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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net sales $ 816 $ 783 $ 1,605 $ 1,524
Cost of sales 422 402 845 782
Gross profit 394 381 760 742
Selling, general and administrative 82 92 168 179
Engineering — research and development 49 47 95 91
Operating income 263 242 497 472
Interest expense, net (22) (28) (47) (56)
Other (expense) income, net (7) 2 (12) 12
Income before income taxes 234 216 438 428
Income tax expense (47) (41) (82) (83)
Net income $ 187 $ 175 $ 356 $ 345
Basic earnings per share attributable to common stockholders $ 2.15 $ 1.94 $ 4.05 $ 3.79
Diluted earnings per share attributable to common stockholders $ 2.13 $ 1.92 $ 4.05 $ 3.75
Comprehensive income, net of tax $ 187 $ 175 $ 350 $ 342