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Component: (Network and Table)
Network
2323301 - Disclosure - Pension and Other Postretirement Benefits (Tables)
(http://www.crowncork.com/role/PensionAndOtherPostretirementBenefitsTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001219601 (http://www.sec.gov/CIK)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Components of Pension Expense and Benefits Cost
The components of pension expense were as follows:
U.S. Plans
2016
 
2015
 
2014
Service cost
$
14

 
$
14

 
$
13

Interest cost
50

 
63

 
66

Expected return on plan assets
(91
)
 
(100
)
 
(104
)
Amortization of actuarial loss
50

 
50

 
41

Amortization of prior service cost
1

 
—

 
—

Net periodic cost
$
24

 
$
27

 
$
16

Non-U.S. Plans
2016
 
2015
 
2014
Service cost
$
21

 
$
24

 
$
23

Interest cost
101

 
127

 
154

Expected return on plan assets
(157
)
 
(172
)
 
(194
)
Amortization of actuarial loss
50

 
55

 
73

Amortization of prior service credit
(12
)
 
(13
)
 
(16
)
Net periodic cost
$
3

 
$
21

 
$
40

The components of net postretirement benefits cost are as follows:
Other Postretirement Benefits
2016
 
2015
 
2014
Service cost
$
—

 
$
1

 
$
2

Interest cost
6

 
7

 
12

Amortization of prior service credit
(41
)
 
(37
)
 
(34
)
Amortization of actuarial loss
5

 
4

 
6

Net periodic benefit credit
$
(30
)
 
$
(25
)
 
$
(14
)
  
Schedule of Projected Benefit Obligations, Accumulated Benefit Obligations, Plan Assets and Funded Status
The projected benefit obligations, accumulated benefit obligations, plan assets and funded status of the Company's U.S. and non-U.S. plans is as follows:
 
U.S. Plans
 
Non-U.S. Plans
 
2016
 
2015
 
2016
 
2015
Projected Benefit Obligations
 
 
 
 
 
 
 
Benefit obligations at January 1
$
1,501

 
$
1,601

 
$
3,493

 
$
3,750

Service cost
14

 
14

 
21

 
24

Interest cost
50

 
63

 
101

 
127

Plan participants’ contributions
—

 
—

 
3

 
3

Amendments
3

 
—

 
—

 
—

Settlements
(39
)
 
(5
)
 
—

 
—

Actuarial (gain) / loss
54

 
(69
)
 
382

 
(62
)
Acquisitions
—

 
—

 
—

 
82

Benefits paid
(101
)
 
(103
)
 
(172
)
 
(190
)
Foreign currency translation
—

 
—

 
(545
)
 
(241
)
Benefit obligations at December 31
$
1,482

 
$
1,501

 
$
3,283

 
$
3,493

Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets at January 1
$
1,190

 
$
1,300

 
$
3,169

 
$
3,410

Actual return on plan assets
65

 
(9
)
 
611

 
48

Employer contributions
41

 
7

 
62

 
72

Plan participants’ contributions
—

 
—

 
3

 
3

Settlements
(39
)
 
(5
)
 
—

 
—

Acquisitions
—

 
—

 
—

 
40

Benefits paid
(101
)
 
(103
)
 
(172
)
 
(190
)
Foreign currency translation
—

 
—

 
(521
)
 
(214
)
Fair value of plan assets at December 31
$
1,156

 
$
1,190

 
$
3,152

 
$
3,169

 
 
 
 
 
 
 
 
Funded Status
$
(326
)
 
$
(311
)
 
$
(131
)
 
$
(324
)
 
 
 
 
 
 
 
 
Accumulated benefit obligations at December 31
$
1,446

 
$
1,463

 
$
3,191

 
$
3,387

  
Information for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Non-U.S. Plans
2016
 
2015
Projected benefit obligations
$
224

 
$
3,346

Accumulated benefit obligations
200

 
3,241

Fair value of plan assets
85

 
3,015

Information for pension plans with accumulated benefit obligations in excess of plan assets is as follows: 

U.S. Plans
2016
 
2015
Projected benefit obligations
$
1,482

 
$
1,501

Accumulated benefit obligations
1,446

 
1,463

Fair value of plan assets
1,156

 
1,190

  
Schedule of Ranges for Asset Allocation and Summary of Defined Benefit Plan Assets and Accrued Income
The strategic ranges for asset allocation in the U.S. plan are as follows: 

