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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total net revenues $ 3,695 $ 3,756 $ 3,817
Cost of sales (2,717) (2,814) (3,041)
Gross profit 978 942 776
Selling, general and administrative expenses (429) (430) (340)
Other expense, net 0 0 (22)
Income from operations 549 512 414
Interest expense, net (98) (119) (76)
Income before income taxes 451 393 338
Income tax expense (99) (95) (80)
Net income $ 352 $ 298 $ 258
Earnings per share      
Basic (in USD per share) $ 1.68 $ 1.42 $ 1.23
Diluted (in USD per share) $ 1.67 $ 1.42 $ 1.23
Weighted average shares outstanding:      
Basic (in shares) 210.1 210.0 209.8
Diluted (in shares) 210.4 210.0 209.9
Net revenues      
Total net revenues $ 3,618 $ 3,673 $ 3,716
Related party net revenues      
Total net revenues $ 77 $ 83 $ 101