v3.26.1
Condensed Consolidated Statements of 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 $ 664 $ 755 $ 1,239 $ 1,478
Cost of sales (549) (577) (1,008) (1,103)
Gross profit 116 178 231 375
Selling, general, and administrative expenses (80) (79) (158) (154)
Loss on impairment 0 (17) 0 (17)
Other operating credits and charges, net (5) (2) (7) (4)
Income from operations 31 80 66 200
Interest expense (4) (4) (8) (7)
Investment income 6 4 8 8
Other non-operating (expense) income 1 (7) 4 (12)
Income before income taxes 34 73 70 189
Provision for income taxes (8) (19) (17) (45)
Equity in unconsolidated affiliate 0 0 0 1
Net income $ 26 $ 54 $ 53 $ 145
Net income per share of common stock:        
Basic (in dollars per share) $ 0.38 $ 0.77 $ 0.76 $ 2.08
Diluted (in dollars per share) $ 0.38 $ 0.77 $ 0.76 $ 2.07
Average shares of common stock used to compute net income per share:        
Basic (in shares) 70 70 70 70
Diluted (in shares) 70 70 70 70