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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]                      
Net sales (Note 4) $ 844 $ 826 $ 890 $ 915 $ 945 $ 960 $ 1,011 $ 970 $ 3,475 $ 3,886 $ 3,603
Cost of goods sold                 2,770 3,130 2,920
Gross profit 182 166 185 172 189 176 202 189 705 756 683
Selling, general and administrative expenses                 240 247 216
Other expense, net (Note 5)                 6 5 2
Interest expense                 156 159 8
Loss on extinguishment of debt (Note 17)                 0 0 5
Gain on sale of equity investment (Note 28)                 (27) 0 0
Non-operating income, net (Note 6)                 (13) (2) (47)
Reorganization items, net (Note 2)                 0 0 3
Income before taxes                 343 347 496
Tax expense (Note 7)                 61 86 106
Net income 100 52 64 66 52 57 71 81 282 261 390
Less: preferred stock dividends (Note 21)                 0 (80) (157)
Less: preferred stock deemed dividends (Note 21)                 0 (232) 0
Net income (loss) available for distribution $ 100 $ 52 $ 64 $ 66 $ 52 $ 57 $ (201) $ 41 $ 282 $ (51) $ 233
Earnings (Loss) per share (Note 24)                      
Earnings (Loss) per share, basic (in USD per share) $ 0.47 $ 0.24 $ 0.29 $ 0.28 $ 0.22 $ 0.23 $ (1.88) $ 0.13 $ 1.27 $ (0.31) $ 0.75
Earnings (Loss) per share, diluted (in USD per share) $ 0.47 $ 0.24 $ 0.28 $ 0.28 $ 0.22 $ 0.23 $ (1.88) $ 0.13 $ 1.26 $ (0.31) $ 0.75
Weighted average common shares outstanding                      
Weighted average common shares outstanding, basic (in shares)                 222,316,484 166,595,397 64,708,635
Weighted average common shares outstanding, diluted (in shares)                 224,121,156 166,595,397 65,075,992