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Accounting and Reporting Developments (Tables)
 3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as of January 1, 2018 for the adoption of the new revenue standard was as follows:







 
As reported
 
As revised
 
December 31,
 
January 1,
 
2017
Adjustment
2018
Receivables, net
$
1,041

$
154

$
1,195

Inventories
1,385

(144
)
1,241

Prepaid and other current assets
224

26

250

Total current assets
3,074

36

3,110

Other non-current assets
832

1

833

Total assets
10,663

37

10,700

Accrued liabilities
757

17

774

Total current liabilities
3,250

17

3,267

Other non-current liabilities
685

10

695

Noncontrolling interests
322

1

323

Accumulated earnings
3,004

9

3,013

Crown Holdings shareholders' equity
601

9

610

Total equity
923

10

933

Total liabilities and equity
10,663

37

10,700

In accordance with the new revenue standard, the impact of adoption on the Company’s Consolidated Balance Sheet and Statement of Operations was as follows:
 
As reported
 
Balances
 
March 31,
Effects of
without adoption
Consolidated Balance Sheet
2018
Change
of new standard
Receivables, net
$
1,386

$
(245
)
$
1,141

Inventories
1,431

210

1,641

Prepaid and other current assets
243

(20
)
223

Total current assets
5,261

(55
)
5,206

Other non-current assets
875

2

877

Total assets
13,079

(53
)
13,026

Accrued liabilities
759

(22
)
737

Total current liabilities
2,861

(22
)
2,839

Other non-current liabilities
744

(10
)
734

Noncontrolling interests
347

(1
)
346

Accumulated earnings
3,100

(20
)
3,080

Crown Holdings shareholders' equity
765

(20
)
745

Total equity
1,112

(21
)
1,091

Total liabilities and equity
13,079

(53
)
13,026

 
As reported
 
Balances
 
March 31,
Effects of
without adoption
Statement of Operations
2018
Change
of new standard
Net Sales
$
2,197

$
(82
)
$
2,115

Cost of products sold, excluding depreciation and amortization
1,808

(69
)
1,739

Income from operations
221

(13
)
208

Income before taxes
152

(13
)
139

Provision for income taxes
39

(3
)
36

Net income
113

(10
)
103

Net income attributable to Crown Holdings
90

(10
)
80

Earnings per common share attributable to Crown Holdings:
 
 
 
Basic
$
0.67

$
(0.07
)
$
0.60

Diluted
$
0.67

$
(0.07
)
$
0.60
Schedule of Cash and Cash Equivalents
Cash, cash equivalents and restricted cash included in the Company's Consolidated Balance Sheets were as follows:

 
March 31, 2018
 
December 31, 2017
Cash and cash equivalents
$
2,201

 
$
424

Restricted cash, included in prepaid expenses and other current assets
1

 
2

Restricted cash, included in other non-current assets
9

 
9

Total cash, cash equivalents and restricted cash
$
2,211

 
$
435


 
March 31, 2017
 
December 31, 2016
Cash and cash equivalents
$
338

 
$
559

Restricted cash, included in prepaid expenses and other current assets
8

 
8

Restricted cash, included in other non-current assets
9

 
9

Total cash, cash equivalents and restricted cash
$
355

 
$
576
Schedule of Restricted Cash
Cash, cash equivalents and restricted cash included in the Company's Consolidated Balance Sheets were as follows:

 
March 31, 2018
 
December 31, 2017
Cash and cash equivalents
$
2,201

 
$
424

Restricted cash, included in prepaid expenses and other current assets
1

 
2

Restricted cash, included in other non-current assets
9

 
9

Total cash, cash equivalents and restricted cash
$
2,211

 
$
435


 
March 31, 2017
 
December 31, 2016
Cash and cash equivalents
$
338

 
$
559

Restricted cash, included in prepaid expenses and other current assets
8

 
8

Restricted cash, included in other non-current assets
9

 
9

Total cash, cash equivalents and restricted cash
$
355

 
$
576