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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Total net revenues $ 3,721 $ 3,695 $ 3,756
Cost of sales (2,807) (2,717) (2,814)
Gross profit 914 978 942
Selling, general and administrative expenses (382) (429) (430)
Other expense, net (40) 0 0
Income from operations 492 549 512
Interest expense, net (86) (98) (119)
Debt refinancing expense (13) 0 0
Income before income taxes 393 451 393
Income tax expense (92) (99) (95)
Net income $ 301 $ 352 $ 298
Earnings per share      
Basic (in USD per share) $ 1.43 $ 1.68 $ 1.42
Diluted (in USD per share) $ 1.43 $ 1.67 $ 1.42
Weighted average shares outstanding:      
Basic (in shares) 210.3 210.1 210.0
Diluted (in shares) 210.4 210.4 210.0
Net revenues      
Total net revenues $ 3,704 $ 3,618 $ 3,673
Related party net revenues      
Total net revenues $ 17 $ 77 $ 83