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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Net sales and operating revenues $ 2,274,000,000 $ 2,096,000,000 $ 6,883,000,000 $ 6,444,000,000
Costs and expenses        
Cost of sales (exclusive of depreciation and amortization shown below) 1,913,000,000 1,743,000,000 5,790,000,000 5,329,000,000
Engineering, research, and development 40,000,000 41,000,000 115,000,000 117,000,000
Selling, general, and administrative 128,000,000 109,000,000 529,000,000 390,000,000
Depreciation and amortization of other intangibles 58,000,000 53,000,000 165,000,000 159,000,000
Costs and expenses 2,139,000,000 1,946,000,000 6,599,000,000 5,995,000,000
Other expense        
Loss on sale of receivables (2,000,000) (2,000,000) (4,000,000) (4,000,000)
Other income 1,000,000 2,000,000 2,000,000 0
Total other expense (1,000,000) 0 (2,000,000) (4,000,000)
Earnings before interest expense, income taxes, and noncontrolling interests 134,000,000 150,000,000 282,000,000 445,000,000
Interest expense 19,000,000 24,000,000 54,000,000 76,000,000
Earnings before income taxes and noncontrolling interests 115,000,000 126,000,000 228,000,000 369,000,000
Income tax expense (benefit) 16,000,000 (70,000,000) 41,000,000 3,000,000
Net income 99,000,000 196,000,000 187,000,000 366,000,000
Less: Net income attributable to noncontrolling interests 16,000,000 17,000,000 48,000,000 48,000,000
Net income attributable to Tenneco Inc. $ 83,000,000 $ 179,000,000 $ 139,000,000 $ 318,000,000
Weighted average shares of common stock outstanding —        
Basic (in shares) 52,508,078 55,679,969 53,265,149 56,511,838
Diluted (in shares) 52,687,656 56,165,709 53,501,864 56,958,447
Basic earnings per share of common stock (in dollars per share) $ 1.57 $ 3.22 $ 2.61 $ 5.63
Diluted earnings per share of common stock (in dollars per share) $ 1.57 $ 3.19 $ 2.60 $ 5.58
Cash dividends declared (in dollars per share) $ 0.25 $ 0.00 $ 0.75 $ 0.00