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Condensed Consolidated Income Statements (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 2,076 $ 1,380 $ 5,246 $ 4,016
Cost of revenue 1,312 856 3,285 2,505
Gross profit 764 524 1,961 1,511
Selling, general and administrative expenses 491 294 1,291 912
Research and development expenses 61 47 172 152
Restructuring and asset impairment charges 21 15 57 22
Operating income 191 168 441 425
Interest expense 14 12 35 37
U.K. pension settlement expense 0 140 0 140
Other non-operating income, net 8 1 19 2
Gain from sale of business 0 0 0 1
Income before taxes 185 17 425 251
Income tax expense 33 5 82 45
Net income $ 152 $ 12 $ 343 $ 206
Earnings per share:        
Basic (usd per share) $ 0.63 $ 0.07 $ 1.64 $ 1.14
Diluted (usd per share) $ 0.63 $ 0.07 $ 1.63 $ 1.14
Weighted average number of shares:        
Basic (in shares) 240,870 180,217 208,935 180,201
Diluted (in shares) 242,189 180,939 210,083 180,870
Revenue from products        
Revenue $ 1,720 $ 1,243 $ 4,535 $ 3,625
Cost of revenue 1,043 740 2,730 2,160
Revenue from services        
Revenue 356 137 711 391
Cost of revenue $ 269 $ 116 $ 555 $ 345