XML 48 R38.htm IDEA: XBRL DOCUMENT
v3.19.2

Derivative and Other Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
General Discussion of Derivative Instruments and Hedging Activities [Abstract] |
Schedule of Impact on Earnings from Derivatives Not Designated as Hedging Instruments | The following table sets forth the impact on earnings from derivatives not designated as hedges.
|  | Pre-tax amount of gain/ |  | Pre-tax amount of gain/ |  |
|  | (loss) recognized in income |  | (loss) recognized in |  |
|  | on derivative |  | income on derivative |  |
|  | Three Months Ended |  | Six Months Ended |  |
|  | June 30, |  | June 30, |  | Affected line item in the
Derivatives not designated as hedges |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | Statement of Operations
Foreign exchange |  | $ | — |  |  | $ | 3 |  |  | $ | (1 | ) |  | $ | 3 |  |  | Net sales
Foreign exchange |  | — |  |  | (3 | ) |  | 1 |  |  | (2 | ) |  | Cost of products sold
Foreign exchange |  | 4 |  |  | (14 | ) |  | (11 | ) |  | (9 | ) |  | Foreign exchange
|  | $ | 4 |  |  | $ | (14 | ) |  | $ | (11 | ) |  | $ | (8 | ) |  |
Schedule of Derivative Instruments Included in Earnings | Fair Value Hedge Carrying Amounts
|  | Carrying amount of the hedged
|  | assets/(liabilities)
|  | June 30, 2019 |  | December 31, 2018
Line item in the Balance Sheet in which the hedged item is included |  |
Receivables, net |  | 14 |  |  | 15 |
Accounts payable |  | (95 | ) |  | (13 | )
Accumulated Other Comprehensive Income (AOCI) and Earnings From Changes In Fair Value Related To Derivative Instruments | The following tables set forth the impact on OCI from changes in the fair value of derivative instruments designated as net investment hedges.
|  | Amount of gain/(loss) |  | Amount of gain/(loss)
|  | recognized in OCI |  | recognized in OCI
|  | Three months ended |  | Six months ended
|  | June 30, |  | June 30,
Derivatives designated as net investment hedges |  | 2019 |  | 2018 |  | 2019 |  | 2018
Foreign exchange |  | $ | (7 | ) |  | $ | 36 |  |  | $ | 7 |  |  | $ | 8 |
The following tables set forth financial information about the impact on other comprehensive income ("OCI"), accumulated other comprehensive income (“AOCI”) and earnings from changes in the fair value of derivative instruments.
|  | Amount of gain/(loss) |  | Amount of gain/(loss) |  |
|  | recognized in OCI |  | recognized in OCI |  |
|  | Three Months Ended |  | Six Months Ended |  |
|  | June 30, |  | June 30, |  |
Derivatives in cash flow hedges |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  |
Foreign exchange |  | $ | 2 |  |  | $ | — |  |  | $ | (2 | ) |  | $ | (3 | ) |  |
Commodities |  | (18 | ) |  | 22 |  |  | (8 | ) |  | (2 | ) |  |
|  | $ | (16 | ) |  | $ | 22 |  |  | $ | (10 | ) |  | $ | (5 | ) |  |
|  | Amount of gain/ |  | Amount of gain/ |  |
|  | (loss) reclassified from |  | (loss) reclassified from |  |
|  | AOCI into income |  | AOCI into income |  |
|  | Three Months Ended |  | Six Months Ended |  |
|  | June 30, |  | June 30, |  | Affected line items in the
Derivatives in cash flow hedges |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | Statement of Operations
Foreign exchange |  | $ | — |  |  | $ | (1 | ) |  | $ | (1 | ) |  | $ | (1 | ) |  | Net sales
Commodities |  | 3 |  |  | (3 | ) |  | 6 |  |  | (5 | ) |  | Net sales
Foreign exchange |  | (1 | ) |  | (1 | ) |  | (1 | ) |  | (1 | ) |  | Cost of products sold
Commodities |  | (11 | ) |  | 14 |  |  | (21 | ) |  | 24 |  |  | Cost of products sold
|  | (9 | ) |  | 9 |  |  | (17 | ) |  | 17 |  |  | Income before taxes
|  | 2 |  |  | (3 | ) |  | 4 |  |  | (5 | ) |  | Provision for income taxes
Total reclassified |  | $ | (7 | ) |  | $ | 6 |  |  | $ | (13 | ) |  | $ | 12 |  |  | Net income
Fair Value of Outstanding Derivative Instruments in the Consolidated Balance Sheets | The following table sets forth the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2019 and December 31, 2018, respectively. The fair values of these financial instruments were reported under Level 2 of the fair value hierarchy.
