v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF OPERATINGS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Net sales $ 2,238 $ 1,487 $ 3,972 $ 2,716
Cost of goods sold (1,794) (1,179) (3,321) (2,160)
Gross profit 444 308 651 556
Selling, general and administrative expenses (209) (162) (451) (323)
Amortization of purchased intangibles (48) (17) (95) (35)
Operating profit 187 129 105 198
Other income (expense)        
Interest income 5 2 9 4
Interest expense (50) (44) (97) (87)
Other (expense) income – net  (3) 2 (4) 0
Income before income taxes 139 89 13 115
(Provision for) benefit from income taxes (29) (17) 4 (22)
Income from continuing operations 110 72 17 93
Income from discontinued operations – net of tax 0 0 4 0
Net income $ 110 $ 72 $ 21 $ 93
Basic earnings per share        
(Loss)income from continuing operations (in dollars per share) $ 0.97 $ 1.10 $ 0.16 $ 1.41
Income from discontinued operations – net of tax 0 0 0.04 0
Net (loss) Income (in dollars per share) 0.97 1.10 0.20 1.41
Diluted earnings per share:        
(Loss) income from continuing operations (in dollars per share) 0.96 1.09 0.16 1.40
Income from discontinued operations – net of tax 0 0 0.04 0
Net (loss) income (in dollars per share) $ 0.96 $ 1.09 $ 0.20 $ 1.40
Weighted average number of shares outstanding in per share calculation        
Basic (in shares) 113.6 65.6 104.5 66.0
Diluted (in shares) 114.2 65.9 105.4 66.5
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]        
Net income $ 110 $ 72 $ 21 $ 93
Other comprehensive income (loss) 0 74 (12) 106
Comprehensive income $ 110 $ 146 $ 9 $ 199