Divestitures

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

On August 31, 2021, the Company completed the sale (the “Transaction”) of its European Tinplate business (the “Business”) to Kouti B.V., an affiliate of KPS Capital Partners LP. The Business comprised the Company’s European Food segment and its European Aerosol and Promotional Packaging reporting unit which was previously reported in Other. The Company received pre-tax proceeds of approximately €1.9 billion ($2.3 billion) from the Transaction and received a 20% minority interest in the Business. For the year ended December 31, 2021, the Company recorded a pre-tax loss of $101 and tax charges of $81 related to taxable gains on the sale of the Business.

Major components of net (loss) / income from discontinued operations were as follows:


For the Years Ended December 31	2021		2020
Net sales	$	1,585	$	2,183
Cost of products sold, excluding depreciation and amortization	1,301		1,823
Depreciation and amortization	16		59
Selling and administrative expense	60		81
Restructuring and other	2		4
Other pension and postretirement	1		2
Interest expense	6		10
Foreign exchange	—		3
Loss on sale of discontinued businesses	101		—
Transaction costs	34		—
Income from discontinued operations before tax	64		201
Provision for income taxes	116		45
Net (loss) / income from discontinued operations	(52)		156
Net income from discontinued operations attributable to noncontrolling interests	1		1
Net (loss) / income from discontinued operations attributable to Crown Holdings	$	(53)	$	155

The Business had capital expenditures of $29 and $33 for the years ended December 31, 2021 and 2020.

The Company accounts for the minority interest received in the Business under the equity method. The Company's share of income of the Business was $34 for the year ended December 31, 2022 and a loss of $8 for the year ended December 31, 2021 and is reported in Equity in net earnings of affiliates in the Consolidated Statements of Operations. Additionally, the Company received a dividend payment from the Business of $26 in the year ended December 31, 2022.

In April 2022, the Company completed the sale of the Transit Packaging segment's Kiwiplan business and received pre-tax proceeds of $180. The Company recorded a pre-tax gain of $113 ($102, net of tax) on the sale, which is reported in Restructuring and other, net in the Consolidated Statements of Operations. The transaction did not represent a strategic shift that had a major effect on the Company's operations and financial results, and therefore did not qualify for reporting as a discontinued operation.