The following presents a financial summary of the Company’s one reportable segment (dollars in millions):
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Three Months Ended
September 30, |
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Nine Months Ended
September 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 |
$ |
693 |
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$ |
824 |
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$ |
2,273 |
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$ |
2,429 |
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less: |
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Cost of sales |
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364 |
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428 |
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1,164 |
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1,273 |
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Selling, general and administrative |
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82 |
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85 |
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270 |
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253 |
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Engineering — research and development |
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43 |
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51 |
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130 |
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146 |
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Other segment items (a) |
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67 |
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60 |
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185 |
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201 |
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Net income (GAAP) |
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137 |
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200 |
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524 |
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556 |
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plus: |
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Income tax expense |
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45 |
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49 |
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133 |
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131 |
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Depreciation of property, plant and equipment |
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30 |
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28 |
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87 |
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82 |
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Interest expense, net |
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24 |
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21 |
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67 |
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68 |
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Amortization of intangible assets |
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2 |
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1 |
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5 |
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8 |
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Other adjustments (b) |
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18 |
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6 |
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49 |
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50 |
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Adjusted EBITDA (Non-GAAP) |
$ |
256 |
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$ |
305 |
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$ |
865 |
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$ |
895 |
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Total assets |
$ |
5,517 |
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$ |
5,368 |
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$ |
5,517 |
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$ |
5,368 |
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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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