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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net sales (Note 3) $ 1,692 $ 2,065 $ 3,335 $ 3,930
Costs of sales 1,390 1,447 2,712 2,795
Gross margin 302 618 623 1,135
Selling expenses 21 23 42 46
General and administrative expenses 80 80 169 158
Research and development expenses 2 2 3 4
Other operating costs, net (Note 15) 13 37 49 47
Operating income 186 476 360 880
Non-operating pension and other postretirement benefit costs (10) (13) (480) (37)
Interest income and other 6 11 16 23
Interest expense, net of capitalized interest (91) (92) (198) (185)
Earnings (loss) before income taxes 91 382 (302) 681
Income taxes (Note 16) 37 (65) 141 (95)
Net earnings (loss) $ 128 $ 317 $ (161) $ 586
Earnings (loss) per share, basic and diluted (Note 4) $ 0.17 $ 0.42 $ (0.22) $ 0.77
Weighted average shares outstanding (in thousands) (Note 4):        
Basic 745,486 757,829 746,041 757,317
Diluted 746,232 760,533 746,041 759,992