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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net sales (Note 3) $ 1,681 $ 2,022 $ 5,416 $ 5,900
Costs of sales 1,431 1,520 4,407 4,560
Gross margin 250 502 1,009 1,340
Selling expenses 22 22 66 66
General and administrative expenses 122 107 358 316
Other operating costs, net (Note 13) 28 20 41 50
Operating income 78 353 544 908
Non-operating pension and other post-employment benefit costs (Note 6) (10) (12) (31) (33)
Interest income and other 14 24 43 54
Interest expense, net of capitalized interest (69) (72) (203) (208)
Earnings before income taxes 13 293 353 721
Income taxes (Note 14) 15 (54) (38) (101)
Net earnings $ 28 $ 239 $ 315 $ 620
Earnings per share, basic (Note 4) $ 0.04 $ 0.33 $ 0.43 $ 0.85
Earnings per share, diluted (Note 4) $ 0.04 $ 0.33 $ 0.43 $ 0.85
Weighted average shares outstanding (in thousands) (Note 4):        
Basic 727,621 731,046 728,892 732,069
Diluted 728,180 731,742 729,355 732,542