21. Financial Information for Subsidiary Guarantors and Non-Guarantors

The following presents condensed consolidating financial information for the Company, segregating: (1) Owens-Illinois, Inc., the issuer of senior debentures (the "Parent"); (2) the two subsidiaries which have guaranteed the senior debentures on a subordinated basis (the "Guarantor Subsidiaries"); and (3) all other subsidiaries (the "Non-Guarantor Subsidiaries"). The Guarantor Subsidiaries are 100% owned direct and indirect subsidiaries of the Company and their guarantees are full, unconditional and joint and several. They have no operations and function only as intermediate holding companies.

Certain reclassifications have been made to conform all of the financial information to the financial presentation on a consolidated basis. The principal eliminations relate to investments in subsidiaries and intercompany balances and transactions.

	December 31, 2014
Balance Sheet	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	—	$	512	$	—		$	512
Receivables						744					744
Inventories						1,035					1,035
Prepaid expenses						80					80

Total current assets		—		—		2,371		—			2,371
Investments in and advances to subsidiaries		1,863		1,593				(3,456	)		—
Property, plant and equipment, net						2,445					2,445
Goodwill						1,893					1,893
Other assets						1,149					1,149

Total assets	$	1,863	$	1,593	$	7,858	$	(3,456	)	$	7,858


Current liabilities:
Short-term loans and long-term debt due within one year	$	—	$	—	$	488	$	—		$	488
Current portion of asbestos liability		143									143
Accounts payable						1,137					1,137
Other liabilities		20				560		(20	)		560

Total current liabilities		163		—		2,185		(20	)		2,328
Long-term debt		250				2,972		(250	)		2,972
Asbestos-related liabilities		292									292
Other long-term liabilities						991					991
Share owners' equity		1,158		1,593		1,593		(3,186	)		1,158
Noncontrollling interest						117					117

Total liabilities and share owners' equity	$	1,863	$	1,593	$	7,858	$	(3,456	)	$	7,858

	December 31, 2013
Balance Sheet	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	—	$	383	$	—		$	383
Receivables						943					943
Inventories						1,117					1,117
Prepaid expenses						107					107

Total current assets		—		—		2,550		—			2,550
Investments in and advances to subsidiaries		2,154		1,904				(4,058	)		—
Property, plant and equipment, net						2,632					2,632
Goodwill						2,059					2,059
Other assets						1,178					1,178

Total assets	$	2,154	$	1,904	$	8,419	$	(4,058	)	$	8,419


Current liabilities:
Short-term loans and long-term debt due within one year	$	—	$	—	$	322	$	—		$	322
Current portion of asbestos liability		150									150
Accounts payable						1,144					1,144
Other liabilities						638					638

Total current liabilities		150		—		2,104		—			2,254
Long-term debt		250				3,245		(250	)		3,245
Asbestos-related liabilities		298									298
Other long-term liabilities						1,019					1,019
Share owners' equity		1,456		1,904		1,904		(3,808	)		1,456
Noncontrolling interests						147					147

Total liabilities and share owners' equity	$	2,154	$	1,904	$	8,419	$	(4,058	)	$	8,419

	Year ended December 31, 2014
Results of Operations	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	6,784		$	—		$	6,784
Cost of goods sold							(5,531	)					(5,531	)

Gross profit		—			—		1,253			—			1,253
Selling and administrative expense							(523	)					(523	)
Research, development and engineering expense							(63	)					(63	)
Net intercompany interest		20					(20	)					—
Interest expense, net		(20	)				(210	)					(230	)
Equity earnings from subsidiaries		210			210					(420	)		—
Other equity earnings							64						64
Other expense, net		(135	)				(148	)					(283	)

Earnings before income taxes		75			210		353			(420	)		218
Provision for income taxes							(92	)					(92	)

Earnings from continuing operations		75			210		261			(420	)		126
Loss from discontinued operations							(23	)					(23	)

Net earnings		75			210		238			(420	)		103
Net earnings attributable to noncontrolling interests							(28	)					(28	)

Net earnings attributable to the Company	$	75		$	210	$	210		$	(420	)	$	75

	Year ended December 31, 2014
Comprehensive Income	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	75		$	210		$	238		$	(420	)	$	103
Other comprehensive income (loss)		(394	)		(394	)		(394	)		788			(394	)

Total comprehensive income (loss)		(319	)		(184	)		(156	)		368			(291	)
Comprehensive income attributable to noncontrolling interests		21						(7	)		(21)			(7	)

