CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Income Statement [Abstract] | ||||
| Net sales (Note 3) | $ 1,884 | $ 1,939 | $ 3,647 | $ 3,735 |
| Costs of sales | 1,559 | 1,535 | 2,987 | 2,976 |
| Gross margin | 325 | 404 | 660 | 759 |
| Selling expenses | 23 | 22 | 46 | 44 |
| General and administrative expenses | 114 | 116 | 233 | 236 |
| Other operating costs (income), net (Note 13) | 10 | (4) | 24 | 13 |
| Operating income | 178 | 270 | 357 | 466 |
| Non-operating pension and other post-employment benefit costs (Note 6) | (19) | (10) | (38) | (21) |
| Interest income and other | 6 | 13 | 11 | 29 |
| Interest expense, net of capitalized interest | (66) | (67) | (132) | (134) |
| Earnings before income taxes | 99 | 206 | 198 | 340 |
| Income taxes (Note 14) | (12) | (33) | (28) | (53) |
| Net earnings | $ 87 | $ 173 | $ 170 | $ 287 |
| Earnings per share, basic (Note 4) | $ 0.12 | $ 0.24 | $ 0.23 | $ 0.39 |
| Earnings per share, diluted (Note 4) | $ 0.12 | $ 0.24 | $ 0.23 | $ 0.39 |
| Weighted average shares outstanding (in thousands) (Note 4): | ||||
| Basic | 723,682 | 729,026 | 724,906 | 729,534 |
| Diluted | 723,927 | 729,341 | 725,239 | 729,950 |
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Interest and other income loss. No definition available.
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- Definition Non-Operating pension and other postretirement benefit (costs) credits. No definition available.
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