U.S. equities
30
%
to
40
%
International equities
10
%
to
15
%
Fixed income
15
%
to
25
%
Balanced funds
10
%
to
20
%
Real estate
5
%
to
10
%
Private equity
5
%
to
10
%
The strategic ranges for asset allocation in the U.K. plan are as follows:
 
Investment grade credit
40
%
to
80
%
Equities
0
%
to
30
%
Hedge funds
0
%
to
10
%
Real estate
0
%
to
5
%
Private equity
0
%
to
15
%
Emerging market wealth
0
%
to
15
%
Alternative credit
0
%
to
15
%
Other
0
%
to
5
%
The levels assigned to the defined benefit plan assets as of December 31, 2016 and 2015 are summarized in the tables below: 
 
 
2016
 
 
U.S. plan
assets
 
Non-U.S. plan
assets
 
Total
Level 1
 
 
 
 
 
 
Cash and cash equivalents
 
$
15

 
$
83

 
$
98

Global large cap equity
 
—

 
14

 
14

U.S. large cap equity
 
60

 
6

 
66

Global mid/small cap equity
 
—

 
5

 
5

U.S. mid/small cap equity
 
238

 
24

 
262

Mutual funds – global equity
 
149

 
2

 
151

Mutual funds – U.S. equity
 
214

 
—

 
214

Mutual funds – fixed income
 
92

 
—

 
92

 
 
768

 
134

 
902

Level 2
 
 
 
 
 
 
Government issued debt securities
 
49

 
514

 
563

Corporate debt securities
 
75

 
61

 
136

Asset backed securities
 
11

 
2

 
13

Structured debt
 
—

 
695

 
695

Insurance contracts
 
—

 
16

 
16

Derivatives
 
—

 
98

 
98

Investment funds – fixed income
 
2

 
496

 
498

Investment funds – global equity
 
—

 
82

 
82

Investment funds – emerging markets
 
—

 
—

 
—

 
 
137

 
1,964

 
2,101

Level 3
 
 
 
 
 
 
Investment funds – real estate
 
85

 
47

 
132

Hedge funds
 
—

 
207

 
207

Private equity
 
22

 
193

 
215

Real estate – direct
 
17

 
5

 
22

 
 
124

 
452

 
576

 
 
 
 
 
 
 
Total assets in fair value hierarchy
 
1,029

 
2,550

 
3,579

 
 
 
 
 
 
 
Investments measured at NAV Practical Expedient (a)
 
 
 
 
 
 
Investment funds – fixed income
 
77

 
110

 
187

Investment funds – global equity
 
26

 
243

 
269

Investment funds – emerging markets
 
23

 
—

 
23

Hedge funds
 
—

 
186

 
186

Investment funds – real estate
 
—

 
57

 
57

 

126

 
596

 
722

Total investments at fair value

$
1,155

 
$
3,146

 
$
4,301

 
 
 
2015
 
 
U.S. plan
assets
 
Non-U.S. plan
assets
 
Total
Level 1
 
 
 
 
 
 
Cash and cash equivalents
 
$
40

 
$
132

 
$
172

U.S. large cap equity
 
62

 
7

 
69

U.S. mid/small cap equity
 
231

 
18

 
249

Mutual funds – global equity
 
164

 
2

 
166

Mutual funds – U.S. equity
 
194

 
—

 
194

Mutual funds – fixed income
 
134

 
—

 
134

 
 
825

 
159

 
984

Level 2
 
 
 
 
 
 
Government issued debt securities
 
43

 
381

 
424

Corporate debt securities
 
71

 
86

 
157

Asset backed securities
 
15

 
4

 
19

Structured debt
 
—

 
697

 
697

Insurance contracts
 
—

 
17

 
17

Derivatives
 
—

 
84

 
84

Investment funds – fixed income
 
2

 
470

 
472

Investment funds – global equity
 
—

 
70

 
70

Investment funds – emerging markets
 
—

 
46

 
46

 
 
131

 
1,855

 
1,986

Level 3
 
 
 
 
 
 
Investment funds – real estate
 
74

 
42

 
116

Hedge funds
 
2

 
223

 
225

Private equity
 
26

 
255

 
281

Real estate – direct
 
16

 
4

 
20

 
 
118

 
524

 
642

 
 
 
 
 
 
 
Total assets in fair value hierarchy
 
1,074

 
2,538

 
3,612

 
 
 
 
 
 
 
Investments measured at NAV Practical Expedient (a)
 
 
 
 
 
 
Investment funds – fixed income
 
69

 
115

 
184

Investment funds – global equity
 
25

 
266

 
291

Investment funds – emerging markets
 
21

 
—

 
21

Hedge funds
 
—

 
189

 
189

Investment funds – real estate
 
—

 
54

 
54

 
 
115

 
624

 
739

Total investments at fair value
 
$
1,189

 
$
3,162

 
$
4,351


(a) In accordance with ASU No. 2015-07, certain investments that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy.

