Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Summery of Quarterly Financial Data

The following table provides summarized quarterly financial data for 2022:

	Q1 2022			Q2 2022			Q3 2022			Q4 2022
REVENUES	$	7,691		$	7,064		$	8,417		$	8,673
Costs and expenses:
Manufacturing cost of sales		4,819			4,412			5,688			5,580
Engineering, selling and administrative		2,058			2,049			2,099			2,265
OPERATING INCOME		814			603			630			828
Other Expense:
Interest expense, net		(3	)		(2	)		(1	)		(5	)
Other (expense) income, net		(17	)		(9	)		(15	)		(228	)
Total other expense, net		(20	)		(11	)		(16	)		(233	)
INCOME BEFORE INCOME TAXES		794			592			614			595
Income tax provision		175			106			111			405
NET INCOME	$	619		$	486		$	503		$	190
Net Income per Basic and Dilutive Share (a) (b)	$	0.23		$	0.18		$	0.19		$	0.07

(a)Due to changes in stock prices during the year and timing of issuances of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year.

(b)For periods prior to the Separation, basic shares at the Separation date are being utilized for the calculation of basic and diluted net income per share. For additional information regarding the basic shares at the Separation date,

see Note A. Description of Business, Basis of Presentation and Summary of Significant Accounting Policies, under “Earnings per Share”.

The following table provides summarized quarterly financial data for 2021:

	Q1 2021			Q2 2021			Q3 2021			Q4 2021
REVENUES	$	6,254		$	6,407		$	7,173		$	6,860
Costs and expenses:
Manufacturing cost of sales		4,257			3,945			4,636			4,520
Engineering, selling and administrative		1,695			1,669			1,716			2,142
OPERATING INCOME		302			793			821			198
Other Expense:
Interest expense, net		(3	)		(3	)		(3	)		(3	)
Other (expense) income, net		46			(7	)		(18	)		(10	)
Total other expense, net		43			(10	)		(21	)		(13	)
INCOME BEFORE INCOME TAXES		345			783			800			185
Income tax provision		64			146			162			159
NET INCOME	$	281		$	637		$	638		$	26
Net Income per Basic and Dilutive Share (a) (b)	$	0.10		$	0.24		$	0.24		$	0.01

(a)Due to changes in stock prices during the year and timing of issuances of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year.

(b)For periods prior to the Separation, basic shares at the Separation date are being utilized for the calculation of basic and diluted net income per share. For additional information regarding the basic shares at the Separation date,