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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Net sales (Note 3) $ 1,865 $ 1,693
Costs of products sold 1,348 1,272
Gross margin 517 421
Selling expenses 23 22
General and administrative expenses 78 87
Research and development expenses 2 4
Charges for integration and restructuring, closures and asset impairments (Note 15) 2 13
Charges (recoveries) for product remediation (Note 16) (20) 0
Other operating costs (income), net (Note 17) 28 2
Operating income 404 293
Non-operating pension and other postretirement benefit costs (24) (22)
Interest income and other 12 9
Interest expense, net of capitalized interest (93) (99)
Earnings before income taxes 299 181
Income taxes (Note 18) (30) (24)
Net earnings $ 269 $ 157
Earnings per share, basic and diluted (Note 5) $ 0.35 $ 0.21
Dividends paid per share $ 0.32 $ 0.31
Weighted average shares outstanding (in thousands) (Note 5):    
Basic 756,815 750,665
Diluted 759,462 754,747