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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Net sales (Note 3) $ 1,939 $ 1,997 $ 3,735 $ 3,878
Costs of sales 1,535 1,528 2,976 3,040
Gross margin 404 469 759 838
Selling expenses 22 22 44 44
General and administrative expenses 116 108 236 209
Other operating (income) costs, net (Note 13) (4) 20 13 30
Operating income 270 319 466 555
Non-operating pension and other post-employment benefit costs (Note 6) (10) (12) (21) (21)
Interest income and other 13 18 29 30
Interest expense, net of capitalized interest (67) (70) (134) (136)
Earnings before income taxes 206 255 340 428
Income taxes (Note 14) (33) (25) (53) (47)
Net earnings $ 173 $ 230 $ 287 $ 381
Earnings per share, basic (Note 4) $ 0.24 $ 0.31 $ 0.39 $ 0.52
Earnings per share, diluted (Note 4) $ 0.24 $ 0.31 $ 0.39 $ 0.52
Weighted average shares outstanding (in thousands) (Note 4):        
Basic 729,026 732,021 729,534 732,599
Diluted 729,341 732,362 729,950 732,961