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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Total net revenues $ 3,756 $ 3,817 $ 3,556
Cost of sales (2,814) (3,041) (2,745)
Gross profit 942 776 811
Selling, general and administrative expenses (430) (340) (320)
Other expense, net 0 (22) (13)
Income from operations 512 414 478
Interest expense, net (119) (76) (48)
Consolidated GAAP income before income taxes 393 338 430
Income tax expense (95) (80) (106)
Net income $ 298 $ 258 $ 324
Earnings per share      
Basic (in USD per share) $ 1.42 $ 1.23 $ 1.54
Diluted (in USD per share) $ 1.42 $ 1.23 $ 1.54
Weighted average shares outstanding:      
Basic (in shares) 210.0 209.8 209.8
Diluted (in shares) 210.0 209.9 209.8
Nonrelated Party      
Net revenues and related party revenues $ 3,673 $ 3,716 $ 3,445
Related Party      
Net revenues and related party revenues $ 83 $ 101 $ 111