Accrued income excluded from the tables above is as follows:
 
2016
 
2015
U.S. plan assets
$
1

 
$
1

Non-U.S. plan assets
6

 
7

  
Reconciliation of Plan Assets Using Level 3
The following tables reconcile the beginning and ending balances of plan assets measured using significant unobservable inputs (Level 3).
 
 
Hedge
funds
 
Private
equity
 
Real
estate
 
Total
Balance at January 1, 2015
 
$
252

 
$
333

 
$
110

 
$
695

Foreign currency translation
 
(11
)
 
(16
)
 
(4
)
 
(31
)
Asset returns – assets held at reporting date
 
(7
)
 
(17
)
 
11

 
(13
)
Asset returns – assets sold during the period
 
17

 
54

 
—

 
71

Purchases, sales and settlements, net
 
(26
)
 
(73
)
 
19

 
(80
)
Balance at December 31, 2015
 
225

 
281

 
136

 
642

Foreign currency translation
 
(37
)
 
(42
)
 
(4
)
 
(83
)
Asset returns – assets held at reporting date
 
24

 
2

 
10

 
36

Asset returns – assets sold during the period
 
1

 
36

 
—

 
37

Purchases, sales and settlements, net
 
(6
)
 
(62
)
 
12

 
(56
)
Balance at December 31, 2016
 
$
207

 
$
215

 
$
154

 
$
576

  
Additional Information About Pension Plan Assets Valued Using Net Asset Value
The following table presents additional information about the pension plan assets valued using net asset value as a practical expedient:
 
Fair Value
Redemption Frequency
Redemption Notice Period
Balance at December 31, 2016
 
 
 
Investment funds – fixed income
$
187

Daily
1 - 15 days
Investment funds – global equity
269

Monthly
1 - 30 days
Investment funds – emerging markets
23

Daily
30 days
Hedge funds
186

Monthly
5 - 45 days
Investment funds – real estate
57

Weekly
2 days
 
 
 
 
Balance at December 31, 2015
 
 
 
Investment funds – fixed income
$
184

Daily
1 - 15 days
Investment funds – global equity
291

Monthly
1 - 30 days
Investment funds – emerging markets
21

Daily
30 days
Hedge funds
189

Monthly
5 - 45 days
Investment funds – real estate
54

Weekly
2 days
  
Schedule of Pension Assets and Liabilities
Pension assets and liabilities included in the Consolidated Balance Sheets are: 
 
 
2016
 
2015
Non-current assets
 
$
14

 
$
8

Current liabilities
 
8

 
39

Non-current liabilities
 
469

 
609

  
Schedule of Changes in Net Loss and Prior Service Cost/(Credit)
Changes in the net loss and prior service credit for the Company’s pension plans were: 
 
 
2016
 
2015
 
2014
 
 
Net loss
 
Prior
service
 
Net
loss
 
Prior
service
 
Net
loss
 
Prior
service
Balance at January 1
 
$
2,320

 
$
(54
)
 
$
2,423

 
$
(71
)
 
$
2,466

 
$
(94
)
Reclassification to net periodic benefit cost
 
(114
)
 
11

 
(105
)
 
13

 
(120
)
 
16

Current year loss/(gain)
 
13

 
—

 
95

 
—

 
174

 
—

Amendments
 
—

 
3

 
—

 
—

 
—

 
3

Foreign currency translation
 
(187
)
 
8

 
(93
)
 
4

 
(97
)
 
4

Balance at December 31
 
$
2,032

 
$
(32
)
 
$
2,320

 
$
(54
)
 
$
2,423

 
$
(71
)
Changes in the net loss and prior service credit for the Company’s postretirement benefit plans were: 
 
