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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Total net revenues $ 818 $ 833
Cost of sales (629) (632)
Gross profit 189 201
Selling, general and administrative expenses (104) (111)
Other expense, net (9) 0
Income from operations 76 90
Interest expense, net (21) (25)
Debt refinancing expense (13) 0
Income before income taxes 42 65
Income tax expense (11) (16)
Net income $ 31 $ 49
Earnings per share:    
Basic (in USD per share) $ 0.15 $ 0.23
Diluted (in USD per share) $ 0.15 $ 0.23
Weighted average shares outstanding:    
Basic (in shares) 210.3 210.1
Effect of dilutive securities (in shares) 0.0 0.0
Diluted (in shares) 210.3 210.1
Net revenues    
Total net revenues $ 801 $ 811
Related party net revenues    
Total net revenues $ 17 $ 22