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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Sales $ 685 $ 585 $ 1,980 $ 1,981
Cost of sales 590 471 1,670 1,640
Gross profit 95 114 310 341
Selling, general and administrative expenses 102 100 304 352
Goodwill and intangible asset impairment 0 0 0 242
Operating (loss) income (7) 14 6 (253)
Other (expense) income:        
Interest expense (6) (7) (18) (22)
Other, net 0 1 1 (1)
(Loss) income before income taxes (13) 8 (11) (276)
Income tax (benefit) expense (2) 5 (1) (7)
Net (loss) income (11) 3 (10) (269)
Series A preferred stock dividends 6 6 18 18
Net loss attributable to common stockholders $ (17) $ (3) $ (28) $ (287)
Basic loss per common share (in dollars per share) $ (0.21) $ (0.04) $ (0.34) $ (3.50)
Diluted loss per common share (in dollars per share) $ (0.21) $ (0.04) $ (0.34) $ (3.50)
Weighted-average common shares, basic (in shares) 82.7 82.1 82.5 81.9
Weighted-average common shares, diluted (in shares) 82.7 82.1 82.5 81.9