0001219601false00012196012024-07-222024-07-220001219601exch:XNYS2024-07-222024-07-220001219601exch:XNYScck:SevenAnd38DebenturesDue2026Member2024-07-222024-07-220001219601exch:XNYScck:SevenAnd12DebenturesDue2096Member2024-07-222024-07-22

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
____________
 
FORM 8-K
____________
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported): July 22, 2024
 
CROWN HOLDINGS, INC.
 (Exact name of Registrant as specified in its charter)
Pennsylvania 001-41550 75-3099507
(State or Other Jurisdiction of
Incorporation or Organization)		 (Commission
File Number)		 (I.R.S. Employer
Identification No.)
 
14025 Riveredge Drive, Suite 300
Tampa, Florida 33637
(215) 698-5100
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal Executive Offices)
 
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12) 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   





 
Title of each classTrading SymbolsName of each exchange on which registered
Common Stock $5.00 Par ValueCCKNew York Stock Exchange
7 3/8% Debentures Due 2026CCK26New York Stock Exchange
7 1/2% Debentures Due 2096CCK96New York Stock Exchange




TABLE OF CONTENTS


Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS

SIGNATURE

INDEX TO EXHIBITS

EX-99 PRESS RELEASE

























2



Item 2.02. Results of Operations and Financial Condition
On July 22, 2024 Crown Holdings, Inc. issued a press release announcing its earnings for the second quarter ended June 30, 2024. A copy of the press release is attached hereto as Exhibit 99 and incorporated herein by reference.

The information in this Report shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") or otherwise subject to the liability of that section, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits.

The following is furnished as an exhibit to this report.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).





















3



SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CROWN HOLDINGS, INC.
By:/s/ Christy L. Kalaus
Christy L. Kalaus
Vice President and Corporate Controller



Dated: July 22, 2024



















4



News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif
CROWN HOLDINGS, INC. REPORTS SECOND QUARTER 2024 RESULTS

Tampa, FL - July 22, 2024. Crown Holdings, Inc. (NYSE: CCK) today announced its financial results for the second quarter ended June 30, 2024.

Net sales in the second quarter were $3,040 million compared to $3,109 million in the second quarter of 2023 reflecting higher global beverage can shipments offset primarily by the pass through of $94 million in lower material costs and unfavorable foreign currency of $13 million.

Income from operations was $379 million in the second quarter compared to $367 million in the second quarter of 2023. Segment income in the second quarter of 2024 was $437 million compared to $414 million in the prior year second quarter driven by improved results in global beverage operations.

Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, “The Company performed well during the quarter, led by strong results in each of the global beverage businesses. Benefitting from our broad geographic presence and strategic customer alliances, beverage segment income improved by 21% in the second quarter on a combined global basis. Beverage can shipments improved 6% globally in the second quarter, including 9% in North America. Beverage can shipments in Europe and Latin America were also strong and exceeded longer-term expectations of low-to mid-single digit volume growth.

“Cash generated in our non-beverage businesses combined with tightly managed working capital and lower capital expenditures resulted in the Company delivering cash from operating activities of $343 million and record first half year free cash flow of $178 million. Net leverage ended the quarter at 3.2 times down from 4.0 times a year earlier.

“In June, KPS Capital Partners announced the sale of European metal packaging supplier Eviosys. Crown’s 20% stake in Eviosys is included as part of the agreement with closing of the transaction anticipated later this year.

“With improved earnings, strong free cash flow, and the expected proceeds from the Eviosys sale, we now expect year-end 2024 net leverage to be below 3.0 times. Cash flow is expected to remain strong, allowing us to resume share repurchases while also continuing to delever towards our new long-term net leverage target of 2.5 times.”

Net income attributable to Crown Holdings in the second quarter was $174 million compared to $157 million in the second quarter of 2023. Reported diluted earnings per share were $1.45 in the second quarter of 2024 compared to $1.31 in 2023 and adjusted diluted earnings per share were $1.81 compared to $1.68 in 2023 reflecting higher global beverage can results.

Six Month Results
Net sales for the first six months of 2024 were $5,824 million compared to $6,083 million in the first six months of 2023, reflecting higher global beverage can shipments, offset by the pass through of $224 million in lower material costs and lower volumes in most other businesses.

