XML 16 R2.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS        
Net sales $ 1,609 $ 1,616 $ 4,770 $ 4,595
Revenue, Product and Service [Extensible List] us-gaap:ProductMember us-gaap:ProductMember us-gaap:ProductMember us-gaap:ProductMember
Cost of goods sold $ (1,307) $ (1,339) $ (3,916) $ (3,887)
Gross profit 302 277 854 708
Selling and administrative expense (108) (95) (325) (308)
Research, development and engineering expense (19) (16) (57) (45)
Interest expense, net (50) (61) (153) (212)
Equity earnings 23 21 64 49
Other income (expense), net (21) 250 (123) 147
Earnings from continuing operations before income taxes 127 376 260 339
Provision for income taxes (43) (41) (144) (50)
Earnings from continuing operations 84 335 116 289
Gain from discontinued operations 7   7  
Net earnings 91 335 123 289
Net earnings attributable to noncontrolling interests (6) (7) (17) (11)
Net earnings attributable to the Company 85 328 106 278
Amounts attributable to the Company:        
Earnings from continuing operations 78 328 99 278
Gain from discontinued operations 7   7  
Net earnings $ 85 $ 328 $ 106 $ 278
Basic earnings per share:        
Earnings from continuing operations attributable to the Company (in dollars per share) $ 0.49 $ 2.09 $ 0.62 $ 1.77
Gain from discontinued operations (in dollars per share) 0.05   0.05  
Net earnings (in dollars per share) $ 0.54 $ 2.09 $ 0.67 $ 1.77
Weighted average shares outstanding (thousands) (in shares) 156,825 157,073 157,430 156,650
Diluted earnings per share:        
Earnings from continuing operations attributable to the Company (in dollars per share) $ 0.48 $ 2.06 $ 0.61 $ 1.76
Gain from discontinued operations (in dollars per share) 0.05   0.05  
Net earnings (in dollars per share) $ 0.53 $ 2.06 $ 0.66 $ 1.76
Weighted average diluted shares outstanding (thousands) (in shares) 160,511 159,299 160,473 158,438