Comprehensive income (loss) attributable to the Company	$	(298	)	$	(184	)	$	(163	)	$	347		$	(298	)

	Year ended December 31, 2013
Results of Operations	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	6,967		$	—		$	6,967
Cost of goods sold							(5,636	)					(5,636	)

Gross profit		—			—		1,331			—			1,331
Selling and administrative expense							(506	)					(506	)
Research, development and engineering expense							(62	)					(62	)
Net intercompany interest		20					(20	)
Interest expense, net		(20	)				(209	)					(229	)
Equity earnings from subsidiaries		329			329					(658	)
Other equity earnings							67						67
Other expense, net		(145	)				(121	)					(266	)

Earnings before income taxes		184			329		480			(658	)		335
Provision for income taxes							(120	)					(120	)

Earnings from continuing operations		184			329		360			(658	)		215
Loss from discontinued operations							(18	)					(18	)

Net earnings		184			329		342			(658	)		197
Net earnings attributable to noncontrolling interests							(13	)					(13	)

Net earnings attributable to the Company	$	184		$	329	$	329		$	(658	)	$	184

	Year ended December 31, 2013
Comprehensive Income	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	184	$	329	$	342		$	(658	)	$	197
Other comprehensive income (loss)		379		379		379			(758	)		379

Total comprehensive income (loss)		563		708		721			(1,416	)		576
Comprehensive income attributable to noncontrolling interests		6				(7	)		(6)			(7	)

Comprehensive income (loss) attributable to the Company	$	569	$	708	$	714		$	(1,422	)	$	569

	Year ended December 31, 2012
Results of Operations	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	7,000		$	—		$	7,000
Cost of goods sold							(5,626	)					(5,626	)

Gross profit		—			—		1,374			—			1,374
Selling and administrative expense							(555	)					(555	)
Research, development and engineering expense							(62	)					(62	)
Net intercompany interest		20					(20	)
Interest expense, net		(20	)				(219	)					(239	)
Equity earnings from subsidiaries		339			339					(678	)
Other equity earnings							64						64
Other expense, net		(155	)				(99	)					(254	)

Earnings before income taxes		184			339		483			(678	)		328
Provision for income taxes							(108	)					(108	)

Earnings from continuing operations		184			339		375			(678	)		220
Loss from discontinued operations							(2	)					(2	)

Net earnings		184			339		373			(678	)		218
Net earnings attributable to noncontrolling interests							(34	)					(34	)

Net earnings attributable to the Company	$	184		$	339	$	339		$	(678	)	$	184

	Year ended December 31, 2012
Comprehensive Income	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	184		$	339		$	373		$	(678	)	$	218
Other comprehensive income		(177	)		(177	)		(177	)		354			(177	)

Total comprehensive income		7			162			196			(324	)		41
Comprehensive income attributable to noncontrolling interests		(8)						(42	)		8			(42	)

Comprehensive income attributable to the Company	$	(1)		$	162		$	154		$	(316	)	$	(1	)

	Year ended December 31, 2014
Cash Flows	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash provided by (utilized in) operating activities	$	(148	)	$	—	$	823		$	—	$	675
Cash utilized in investing activities							(455	)				(455	)
Cash provided by (utilized in) financing activities		148					(218	)				(70	)
Effect of exchange rate change on cash							(21	)				(21	)

Net change in cash		—			—		129			—		129
Cash at beginning of period							383					383

Cash at end of period	$	—		$	—	$	512		$	—	$	512

	Year ended December 31, 2013
Cash Flows	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash provided by (utilized in) operating activities	$	(158	)	$	—	$	840		$	—	$	682
Cash utilized in investing activities							(402	)				(402	)
Cash provided by (utilized in) financing activities		158					(479	)				(321	)
Effect of exchange rate change on cash							(7	)				(7	)

Net change in cash		—			—		(48	)		—		(48	)
Cash at beginning of period							431					431

Cash at end of period	$	—		$	—	$	383		$	—	$	383

	Year ended December 31, 2012
Cash Flows	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash provided by (utilized in) operating activities	$	(165	)	$	—	$	740		$	—	$	575
Cash utilized in investing activities							(221	)				(221	)
Cash provided by (utilized in) financing activities		165					(504	)				(339	)
Effect of exchange rate change on cash							16					16

Net change in cash		—			—		31			—		31
Cash at beginning of period							400					400

Cash at end of period	$	—		$	—	$	431		$	—	$	431