Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Operating Results and Capital Expenditures by Reportable Segments

The operating results of the Company’s reportable segments were as follows:


	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
First quarter ended March 31, 2026
Sales:
Third-party sales	$	1,253	$	471	$	294	$	295	$	2,313
Inter-segment sales	2		—		8		—		10
Total sales	$	1,255	$	471	$	302	$	295	$	2,323
Expenses:
Segment Adjusted cost of goods sold(1)	$	765	$	289	$	226	$	195	$	1,475




Other segment items(2)	32		32		10		10		84
Profit and loss:
Segment Adjusted EBITDA	$	458	$	150	$	66	$	90	$	764
Provision for depreciation and amortization	38		13		10		11		72


Restructuring and other credits	—		—		(93)		—		(93)
Other:
Capital expenditures	$	59	$	17	$	12	$	3	$	91
Total assets	5,698		2,902		1,300		723		10,623

First quarter ended March 31, 2025
Sales:
Third-party sales	$	974	$	412	$	304	$	252	$	1,942
Inter-segment sales	2		—		7		—		9
Total sales	$	976	$	412	$	311	$	252	$	1,951
Expenses:
Segment Adjusted cost of goods sold(1)	$	633	$	256	$	236	$	174	$	1,299


Other segment items(2)	25		29		8		10		72
Profit and loss:
Segment Adjusted EBITDA	$	318	$	127	$	67	$	68	$	580
Provision for depreciation and amortization	33		12		13		10		68


Restructuring and other credits	—		—		(4)		—		(4)
Other:
Capital expenditures	$	85	$	10	$	6	$	15	$	116
Total assets	5,279		2,741		1,469		728		10,217

(1)Segment Adjusted cost of goods sold is exclusive of Provision for depreciation and amortization, Restructuring and other credits, and Corporate expenses.

(2)Other segment items includes Selling, general administrative, and other expenses, and Research and development expenses; exclusive of Provision for depreciation and amortization, and Restructuring and credits.

The following table reconciles total segment capital expenditures with Capital expenditures as presented in the Statement of Consolidated Cash Flows.


	First quarter ended
	March 31,
	2026		2025
Total segment capital expenditures	$	91	$	116
Corporate	3		3
Capital expenditures	$	94	$	119

Schedule of Reconciliation of Total Segment Operating Profit to Income Before Income Taxes

The following table reconciles Total Segment Adjusted EBITDA to Income before income taxes. Differences between the total segment and consolidated totals are in Corporate.


	First quarter ended
	March 31,
	2026		2025
Total Segment Adjusted EBITDA	$	764	$	580
Segment provision for depreciation and amortization	(72)		(68)
Unallocated amounts:
Restructuring and other credits	93		4
Corporate expense(1)	(32)		(22)
Operating income	$	753	$	494

Interest expense, net	(43)		(39)
Other expense, net	(2)		(9)
Income before income taxes	$	708	$	446

(1) Corporate expense includes selling, general administrative and other expenses, costs of corporate headquarters, acquisition and acquisition-related costs, costs associated with closures, supply chain disruptions, and other items.

Schedule of Disaggregation of Revenue by Major End Market Served

The following table disaggregates segment revenue by major market served. Differences between the total segment and consolidated totals are in Corporate.


	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
First quarter ended March 31, 2026
Aerospace - Commercial	$	702	$	322	$	191	$	—	$	1,215
Aerospace - Defense	238		51		77		—		366
Commercial Transportation	—		51		—		295		346
Gas Turbines	284		—		—		—		284
Other	29		47		26		—		102
Total end-market revenue	$	1,253	$	471	$	294	$	295	$	2,313

First quarter ended March 31, 2025
Aerospace - Commercial	$	535	$	275	$	206	$	—	$	1,016
Aerospace - Defense	211		42		80		—		333
Commercial Transportation	—		53		—		252		305
Gas Turbines	204		—		—		—		204
Other	24		42		18		—		84
Total end-market revenue	$	974	$	412	$	304	$	252	$	1,942