 
2016
 
2015
 
2014
 
 
Net
loss
 
Prior
service
 
Net
loss
 
Prior
service
 
Net
loss
 
Prior
service
Balance at January 1
 
$
47

 
$
(225
)
 
$
69

 
$
(211
)
 
$
97

 
$
(246
)
Reclassification to net periodic benefit cost
 
(5
)
 
41

 
(4
)
 
37

 
(6
)
 
34

Current year loss
 
7

 
—

 
(18
)
 
—

 
(24
)
 
—

Amendments
 
—

 
—

 
—

 
(51
)
 
—

 
—

Foreign currency translation
 
—

 
2

 
—

 
—

 
2

 
1

Balance at December 31
 
$
49

 
$
(182
)
 
$
47

 
$
(225
)
 
$
69

 
$
(211
)
  
Schedule of Expected Future Benefit Payments
Expected future benefit payments, as of December 31, 2016, net of expected Medicare Part D subsidies of $4 in the aggregate are:
 
Benefit Payments
2017
$
16

2018
15

2019
14

2020
14

2021
13

2022 - 2026
58

Expected future benefit payments as of December 31, 2016 are: 
 
U.S.
plans
 
Non-U.S.
plans
2017
$
117

 
$
146

2018
114

 
150

2019
117

 
153

2020
115

 
156

2021
108

 
156

2022 - 2026
526

 
813

  
Schedule of Benefit Obligations Weighted Average Actuarial Assumptions
The weighted average actuarial assumptions used to calculate pension expense for each year were: 
U.S. Plans
 
2016
 
2015
 
2014
Discount rate - service cost
 
4.9
%
 
4.0
%
 
4.8
%
Discount rate - interest cost
 
3.5
%
 
4.0
%
 
4.8
%
Compensation increase
 
4.6
%
 
4.6
%
 
3.0
%
Long-term rate of return
 
8.0
%
 
8.0
%
 
8.0
%
 
Non-U.S. Plans
 
2016
 
2015
 
2014
Discount rate - service cost
 
3.9
%
 
3.4
%
 
4.4
%
Discount rate - interest cost
 
3.2
%
 
3.4
%
 
4.4
%
Compensation increase
 
2.9
%
 
2.7
%
 
3.2
%
Long-term rate of return
 
5.4
%
 
5.2
%
 
6.4
%
The weighted average actuarial assumptions used to calculate the benefit obligations at December 31 are: 
U.S. Plans
 
2016
 
2015
 
2014
Discount rate
 
4.2
%
 
4.4
%
 
4.0
%
Compensation increase
 
4.6
%
 
4.6
%
 
4.6
%
 
Non-U.S. Plans
 
2016
 
2015
 
2014
Discount rate
 
2.7
%
 
3.7
%
 
3.4
%
Compensation increase
 
3.3
%
 
2.9
%
 
2.7
%
  
Schedule of Changes in Benefit Obligations
Changes in the benefit obligations were:
 
 
2016
 
2015
Benefit obligations at January 1
 
$
171

 
$
241

Service cost
 
—

 
1

Interest cost
 
6

 
7

Amendments
 
—

 
(52
)
Actuarial loss / (gain)
 
7

 
(19
)
Acquisitions
 
—

 
20

Curtailment
 
—

 
(3
)
Benefits paid
 
(15
)
 
(17
)
Foreign currency translation
 
(2
)
 
(7
)
Benefit obligations at December 31
 
$
167

 
$
171

  
Schedule of Assumed Health Care Cost Trend Rates
The assumed health care cost trend rates at December 31, 2016 are as follows: 
Health care cost trend rate assumed for 2017
4.0
%
Rate that the cost trend rate gradually declines to
3.1
%
Year that the rate reaches the rate it is assumed to remain
2035

  
Schedule of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage-point change in assumed health care cost trend rates would have the following effects: 
 
 
One percentage point
 
 
Increase
 
Decrease
Effect on total service and interest cost
 
$
1

 
$
1

Effect on postretirement benefit obligation
 
$
8

 
$
7

  
Schedule of Weighted Average Discount Rates Used in Benefit Obligations Calculation
Weighted average discount rates used to calculate the benefit obligations at the end of each year and the cost for each year are presented below. 
 
2016
 
2015
 
2014
Benefit obligations
4.0
%
 
3.9
%
 
4.0
%
Service cost
4.9
%
 
4.0
%
 
4.8
%
Interest cost
3.6
%
 
4.0
%
 
4.8
%