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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Net sales $ 2,706 $ 2,555 $ 7,998 $ 7,774
Type of Revenue [Extensible List] us-gaap:ProductMember us-gaap:ProductMember us-gaap:ProductMember us-gaap:ProductMember
Cost of sales [1] $ (2,184) $ (2,095) $ (6,496) $ (6,398)
Type of Cost, Good or Service [Extensible List] us-gaap:ProductMember us-gaap:ProductMember us-gaap:ProductMember us-gaap:ProductMember
Gross profit $ 522 $ 459 $ 1,502 $ 1,377
Selling, general and administrative expenses (137) (129) (427) (399)
Research, development and engineering expenses, net (117) (96) (319) (325)
Other income (expense), net [2] (1) (9) 13 (27)
Operating income 267 226 769 626
Income from equity method investment 2 2 4 5
Interest income 3 3 7 10
Interest expense (25) (27) (77) (81)
Other non-operating items, net (7) (7) (10) (7)
Income before income taxes 240 197 693 554
Income tax expense (65) (58) (183) (149)
Net income [3] 175 139 510 404
Less: Net income attributable to non-controlling interest 0 0 1 1
Net income attributable to controlling interest $ 175 $ 138 $ 509 $ 403
Net earnings per share - basic $ 2.29 $ 1.75 $ 6.61 $ 4.99
Net earnings per share - diluted $ 2.28 $ 1.74 $ 6.59 $ 4.98
Weighted average number of shares outstanding, net of treasury shares (in millions) 76.4 79.2 77.0 80.7
Weighted average number of shares outstanding, assuming dilution and net of treasury shares (in millions) 76.7 79.3 77.3 80.9
Cash dividend per share - declared [4] $ 0 $ 0.68 $ 2.25 $ 2.04
Cash dividend per share – paid $ 0.85 $ 0.68 $ 2.25 $ 2.04
[1] Including a gain on sale of property in China of $6 million in the first quarter of 2025. Including a supplier compensation of $13 million in the third quarter of 2025.
[2] Including a cumulative translation gain of $11 million related to the sale of the Russian entity in the first quarter of 2025.
[3] For the three months periods ended September 30, 2025 and 2024, the aggregate transaction gain (loss) included in net income for the period was a loss of $7 million and a loss of $5 million, respectively. For the nine months periods ended September 30, 2025 and 2024, the aggregate transaction gain (loss) included in net income for the period was a loss of $21 million and a loss of $7 million, respectively.
[4] In May 2025, the Company declared a dividend per share of $0.70 for the second quarter of 2025, and in June 2025, the Company declared a dividend per share of $0.85 for the third quarter of 2025.