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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net sales $ 824 $ 736 $ 2,429 $ 2,260
Cost of sales 428 379 1,273 1,161
Gross profit 396 357 1,156 1,099
Selling, general and administrative 85 86 253 265
Engineering — research and development 51 49 146 140
Operating income 260 222 757 694
Interest expense, net (21) (27) (68) (83)
Other income (expense), net 10 (2) (2) 10
Income before income taxes 249 193 687 621
Income tax expense (49) (35) (131) (118)
Net income $ 200 $ 158 $ 556 $ 503
Basic earnings per share attributable to common stockholders $ 2.3 $ 1.76 $ 6.39 $ 5.53
Diluted earnings per share attributable to common stockholders $ 2.27 $ 1.76 $ 6.32 $ 5.53
Comprehensive income, net of tax $ 199 $ 151 $ 549 $ 493