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v3.25.3

Debt | 9 Months Ended
--- | ---
Sep. 30, 2025
Debt Disclosure [Abstract] |
Debt | Debt
| September 30, 2025 |  | December 31, 2024
| Principal |  | Carrying |  | Principal |  | Carrying
| outstanding |  | amount |  | outstanding |  | amount
Short-term debt | $ | 142 |  |  | $ | 142 |  |  | $ | 66 |  |  | $ | 66 |
Long-term debt |  |  |  |  |  |  |
Senior secured borrowings: |  |  |  |  |  |  |
Revolving credit facilities | — |  | — |  | — |  |  | — |
Term loan facilities |  |  |  |  |  |  |
U.S. dollar due 2027 | 1,175 |  | 1,173 |  | 1,175 |  | 1,171
Euro due 2027 1 | 586 |  | 586 |  | 538 |  | 538
Senior notes and debentures: |  |  |  |  |  |  |
U.S. dollar at 4.25% due 2026 | 400 |  | 399 |  | 400 |  | 399
U.S. dollar at 4.75% due 2026 | — |  | — |  | 875 |  | 873
U.S. dollar at 7.375% due 2026 | 350 |  | 350 |  | 350 |  | 350
€500 at 2.875% due 2026 | 587 |  | 586 |  | 518 |  | 517
€500 at 5.00% due 2028 | 587 |  | 582 |  | 518 |  | 513
€500 at 4.75% due 2029 | 587 |  | 582 |  | 518 |  | 513
€600 at 4.50% due 2030 | 704 |  | 696 |  | 621 |  | 611
U.S. dollar at 5.25% due 2030 | 500 |  | 496 |  | 500 |  | 495
U.S. dollar at 5.875% due 2033 | 700 |  | 690 |  | — |  |  | — |
U.S. dollar at 7.50% due 2096 | 40 |  | 40 |  | 40 |  | 40
Other indebtedness in various currencies | 67 |  | 67 |  | 118 |  | 118
Total long-term debt | 6,283 |  |  | 6,247 |  |  | 6,171 |  |  | 6,138 |
Less current maturities | (472) |  |  | (472) |  |  | (80) |  |  | (80) |
Total long-term debt, less current maturities | $ | 5,811 |  |  | $ | 5,775 |  |  | $ | 6,091 |  |  | $ | 6,058 |
(1) €500 and €520 at September 30, 2025 and December 31, 2024 In May 2025, the Company issued $700 principal amount of 5.875% senior unsecured notes due 2033 issued at par by its subsidiary Crown Americas LLC and used the proceeds, together with cash on hand, to redeem the $875 principal amount of 4.75% senior unsecured notes due February 2026. The Company paid $10 in issuance costs that will be amortized over the term of the notes. In October 2025, the Company issued €500 principal amount of 3.75% senior unsecured notes due 2031 issued at par by its subsidiary Crown European Holdings S.A. and used the proceeds, together with cash on hand, to redeem the €500 principal amount of 2.875% senior unsecured notes due February 2026. The estimated fair value of the Company’s debt, using a market approach incorporating Level 2 inputs such as quoted market prices for the same or similar issues, was $6,500 at September 30, 2025 and $6,255 at December 31, 2024. The U.S. dollar term loan interest rate was SOFR plus 1.10% and the Euro term loan interest rate was EURIBOR plus 1.00% at September 30, 2025 and at December 31, 2024.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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