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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Sales $ 585 $ 942 $ 1,981 $ 2,896
Cost of sales 471 768 1,640 2,374
Gross profit 114 174 341 522
Selling, general and administrative expenses 100 137 352 409
Goodwill and intangible asset impairment 0 0 242 0
Operating income (loss) 14 37 (253) 113
Other (expense) income:        
Interest expense (7) (10) (22) (31)
Other, net 1 2 (1) 3
Income (loss) before income taxes 8 29 (276) 85
Income tax expense (benefit) 5 8 (7) 22
Net income (loss) 3 21 (269) 63
Series A preferred stock dividends 6 6 18 18
Net (loss) income attributable to common stockholders $ (3) $ 15 $ (287) $ 45
Basic (loss) income per common share (in dollars per share) $ (0.04) $ 0.18 $ (3.50) $ 0.54
Diluted (loss) income per common share (in dollars per share) $ (0.04) $ 0.18 $ (3.50) $ 0.53
Weighted-average common shares, basic (in shares) 82.1 82.7 81.9 83.4
Weighted-average common shares, diluted (in shares) 82.1 83.4 81.9 84.2