Income from operations was $624 million in the first half of 2024 compared to $636 million in the first half of 2023. Segment income in the first half of 2024 was $745 million versus $734 million in the prior year period as improved results in global beverage operations offset lower volumes in most other businesses and higher corporate costs.

Net income attributable to Crown Holdings in the first six months of 2024 was $241 million compared to $259 million in the first six months of 2023. Reported diluted earnings per share were $2.01 compared to $2.16 in 2023 and adjusted diluted earnings per share were $2.83 compared to $2.88 in 2023.

Outlook
In light of first half operating results, the Company now projects full-year diluted EPS in the range of $6.00 to $6.25 compared to previous guidance of $5.80 to $6.20. Free cash flow for the year is now expected to be at least $750 million.

Third quarter adjusted earnings per share are expected to be in the range of $1.75 to $1.85.



Page 1 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif
Non-GAAP Measures
Segment income, adjusted free cash flow, adjusted net leverage ratio, adjusted net income, the adjusted effective tax rate, adjusted diluted earnings per share, net interest expense, EBITDA and adjusted EBITDA are not defined terms under U.S. generally accepted accounting principles (non-GAAP measures). Non-GAAP measures should not be considered in isolation or as a substitute for income from operations, cash flow, leverage ratio, net income, effective tax rates, diluted earnings per share or interest expense and interest income prepared in accordance with U.S. GAAP and may not be comparable to calculations of similarly titled measures by other companies.

The Company views segment income as the principal measure of the performance of its operations and adjusted free cash flow and adjusted net leverage ratio as the principal measures of its liquidity. The Company considers all of these measures in the allocation of resources. Adjusted free cash flow has certain limitations, however, including that it does not represent the residual cash flow available for discretionary expenditures since other non-discretionary expenditures, such as mandatory debt service requirements, are not deducted from the measure. The amount of mandatory versus discretionary expenditures can vary significantly between periods. The Company believes that adjusted free cash flow and adjusted net leverage ratio provide meaningful measures of liquidity and a useful basis for assessing the Company’s ability to fund its activities, including the financing of acquisitions, debt repayments, share repurchases or dividends. The Company believes that adjusted net income, segment income, the adjusted effective tax rate and adjusted diluted earnings per share are useful in evaluating the Company’s operations as these measures are adjusted for items that affect comparability between periods. Segment income, adjusted free cash flow, adjusted net leverage ratio, adjusted net income, the adjusted effective tax rate, adjusted diluted earnings per share, net interest expense, EBITDA and adjusted EBITDA are derived from the Company’s Consolidated Statements of Operations, Cash Flows and Consolidated Balance Sheets, as applicable, and reconciliations to segment income, adjusted free cash flow, adjusted net leverage ratio, adjusted net income, the adjusted effective tax rate, adjusted diluted earnings per share and adjusted EBITDA can be found within this release. Reconciliations of estimated adjusted diluted earnings per share, adjusted effective tax rate and adjusted net leverage ratio for the third quarter and full year of 2024 to estimated diluted earnings per share, the effective tax rate and income from operations on a GAAP basis are not provided in this release due to the unavailability of estimates of the following, the timing and magnitude of which the Company is unable to reliably forecast without unreasonable efforts, which are excluded from estimated adjusted diluted earnings per share and could have a significant impact on earnings per share, adjusted effective tax rates and adjusted net leverage ratios on a GAAP basis: gains or losses on the sale of businesses or other assets, restructuring and other costs, asset charges, asbestos-related charges, losses from early extinguishment of debt, pension settlement and curtailment charges, the tax and noncontrolling interest impact of the items above, and the impact of tax law changes or other tax matters.

Conference Call
The Company will hold a conference call tomorrow, July 23, 2024 at 9:00 a.m. (EDT) to discuss this news release. Forward-looking and other material information may be discussed on the conference call. The dial-in numbers for the conference call are 630-395-0194 or toll-free 888-324-8108 and the access password is “packaging.” A live webcast of the call will be made available to the public on the internet at the Company’s website, www.crowncork.com. A replay of the conference call will be available for a one-week period ending at midnight on July 30, 2024. The telephone numbers for the replay are 203-369-3998 or toll free 800-876-5258.

Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors, including the Company’s ability to continue to operate its plants, distribute its products, and maintain its supply chain; the future impact of currency translation; the continuation of performance and market trends in 2024, including consumer preference for beverage cans and global beverage can demand; the future impact of inflation, including the potential for higher interest rates and energy prices and the Company’s ability to recover raw material and other inflationary costs; future demand for food cans; the Company’s ability to deliver continuous operational improvement; future demand in the Transit Packaging segment; the timing and ultimate completion of the Eviosys sale and the Company’s ability to decrease capital expenditures and increase cash flow and to further reduce net leverage that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2023 and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

Crown Holdings, Inc., through its subsidiaries, is a worldwide leader in the design, manufacture and sale of packaging products for consumer goods and industrial products. World headquarters are located in Tampa, Florida.

Page 2 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif
For more information, contact:
Kevin C. Clothier, Senior Vice President and Chief Financial Officer, (215) 698-5281
Thomas T. Fischer, Vice President, Investor Relations and Corporate Affairs, (215) 552-3720

Unaudited Consolidated Statements of Operations, Balance Sheets, Statements of Cash Flows, Segment Information and Supplemental Data follow.
Page 3 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif

Consolidated Statements of Operations (Unaudited)
(in millions, except share and per share data)

Three Months Ended June 30,Six Months Ended
June 30,
2024
2023
20242023
Net sales$3,040$3,109$5,824$6,083
Cost of products sold2,3792,4634,6264,874
Depreciation and amortization115125230248
Selling and administrative expense150148304308
Restructuring and other1764017
Income from operations (1)
379367624636
Other pension and postretirement13162427
Foreign exchange5141218
Earnings before interest and taxes361337588591
Interest expense112110225212
Interest income(16)(12)(36)(21)
Income from operations before income taxes265239399400
Provision for income taxes545994101
Equity earnings (4)7(5)10
Net income207187300309
Net income attributable to noncontrolling interests33305950
Net income attributable to Crown Holdings$174$157$241$259
Earnings per share attributable to Crown Holdings common shareholders:
     Basic$1.45 $1.31 $2.02 $2.17 
     Diluted$1.45 $1.31 $2.01 $2.16 
Weighted average common shares outstanding:
     Basic119,652,273 119,385,138 119,613,319119,312,034
     Diluted119,846,707 119,641,646 119,811,187119,620,100
Actual common shares outstanding at quarter end120,867,675 120,102,654 120,867,675120,102,654


(1) Reconciliation from income from operations to segment income follows.
Page 4 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif

Consolidated Supplemental Financial Data (Unaudited)
(in millions)
Reconciliation from Income from Operations to Segment Income
The Company views segment income, as defined below, as a principal measure of performance of its operations and for the allocation of resources. Segment income is defined by the Company as income from operations adjusted to exclude intangibles amortization charges and provisions for restructuring and other.

Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Income from operations$379 $367 $624 $636 
Intangibles amortization41 41 81 81 
Restructuring and other17 6 40 17 
Segment income$437 $414 $745 $734 

Segment Information
Net SalesThree Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Americas Beverage$1,325 $1,292 $2,547 $2,553 
European Beverage560 532 1,042 1,011 
Asia Pacific290 332 569 670 
Transit Packaging550 597 1,070 1,161 
Other (1)
315 356 596 688 
     Total net sales$3,040 $3,109 $5,824 $6,083 

Segment Income
Americas Beverage$243 $211 $432 $389 
European Beverage (2)
88 69 139 108 
Asia Pacific55 38 97 74 
Transit Packaging73 89 141 167 
Other (1)
14 36 22 63 
Corporate and other unallocated items (2)
(36)(29)(86)(67)
     Total segment income$437 $414 $745 $734 

(1) Includes the Company’s food can, aerosol can and closures businesses in North America, and beverage tooling and equipment operations in the U.S. and United Kingdom.

(2) During the fourth quarter of 2023, the Company recast its segment reporting to reclassify European corporate costs that were previously included in Corporate and other unallocated items into the European Beverage segment. The change was effective December 31, 2023, and segment results for prior periods were recast to conform to the new presentation.






Page 5 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif

Consolidated Supplemental Data (Unaudited)
(in millions, except per share data)
Reconciliation from Net Income and Diluted Earnings Per Share to Adjusted Net Income and Adjusted Diluted Earnings Per Share

The following table reconciles reported net income and diluted earnings per share attributable to the Company to adjusted net income and adjusted diluted earnings per share, as used elsewhere in this release.

Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Net income/diluted earnings per share attributable to Crown Holdings, as reported $174$1.45$157$1.31$241$2.01$259$2.16
     Intangibles amortization (1)
410.34410.34810.68810.68
     Restructuring and other (2)
170.1460.05400.33170.14
     Other pension and postretirement (3)
20.0260.0520.0260.05
     Income taxes (4)
(26)(0.22)(11)(0.09)(37)(0.31)(23)(0.19)
     Equity earnings (5)
90.0820.02120.1050.04
Adjusted net income/diluted earnings per share$217$1.81$201$1.68$339$2.83$345$2.88
Effective tax rate as reported
20.4%24.7%23.6%25.3%
Adjusted effective tax rate 24.6%24.0%25.1%24.6%

Adjusted net income, adjusted diluted earnings per share and the adjusted effective tax rate are non-GAAP measures and are not meant to be considered in isolation or as a substitute for net income, diluted earnings per share and effective tax rates determined in accordance with U.S. generally accepted accounting principles. The Company believes these non-GAAP measures provide useful information to evaluate the performance of the Company’s ongoing business.

(1)In the second quarter and first six months of 2024, the Company recorded charges of $41 million ($31 million net of tax) and $81 million ($61 million net of tax) for intangibles amortization arising from prior acquisitions. In the second quarter and first six months of 2023, the Company recorded charges of $41 million ($31 million net of tax) and $81 million ($61 million net of tax) for intangibles amortization arising from prior acquisitions.

(2)In the second quarter and first six months of 2024, the Company recorded net restructuring and other charges of $17 million ($14 million net of tax) and $40 million ($36 million net of tax) primarily related to severance and other exit costs in the Company's European Beverage and Other segments. In the second quarter and first six months of 2023, the Company recorded net restructuring and other charges of $6 million ($6 million net of tax) and $17 million ($15 million net of tax) primarily related to business reorganization activities in Europe.
(3)In the second quarter of 2024, the Company recorded a one-time termination charge of $2 million ($1 million net of tax) related to business reorganization activities in the Other segment. In the second quarter of 2023, the Company recorded a one-time termination charge of $6 million ($5 million net of tax) related to business reorganization activities in Europe.

(4)The Company recorded income tax benefits of $26 million and $37 million in the second quarter and first six months of 2024 and $11 million and $23 million in the second quarter and first six months of 2023, primarily related to the items described above. In the second quarter of 2024, the Company also recorded an income tax benefit related to a valuation allowance release.

(5)In the second quarters and first six months of 2024 and 2023, the Company recorded its proportional share of intangible amortization and restructuring charges, net of tax, recorded by its European tinplate equity method investment, in the line Equity earnings.

Page 6 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif

Consolidated Balance Sheets (Condensed & Unaudited)
(in millions)
June 30,20242023
Assets
Current assets
   Cash and cash equivalents$1,414 $547 
   Receivables, net1,771 1,897 
   Inventories1,526 1,908 
   Prepaid expenses and other current assets221 260 
        Total current assets4,932 4,612 
Goodwill and intangible assets, net4,171 4,360 
Property, plant and equipment, net4,980 4,890 
Other non-current assets775 707 
        Total assets$14,858 $14,569 
Liabilities and equity
Current liabilities
   Short-term debt$94 $106 
   Current maturities of long-term debt1,367 140 
   Accounts payable and accrued liabilities3,227 3,308 
        Total current liabilities
4,688 3,554 
Long-term debt, excluding current maturities5,949 6,986 
Other non-current liabilities1,244 1,314 
Noncontrolling interests470 480 
Crown Holdings shareholders' equity2,507 2,235 
Total equity2,977 2,715 
        Total liabilities and equity
$14,858 $14,569 




Page 7 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif

Consolidated Statements of Cash Flows (Condensed & Unaudited)
(in millions)
Six months ended June 30,20242023
Cash flows from operating activities
   Net income $300 $309 
   Depreciation and amortization230 248 
   Restructuring and other40 17 
   Pension and postretirement expense35 38 
   Pension contributions(5)(4)
   Stock-based compensation20 17 
   Working capital changes and other (277)(332)
          Net cash provided by operating activities
343 293 
Cash flows from investing activities
   Capital expenditures(178)(454)
 Equity method investment distribution
56 
   Other35 20 
          Net cash used for investing activities
(143)(378)
Cash flows from financing activities
   Net change in debt 40 187 
   Dividends paid to shareholders(60)(57)
   Common stock repurchased(7)(11)
   Dividends paid to noncontrolling interests(40)(11)
   Other, net(3)(7)
          Net cash provided by\(used for) financing activities
(70)101 
Effect of exchange rate changes on cash and cash equivalents(19)(12)
Net change in cash and cash equivalents111 4 
Cash and cash equivalents at January 11,400 639 
Cash, cash equivalents and restricted cash at June 30 (1)
$1,511 $643 

(1)Cash and cash equivalents include $97 million and $96 million of restricted cash at June 30, 2024 and 2023.















