Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets described below (in years). The Company periodically reviews the estimated useful lives of its PP&E and, where appropriate, changes are made prospectively.



Land improvements	25
Buildings and Building Improvements	25 – 40
Machinery and Equipment	3 – 18



	2016			2015
Buildings and improvements	$	1,001		$	1,009
Machinery and equipment	4,628			4,667
Land and improvements	168			180
Construction in progress	406			229
	6,203			6,085
Less: accumulated depreciation and amortization	(3,383		)	(3,386		)
	$	2,820		$	2,699

Schedule of Effects of Revision on the Company's Consolidated Balance Sheets and Statements of Operations

The effects of the revision on the Company’s Consolidated Balance Sheets were as follows:



	December 31, 2015
	As Reported	Adjustment		As Revised
Other non-current assets	692	30		722
Total assets	10,020	30		10,050
Other non-current liabilities	655	80		735
Accumulated earnings	2,175	(50	)	2,125
Crown Holdings shareholders' equity	144	(50	)	94
Total equity	435	(50	)	385
Total liabilities and equity	10,020	30		10,050

The effects of the revision on the Company's Consolidated Statements of Operations were as follows:



	December 31, 2014
	As Reported		Adjustment			As Revised
Provision for asbestos	45		(5		)	40
Income from operations	810		5			815
Income before income taxes	516		5			521
Provision for income taxes	41		2			43
Net income	475		3			478
Net income attributable to Crown Holdings	387		3			390
Earnings per share attributable to Crown Holdings
Basic	$	2.82	$	0.02		$	2.84
Diluted	$	2.79	$	0.03		$	2.82