The following presents a financial summary of the Company’s one reportable segment (dollars in millions):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Net sales |
$ |
814 |
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$ |
816 |
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$ |
1,580 |
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$ |
1,605 |
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less: |
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Cost of sales |
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412 |
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422 |
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800 |
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845 |
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Selling, general and administrative |
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102 |
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82 |
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188 |
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168 |
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Engineering — research and development |
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44 |
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49 |
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87 |
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95 |
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Other segment items (a) |
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61 |
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76 |
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118 |
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141 |
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Net income (GAAP) |
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195 |
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187 |
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387 |
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356 |
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plus: |
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Income tax expense |
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47 |
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47 |
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88 |
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82 |
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Depreciation of property, plant and equipment |
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29 |
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27 |
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57 |
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54 |
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Interest expense, net |
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22 |
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22 |
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43 |
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47 |
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Amortization of intangible assets |
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1 |
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2 |
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3 |
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7 |
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Other adjustments (b) |
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19 |
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16 |
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31 |
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44 |
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Adjusted EBITDA (Non-GAAP) |
$ |
313 |
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$ |
301 |
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$ |
609 |
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$ |
590 |
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Total assets |
$ |
5,411 |
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$ |
5,176 |
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$ |
5,411 |
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$ |
5,176 |
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(a)Represents other segment items included in Net income including Income tax expense, Interest expense, net and Other income (expense), net. (b)Represents other reconciling items between Net income and Adjusted EBITDA.
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