Page 8 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif

Adjusted free cash flow is defined by the Company as net cash from operating activities less capital expenditures and certain other items. A reconciliation of net cash from operating activities to adjusted free cash flow for the three and six months ended June 30, 2024 and 2023 follows.


Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Net cash provided by operating activities$445 $528 $343 $293 
Interest included in investing activities (2)
13 13 
Capital expenditures(84)(221)(178)(454)
Other (3)
(24)
Adjusted free cash flow$361 $307 $178 $(172)

(2)Interest benefit of cross currency swaps included in investing activities.

(3)Includes $23 million of insurance proceeds received in the first quarter of 2023 related to a tornado at the Bowling Green plant and $1 million repayment of the contribution the Company made in 2021 to settle the U.K. defined pension plan.





































Page 9 of 10

News Release

Corporate Headquarters
14025 Riveredge Drive, Suite 300
Tampa, FL 33637
crownblacklogoa13a.gif

Consolidated Supplemental Data (Unaudited)
(in millions)


Impact of Foreign Currency Translation – Favorable/(Unfavorable) (1)

Three Months Ended June 30,Six Months Ended
June 30,
Net Sales
Segment Income
Net Sales
Segment Income
Americas Beverage
$(1)$6 $1 
European Beverage
(1)(1)5 (1)
Asia Pacific
(6)(1)(12)(2)
Transit Packaging
(5)(1)(4)
Corporate and other
(1)2 (1)
$(13)$(4)$(3)$(3)
(1)The impact of foreign currency translation represents the difference between actual current year U.S. dollar results and pro forma amounts assuming constant foreign currency exchange rates for translation in both periods. In order to compute the difference, the Company compares actual U.S. dollar results to an amount calculated by dividing the current U.S. dollar results by current year average foreign exchange rates and then multiplying those amounts by the applicable prior year average foreign exchange rates.



Reconciliation of Adjusted EBITDA and Adjusted Net Leverage Ratio
June YTD 2024June YTD 2023Full Year 2023Twelve Months
Ended
June 30, 2024		Twelve Months
Ended
June 30, 2023
Income from operations$624 $636 $1,269 $1,257 $1,162 
Add:
Intangibles amortization81 81 163 163 161 
Restructuring and other40 17 114 137 39 
Segment income745 734 1,546 1,557 1,362 
Depreciation149 167 336 318 316 
Adjusted EBITDA$894 $901 $1,882 $1,875 $1,678 
Total debt$7,474 $7,410 $7,232 
Less cash1,310 1,414 547 
Net debt $6,164 $5,996 $6,685 
Adjusted net leverage ratio3.3x3.2x4.0x
Page 10 of 10
v3.24.2
Cover
Jul. 22, 2024
Document Information [Line Items]  
Document Type 8-K
Document Period End Date Jul. 22, 2024
Entity Registrant Name CROWN HOLDINGS, INC.
Entity Incorporation, State or Country Code PA
Entity File Number 001-41550
Entity Tax Identification Number 75-3099507
Entity Address, Address Line One 14025 Riveredge Drive, Suite 300
Entity Address, City or Town Tampa
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33637
City Area Code 215
Local Phone Number 698-5100
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001219601
Amendment Flag false
New York Stock Exchange  
Document Information [Line Items]  
Title of 12(b) Security Common Stock $5.00 Par Value
Trading Symbol CCK
Security Exchange Name NYSE
7 3/8% Debentures Due 2026 | New York Stock Exchange  
Document Information [Line Items]  
Title of 12(b) Security 7 3/8% Debentures Due 2026
Trading Symbol CCK26
Security Exchange Name NYSE
7 1/2% Debentures Due 2096 | New York Stock Exchange  
Document Information [Line Items]  
Title of 12(b) Security 7 1/2% Debentures Due 2096
Trading Symbol CCK96
Security Exchange Name NYSE
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