XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Income (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 revenues $ 798 $ 753 $ 1,489 $ 1,378
Related party net revenues 24 38 63 78
Total net revenues 822 791 1,552 1,456
Cost of sales (570) (564) (1,111) (1,056)
Gross profit 252 227 441 400
Selling, general and administrative expenses (81) (77) (163) (155)
Other expense, net (6) (9) (21) (14)
Income from operations 165 141 257 231
Interest expense, net (17) (67) (44) (135)
Income before income taxes 148 74 213 96
Income tax expense (36) (19) (75) (24)
Net income $ 112 $ 55 $ 138 $ 72
Earnings per share:        
Basic $ 0.53 $ 0.35 $ 0.69 $ 0.46
Diluted $ 0.53 $ 0.35 $ 0.69 $ 0.46
Weighted average shares outstanding:        
Basic 209.7 155.5 199.2 155.5
Effect of dilutive securities 0.1      
Diluted 209.8 155.5 199.2 155.5