $1 | $21 | $4 |
| Restructuring | 9 | 16 | 16 | 35 |
| Other costs | (3) | — | (3) | 1 |
| Asbestos | 11 | — | 11 | — |
| $47 | $17 | $45 | $40 | |
For the three and six months ended June 30, 2025, asset sales and impairments primarily included asset impairment charges related to a plant in China and end line rationalization in the Asia Pacific segment. In addition, in the first quarter of 2025 the Company recognized a gain for a sale of a building in the Transit Packaging segment.
For the three and six months ended June 30, 2025 restructuring primarily included headcount reductions and other exit costs in the Transit Packaging segment. For the three and six months ended June 30, 2024, restructuring primarily included headcount reductions and other exit costs in the Company's European Beverage and Other segments.
During the second quarter of 2025, the Company recorded an $11 asbestos reserve related to an unfavorable jury verdict in the state of California. See Note I for details.
During 2025, the Company made payments of $14 and had a restructuring accrual of $22, primarily related to previously announced restructuring actions. 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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