XML 14 R2.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net sales $ 1,273 $ 2,321 $ 5,060 $ 8,578
Cost of sales 896 1,405 3,016 3,973
Gross margin 377 916 2,044 4,605
Selling, general and administrative expenses 68 66 213 203
U.K. long-lived and intangible asset impairment 0 87 0 239
U.K. operations restructuring 5 8 7 18
Transaction costs 11 0 27 0
Other operating—net 13 25 (19) 33
Total other operating costs and expenses 97 186 228 493
Equity in (losses) earnings of operating affiliate (36) 20 (12) 74
Operating earnings 244 750 1,804 4,186
Interest expense 39 46 115 369
Interest income (45) (12) (115) (56)
Loss on debt extinguishment 0 0 0 8
Other non-operating—net (3) 23 (8) 24
Earnings before income taxes 253 693 1,812 3,841
Income tax provision (benefit) 23 155 326 913
Net earnings 230 538 1,486 2,928
Less: Net earnings attributable to noncontrolling interest 66 100 235 442
Net earnings attributable to common stockholders $ 164 $ 438 $ 1,251 $ 2,486
Net earnings per share attributable to common stockholders:        
Basic (in dollars per share) $ 0.85 $ 2.19 $ 6.44 $ 12.09
Diluted (in dollars per share) $ 0.85 $ 2.18 $ 6.42 $ 12.04
Weighted average common shares outstanding:        
Basic (in shares) 192.4 200.2 194.4 205.6
Diluted (in shares) 192.9 200.9 194.9 206.5
Dividends declared per common share (in dollars per share) $ 0.40 $ 0.40 $ 1.20 $ 1.10