v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Net sales $ 1,890 $ 1,572 $ 3,553 $ 3,042
Cost of sales 1,135 893 2,226 1,954
Gross margin 755 679 1,327 1,088
Selling, general and administrative expenses 101 76 185 164
U.K. operations restructuring 0 0 23 0
Integration costs 0 1 0 4
Other operating—net 8 (39) 22 (22)
Total other operating costs and expenses 109 38 230 146
Equity in earnings (losses) of operating affiliate 2 (3) 6 (1)
Operating earnings 648 638 1,103 941
Interest expense 36 37 73 74
Interest income (17) (28) (34) (58)
Other non-operating—net (6) 0 (8) (4)
Earnings before income taxes 635 629 1,072 929
Income tax provision 143 123 229 185
Net earnings 492 506 843 744
Less: Net earnings attributable to noncontrolling interests 106 86 145 130
Net earnings attributable to common stockholders $ 386 $ 420 $ 698 $ 614
Net earnings per share attributable to common stockholders:        
Basic (in dollars per share) $ 2.37 $ 2.30 $ 4.21 $ 3.31
Diluted (in dollars per share) $ 2.37 $ 2.30 $ 4.20 $ 3.31
Weighted average common shares outstanding:        
Basic (in shares) 162.9 182.7 165.8 185.1
Diluted (in shares) 163.1 182.8 165.9 185.5
Dividends declared per common share (in dollars per share) $ 0.50 $ 0.50 $ 1.00 $ 1.00