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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Net sales $ 1,775 $ 3,389 $ 3,787 $ 6,257
Cost of sales 971 1,398 2,120 2,568
Gross margin 804 1,991 1,667 3,689
Selling, general and administrative expenses 71 73 145 137
U.K. long-lived and intangible asset impairment 0 152 0 152
U.K. operations restructuring 0 10 2 10
Transaction costs 3 0 16 0
Other operating—net 3 6 (32) 8
Total other operating costs and expenses 77 241 131 307
Equity in earnings of operating affiliate 7 28 24 54
Operating earnings 734 1,778 1,560 3,436
Interest expense 36 82 76 323
Interest income (40) (8) (70) (44)
Loss on debt extinguishment 0 8 0 8
Other non-operating—net (2) 0 (5) 1
Earnings before income taxes 740 1,696 1,559 3,148
Income tax provision (benefit) 134 357 303 758
Net earnings 606 1,339 1,256 2,390
Less: Net earnings attributable to noncontrolling interest 79 174 169 342
Net earnings attributable to common stockholders $ 527 $ 1,165 $ 1,087 $ 2,048
Net earnings per share attributable to common stockholders:        
Basic (in dollars per share) $ 2.71 $ 5.59 $ 5.56 $ 9.83
Diluted (in dollars per share) $ 2.70 $ 5.58 $ 5.55 $ 9.78
Weighted average common shares outstanding:        
Basic (in shares) 194.6 208.2 195.4 208.4
Diluted (in shares) 195.0 208.9 195.9 209.4
Dividends declared per common share (in dollars per share) $ 0.40 $ 0.40 $ 0.80 $ 0.70