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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Net sales $ 1,643 $ 1,865
Costs of sales 1,322 1,348
Gross margin 321 517
Selling expenses 21 23
General and administrative expenses 89 78
Research and development expenses 1 2
Other operating costs, net (Note 15) 36 10
Operating income 174 404
Non-operating pension and other postretirement benefit costs (470) (24)
Interest income and other 10 12
Interest expense, net of capitalized interest (107) (93)
Earnings (loss) before income taxes (393) 299
Income taxes (Note 18) 104 (30)
Net earnings (loss) $ (289) $ 269
Earnings (loss) per share, basic and diluted (Note 5) $ (0.39) $ 0.35
Weighted average shares outstanding (in thousands) (Note 5):    
Basic 746,603 756,815
Diluted 746,603 759,462