Unaudited Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2024

Quarterly Financial Information Disclosure [Abstract]

Summary of Unaudited Quarterly Financial Information

The following tables show selected unaudited quarterly results of operations for the years ended December 31, 2024 and 2023. The quarterly data have been prepared on the same basis as the audited annual financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair statement of our results of operations for these periods.

	2024
	March 31		June 30		September 30		December 31		Year Ended December 31
	(Dollars in millions)
Net sales	$	915	$	890	$	826	$	844	$	3,475
Gross profit	172		185		166		182		705
Net income	66		64		52		100		282
Net income available for distribution	66		64		52		100		282
Earnings per share - basic	0.28		0.29		0.24		0.47		1.27
Earnings per share - diluted	0.28		0.28		0.24		0.47		1.26

	2023
	March 31		June 30		September 30		December 31		Year Ended December 31
	(Dollars in millions)
Net sales	$	970	$	1,011	$	960	$	945	$	3,886
Gross profit	189		202		176		189		756
Net income	81		71		57		52		261
Net income (loss) available for distribution	41		(201)		57		52		(51)
Earnings (loss) per share - basic	0.13		(1.88)		0.23		0.22		(0.31)
Earnings (loss) per share - diluted	0.13		(1.88)		0.23		0.22		(0.31)
Earnings (loss) per share - diluted method (1)	Two-class		Two-class						Two-class

(1)As our Series A Preferred Stock was converted into Common Stock pursuant to the Transaction, diluted earnings per share for the quarters ended September 30, 2023 and December 31, 2023 are computed using the weighted-average number of common shares outstanding during the period plus the dilutive effect of common stock equivalents using the treasury stock method.