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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales (Note 3) $ 1,631 $ 1,692 $ 3,359 $ 3,335
Costs of sales 1,283 1,390 2,665 2,712
Gross margin 348 302 694 623
Selling expenses 18 21 40 42
General and administrative expenses 84 80 158 169
Other operating costs, net (Note 15) 3 15 13 52
Operating income 243 186 483 360
Non-operating pension and other postretirement benefit costs (Note 7) (10) (10) (19) (480)
Interest income and other 2 6 3 16
Interest expense, net of capitalized interest (103) (91) (188) (198)
Earnings (loss) before income taxes 132 91 279 (302)
Income taxes (Note 16) (60) 37 (57) 141
Net earnings (loss) $ 72 $ 128 $ 222 $ (161)
Earnings (loss) per share, basic and diluted (Note 4) $ 0.10 $ 0.17 $ 0.30 $ (0.22)
Weighted average shares outstanding (in thousands) (Note 4):        
Basic 746,896 745,486 746,715 746,041
Diluted 746,984 746,232 747,070 746,041