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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net sales $ 736 $ 710 $ 2,260 $ 2,051
Cost of sales 379 382 1,161 1,092
Gross profit 357 328 1,099 959
Selling, general and administrative 86 78 265 231
Engineering — research and development 49 47 140 136
Operating income 222 203 694 592
Interest expense, net (27) (29) (83) (88)
Other (expense) income, net (2) (15) 10 (28)
Income before income taxes 193 159 621 476
Income tax expense (35) (20) (118) (86)
Net income $ 158 $ 139 $ 503 $ 390
Basic earnings per share attributable to common stockholders $ 1.76 $ 1.46 $ 5.53 $ 4.02
Diluted earnings per share attributable to common stockholders $ 1.76 $ 1.45 $ 5.53 $ 4.02
Comprehensive income, net of tax $ 151 $ 138 $ 493 $ 402