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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net sales $ 952 $ 1,087 $ 1,861 $ 2,166
Cost of sales 854 925 1,656 1,848
Gross profit 98 162 205 318
Selling, general and administrative expense 82 76 166 158
Gain (Loss) on Disposition of Business (240) 0 (240) 0
Business realignment costs 42 5 45 8
Other operating expense (income), net (4) 2 (1) 10
Operating income 218 79 235 142
Interest expense, net 80 84 159 161
Gain on extinguishment of debt 21 0 (44) 0
Other non-operating (income) expense, net (3) 2 (1) (1)
Income (loss) before income tax and earnings from unconsolidated entities 162 (7) 121 (18)
Income tax expense 17 1 24 27
Income (loss) before earnings from unconsolidated entities 145 (8) 97 (45)
Earnings from unconsolidated entities, net of taxes 5 6 9 9
Net income (loss) $ 150 $ (2) $ 106 $ (36)