|  | Balance Sheet classification |  | June 30, 2019 |  | December 31, 2018 |  | Balance Sheet classification |  | June 30, 2019 |  | December 31, 2018
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts cash flow |  | Other current assets |  | $ | 4 |  |  | $ | 6 |  |  | Accrued liabilities |  | $ | 4 |  |  | $ | 5 |
|  | Other non-current assets |  | 1 |  |  | 3 |  |  | Other non-current liabilities |  | — |  |  | 1 |
Foreign exchange contracts fair value |  | Other current assets |  | 1 |  |  | 1 |  |  | Accrued liabilities |  | 4 |  |  | 1 |
Commodities contracts cash flow |  | Other current assets |  | 19 |  |  | 16 |  |  | Accrued liabilities |  | 41 |  |  | 42 |
|  | Other non-current assets |  | 2 |  |  | 2 |  |  | Other non-current liabilities |  | 5 |  |  | 6 |
Net investment hedge |  | Other non-current assets |  | 30 |  |  | 15 |  |  | Other non-current liabilities |  | 7 |  |  | — |
|  | $ | 57 |  |  | $ | 43 |  |  |  |  | $ | 61 |  |  | $ | 55 |
|  | Balance Sheet classification |  | June 30, 2019 |  | December 31, 2018 |  | Balance Sheet classification |  | June 30, 2019 |  | December 31, 2018
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current assets |  | $ | 10 |  |  | $ | 4 |  |  | Accrued liabilities |  | $ | 5 |  |  | $ | 4 |
|  | Other non-current assets |  | 2 |  |  | — |  |  | Other non-current liabilities |  | 1 |  |  | — |
|  | $ | 12 |  |  | $ | 4 |  |  |  |  | $ | 6 |  |  | $ | 4 |
Total derivatives |  |  |  | $ | 69 |  |  | $ | 47 |  |  |  |  | $ | 67 |  |  | $ | 59 |
Schedule of Offsetting Derivative Assets and Liabilities | In the table below, the aggregate fair values of the Company's derivative assets and liabilities are presented on both a gross and net basis, where appropriate.
| Gross amounts recognized in the Balance Sheet | Gross amounts not offset in the Balance Sheet | Net amount
Balance at June 30, 2019 |  |  |
Derivative assets | $69 | $19 | $50
Derivative liabilities | 67 | 19 | 48
Balance at December 31, 2018 |  |  |
Derivative assets | 47 | 19 | 28
Derivative liabilities | 59 | 19 | 40
Notional Values of Outstanding Derivative Instruments in the Consolidated Balance Sheet | The aggregate U.S. dollar-equivalent notional values of outstanding derivative instruments in the Consolidated Balance Sheets at June 30, 2019 and December 31, 2018 were:
| June 30, 2019 |  | December 31, 2018
Derivatives in cash flow hedges: |  |  |
Foreign exchange | $ | 568 |  |  | $ | 820 |
Commodities | 413 |  |  | 428 |
Interest rate | 200 |  |  | — |
Derivatives in fair value hedges: |  |  |
Foreign exchange | 154 |  |  | 74 |
Derivatives not designated as hedges: |  |  |
Foreign exchange | 865 |  |  | 796 |

X
- Definition Schedule of Offsetting Derivative Assets and Liabilities [Table Text Block] + References No definition available. + Details
Name: | cck_ScheduleOfOffsettingDerivativeAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | cck_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GeneralDiscussionOfDerivativeInstrumentsAndHedgingActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration