Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

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
Second quarter ended June 30, 2026
Sales:
Third-party sales	$	1,373	$	589	$	269	$	316	$	2,547
Inter-segment sales	3		—		8		—		11
Total sales	$	1,376	$	589	$	277	$	316	$	2,558
Expenses:
Segment Adjusted cost of goods sold(1)	$	831	$	373	$	204	$	216	$	1,624
Other segment items(2)	28		39		9		12		88
Profit and loss:
Segment Adjusted EBITDA	$	517	$	177	$	64	$	88	$	846
Provision for depreciation and amortization	42		20		11		10		83
Other:
Capital expenditures	$	77	$	11	$	8	$	4	$	100
Second quarter ended June 30, 2025
Sales:
Third-party sales	$	1,038	$	431	$	308	$	276	$	2,053
Inter-segment sales	3		—		8		—		11
Total sales	$	1,041	$	431	$	316	$	276	$	2,064
Expenses:
Segment Adjusted cost of goods sold(1)	$	671	$	276	$	239	$	189	$	1,375
Other segment items(2)	27		29		9		11		76
Profit and loss:
Segment Adjusted EBITDA	$	343	$	126	$	68	$	76	$	613
Provision for depreciation and amortization	35		12		10		10		67
Restructuring and other charges (credits)	—		1		—		(1)		—
Other:
Capital expenditures	$	74	$	9	$	7	$	8	$	98
	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Six months ended June 30, 2026
Sales:
Third-party sales	$	2,626	$	1,060	$	563	$	611	$	4,860
Inter-segment sales	5		—		16		—		21
Total sales	$	2,631	$	1,060	$	579	$	611	$	4,881
Expenses:
Segment Adjusted cost of goods sold(1)	$	1,596	$	662	$	430	$	411	$	3,099
Other segment items(2)	60		71		19		22		172
Profit and loss:
Segment Adjusted EBITDA	$	975	$	327	$	130	$	178	$	1,610
Provision for depreciation and amortization	80		33		21		21		155
Restructuring and other credits	—		—		(93)		—		(93)
Other:
Capital expenditures	$	136	$	28	$	20	$	7	$	191
Total assets	5,777		4,756		1,277		785		12,595

Six months ended June 30, 2025
Sales:
Third-party sales	$	2,012	$	843	$	612	$	528	$	3,995
Inter-segment sales	5		—		15		—		20
Total sales	$	2,017	$	843	$	627	$	528	$	4,015
Expenses:
Segment Adjusted cost of goods sold(1)	$	1,304	$	532	$	475	$	363	$	2,674
Other segment items(2)	52		58		17		21		148
Profit and loss:
Segment Adjusted EBITDA	$	661	$	253	$	135	$	144	$	1,193
Provision for depreciation and amortization	68		24		23		20		135
Restructuring and other charges (credits)	—		1		(4)		(1)		(4)
Other:
Capital expenditures	$	159	$	19	$	13	$	23	$	214
Total assets	5,512		2,787		1,374		748		$	10,421

(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.

	Second quarter ended				Six months ended
	June 30,				June 30,
	2026		2025		2026		2025
Total segment capital expenditures	$	100	$	98	$	191	$	214
Corporate	4		4		7		7
Capital expenditures	$	104	$	102	$	198	$	221

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.

	Second quarter ended				Six months ended
	June 30,				June 30,
	2026		2025		2026		2025
Total Segment Adjusted EBITDA	$	846	$	613	$	1,610	$	1,193
Segment provision for depreciation and amortization	(83)		(67)		(155)		(135)
Unallocated amounts:
Restructuring and other credits	—		—		93		4
Corporate expense(1)	(52)		(25)		(84)		(47)
Operating income	$	711	$	521	$	1,464	$	1,015
Interest expense, net	(51)		(38)		(94)		(77)
Other expense, net	(11)		(14)		(13)		(23)
Income before income taxes	$	649	$	469	$	1,357	$	915

(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
Second quarter ended June 30, 2026
Aerospace - Commercial	$	770	$	412	$	177	$	—	$	1,359
Aerospace - Defense	250		64		75		—		389
Commercial Transportation	—		56		—		316		372
Gas Turbines	321		—		—		—		321
Other	32		57		17		—		106
Total end-market revenue	$	1,373	$	589	$	269	$	316	$	2,547
Second quarter ended June 30, 2025
Aerospace - Commercial	$	562	$	297	$	201	$	—	$	1,060
Aerospace - Defense	214		44		94		—		352
Commercial Transportation	—		56		—		276		332
Gas Turbines	233		—		—		—		233
Other	29		34		13		—		76
Total end-market revenue	$	1,038	$	431	$	308	$	276	$	2,053
Six months ended June 30, 2026
Aerospace - Commercial	$	1,472	$	734	$	368	$	—	$	2,574
Aerospace - Defense	488		115		152		—		755
Commercial Transportation	—		107		—		611		718
Gas Turbines	605		—		—		—		605
Other	61		104		43		—		208
Total end-market revenue	$	2,626	$	1,060	$	563	$	611	$	4,860
Six months ended June 30, 2025
Aerospace - Commercial	$	1,097	$	572	$	407	$	—	$	2,076
Aerospace - Defense	425		86		174		—		685
Commercial Transportation	—		109		—		528		637
Gas Turbines	437		—		—		—		437
Other	53		76		31		—		160
Total end-market revenue	$	2,012	$	843	$	612	$	528	$	3,995