XML 19 R2.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED RESULTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CONSOLIDATED RESULTS OF OPERATIONS      
Net sales $ 7,105 $ 6,856 $ 6,357
Revenue, Product and Service [Extensible List] us-gaap:ProductMember us-gaap:ProductMember us-gaap:ProductMember
Cost of goods sold $ (5,609) $ (5,643) $ (5,266)
Gross profit 1,496 1,213 1,091
Selling and administrative expense (540) (496) (433)
Research, development and engineering expense (92) (79) (82)
Interest expense, net (342) (239) (216)
Equity earnings 127 107 90
Other income (expense), net (incl. goodwill impairment) (582) 299 (118)
Earnings from continuing operations before income taxes 67 805 332
Provision for income taxes (152) (178) (167)
Earnings (loss) from continuing operations (85) 627 165
Gain from discontinued operations     7
Net earnings (loss) (85) 627 172
Net earnings attributable to noncontrolling interests (18) (43) (23)
Net earnings (loss) attributable to the Company (103) 584 149
Amounts attributable to the Company:      
Earnings (loss) from continuing operations (103) 584 142
Gain from discontinued operations     7
Net earnings (loss) attributable to the Company $ (103) $ 584 $ 149
Basic earnings per share:      
Earnings (loss) from continuing operations (in dollars per share) $ (0.67) $ 3.76 $ 0.90
Gain from discontinued operations (in dollars per share)     0.05
Net earnings (loss) (in dollars per share) (0.67) 3.76 0.95
Diluted earnings per share:      
Earnings (loss) from continuing operations (in dollars per share) (0.67) 3.67 0.88
Gain from discontinued operations (in dollars per share)     0.05
Net earnings (loss) (in dollars per share) $ (0.67) $ 3.67 $ 0.93