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Consolidated Statement Of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net sales [1],[2] $ 18,619 $ 18,916 $ 21,161
COSTS AND EXPENSES      
Cost of products sold 13,376 13,629 15,143
Selling and administrative expenses 1,840 1,360 1,293
Depreciation and amortization 1,305 1,432 1,040
Distribution expenses 1,475 1,575 1,783
Taxes other than payroll and income taxes 147 154 148
Restructuring and other charges, net 221 99 89
Net (gains) losses on sales and impairments of businesses 0 0 76
Net (gains) losses on sales of equity method investments 0 0 10
Net (gains) losses on sales of fixed assets (58) 0 0
Net (gains) losses on mark to market investments 0 0 (65)
Interest expense, net 208 231 325
Non-operating pension (income) expense (42) 54 (192)
Earnings (loss) from continuing operations before income taxes and equity earnings 147 382 1,511
Income tax provision (benefit) (415) 59 (236)
Equity earnings (loss), net of taxes (5) (21) (6)
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 557 302 1,741
Discontinued operations, net of taxes 0 (14) (237)
NET EARNINGS (LOSS) $ 557 $ 288 $ 1,504
BASIC EARNINGS (LOSS) PER SHARE      
Earnings (loss) from continuing operations $ 1.60 $ 0.87 $ 4.79
Discontinued operations, net of taxes 0 (0.04) (0.65)
Net earnings (loss) 1.60 0.83 4.14
DILUTED EARNINGS (LOSS) PER SHARE      
Earnings (loss) from continuing operations 1.57 0.86 4.74
Discontinued operations, net of taxes 0 (0.04) (0.64)
Net earnings (loss) $ 1.57 $ 0.82 $ 4.10
[1] Net sales are attributed to countries based on the location of the seller.
[2] Net sales are attributed to countries based on the location of the reportable segment making the sale.