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Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net sales $ 3,035 $ 2,769 $ 2,402
Cost of sales 1,565 1,472 1,257
Gross profit 1,470 1,297 1,145
Selling, general and administrative 357 328 305
Engineering — research and development 194 185 171
Operating income 919 784 669
Interest expense, net (107) (118) (116)
Other income (expense), net 15 (21) 19
Income before income taxes 827 645 572
Income tax (expense) benefit (154) (114) (130)
Net income $ 673 $ 531 $ 442
Basic earnings per share attributable to common stockholders $ 7.48 $ 5.53 $ 4.13
Diluted earnings per share attributable to common stockholders $ 7.4 $ 5.53 $ 4.13
Other comprehensive (loss) income, net of tax:      
Pension and OPEB liability adjustment $ (7) $ 22 $ 2
Interest rate swaps (4) 39 22
Foreign currency translation 2 (10) (8)
Net current period other comprehensive income (loss) (9) 51 16
Comprehensive income, net of tax $ 664 $ 582 $ 458