XML 42 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Net sales and operating revenues $ 2,081 $ 1,963 $ 6,416 $ 5,933
Costs and expenses        
Cost of sales (exclusive of depreciation and amortization shown below) 1,735 1,691 5,340 5,031
Engineering, research, and development 42 35 126 103
Selling, general, and administrative 108 112 379 337
Depreciation and amortization of other intangibles 52 51 155 151
Costs and expenses 1,937 1,889 6,000 5,622
Other expense        
Loss on sale of receivables (1) (1) (3) (3)
Other (3) (1) (4) (2)
Total other income (expense) (4) (2) (7) (5)
Earnings before interest expense, income taxes, and noncontrolling interests 140 72 409 306
Interest expense (net of interest capitalized of $1 million in both of the three months ended September 30, 2014 and 2013, and $3 million in both of the nine months ended September 30, 2014 and 2013, respectively) 20 20 58 60
Earnings before income taxes and noncontrolling interests 120 52 351 246
Income tax expense 31 30 117 89
Net income 89 22 234 157
Less: Net income attributable to noncontrolling interests 11 10 29 28
Net income attributable to Tenneco Inc. $ 78 $ 12 $ 205 $ 129
Weighted average shares of common stock outstanding —        
Basic (in shares) 60,762,667 60,624,358 60,671,410 60,475,652
Diluted (in shares) 61,713,851 61,865,375 61,635,062 61,583,629
Basic earnings per share of common stock (in dollars per share) $ 1.29 $ 0.19 $ 3.39 $ 2.13
Diluted earnings per share of common stock (in dollars per share) $ 1.27 $ 0.19 $ 3.33 $ 2.09