皇冠控股 2025年度报告

FORM 10-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ___ to ___ COMMISSION FILE NUMBER 001-41550 CROWN HOLDINGS, INC. (Exact name of registrant as specified in its charter) SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE(Title of Class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2)has been subject to such filings requirements for the past90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§ 232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of Regulation S-K is not contained herein, and will not be contained, to the best ofregistrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.☒ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act Large Accelerated Filer☒Non-accelerated filer☐ Acceleratedfiler☐Smallerreportingcompany☐Emerging growth company☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.Yes☒No☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. Yes☐No☒ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Yes☐No☒ As of June30, 2025, 116,393,989 shares of the Registrant’s Common Stock, excluding shares held in Treasury, were issued and outstanding, and the aggregate marketvalue of such shares held by non-affiliates of the Registrant on such date was $11,923,400,233 based on the New York Stock Exchange closing price for such shares onthat date. As of February26, 2026, 113,225,669 shares of the Registrant’s Common Stock were issued and outstanding. DOCUMENTS INCORPORATED BY REFERENCEDocument Parts Into Which IncorporatedPart III to the extent described therein Proxy Statement for the Annual Meeting of Shareholders to be held April 30, 2026 2025 FORM 10-K ANNUAL REPORTTABLE OF CONTENTSPART I ITEM 1. BusinessITEM 1A. Risk FactorsITEM 1B. Unresolved Staff CommentsITEM 1C. CybersecurityITEM 2. PropertiesITEM 3. Legal ProceedingsITEM 4. Mine Safety Disclosures PART IIITEM 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecuritiesITEM 6. [Reserved]ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsITEM 7A. Quantitative and Qualitative Disclosures About Market RiskITEM 8. Financial Statements and Supplementary DataManagement’s Report on Internal Control Over Financial ReportingReport of Independent Registered Public Accounting FirmConsolidated Statements of OperationsConsolidated Statements of Comprehensive IncomeConsolidated Balance SheetsConsolidated Statements of Cash FlowsConsolidated Statements of Changes in Shareholders’ EquityNotes to Consolidated Financial StatementsA. Summary of Significant Accounting PoliciesB. Acquisitions and DivestituresC. Cash, Cash Equivalents, and Restricted CashD. ReceivablesE. InventoriesF. GoodwillG. Intangible AssetsH. Property, Plant, and EquipmentI. LeasesJ. Other Non-Current AssetsK. Accrued LiabilitiesL. Supplier Finance Program ObligationsM. Restru