v3.26.3
Consolidated Statement of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Net sales $ 2,038 $ 1,917 $ 5,916 $ 5,633
Costs and expenses        
Cost of sales 1,837 1,751 5,336 5,211
Selling, general and administrative expenses 97 87 303 291
Amortization of intangibles 1 2 4 6
Restructuring charges, net 5 4 20 17
Other income (expense), net (6) (20) (66) (31)
Earnings from continuing operations before interest and income taxes 92 53 187 77
Loss on extinguishment of debt (24)   (31)  
Interest income 4 3 14 8
Interest expense 20 47 63 130
Earnings (loss) from continuing operations before income taxes 52 9 107 (45)
Income tax expense (benefit) 64 (2) 132 (2)
Equity in earnings of affiliates 2 2 11 27
Net income (loss) from continuing operations (10) 13 (14) (16)
Net income from discontinued operations 29 74 1,124 164
Net income (loss) 19 87 1,110 148
Less: Noncontrolling interests net income from continuing operations 4 4 13 13
Net income attributable to the parent company $ 15 $ 83 $ 1,097 $ 135
Net income (loss) per share available to common stockholders        
Basic earnings (loss) per share from continuing operations (in dollars per share) $ (0.13) $ 0.07 $ (0.25) $ (0.21)
Basic earnings per share from discontinued operations (in dollars per share) 0.27 0.58 10.43 1.18
Basic earnings per share (in dollars per share) 0.14 0.65 10.18 0.97
Diluted earnings (loss) per share from continuing operations (in dollars per share) (0.13) 0.07 (0.25) (0.21)
Diluted earnings per share from discontinued operations (in dollars per share) 0.27 0.57 10.43 1.18
Diluted earnings per share (in dollars per share) $ 0.14 $ 0.64 $ 10.18 $ 0.97
Weighted-average common shares outstanding        
Basic (in shares) 105.5 128.4 107.8 139.2
Diluted (in shares) 105.5 130.8 107.8 139.2