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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales $ 1,026 $ 1,009 $ 2,091 $ 1,950
Cost of sales 834 816 1,696 1,580
Gross profit 192 193 395 370
Operating expenses:        
Selling, general and administrative 196 198 419 384
Operating loss (4) (5) (24) (14)
Other income (expense):        
Interest income 1 2 1 3
Interest expense (14) (15) (28) (26)
Other Nonoperating Income (Expense) 76 13 75 15
Income (loss) before taxes and equity in earnings of affiliates 59 (5) 24 (22)
Income tax benefit (6) (5) (4) (1)
Equity in net earnings of affiliates (Note 3) 1 0 1 0
Net income (loss) 54 (10) 21 (23)
Less: net income attributable to redeemable non-controlling interests 0 0 (1) 0
Net income (loss) attributable to Covetrus [1] $ 54 $ (10) $ 20 $ (23)
Earnings (loss) per share attributable to Covetrus: (Note 15)        
Basic (in usd per share) $ 0.40 $ (0.09) $ 0.15 $ (0.22)
Diluted (in usd per share) $ 0.40 $ (0.09) $ 0.15 $ (0.22)
Weighted-average common shares outstanding:        
Basic (in shares) 112 112 112 103
Diluted (in shares) 113 112 113 103
[1]
(a) Net income earned from January 1, 2019 through February 7, 2019 is attributed to the Former Parent as it was the sole shareholder prior to February 7, 2019.