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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Income Statement [Abstract]        
Net sales (Note 3) $ 3,144 $ 1,631 $ 5,650 $ 3,359
Costs of sales 1,583 1,283 3,013 2,665
Gross margin 1,561 348 2,637 694
Selling expenses 24 18 44 40
General and administrative expenses 95 84 185 158
Other operating costs, net (Note 15) 13 3 23 13
Operating income 1,429 243 2,385 483
Non-operating pension and other post-employment benefit costs (Note 7) (1) (10) (9) (19)
Interest income and other 2 2 3 3
Interest expense, net of capitalized interest (78) (103) (157) (188)
Earnings before income taxes 1,352 132 2,222 279
Income taxes (Note 16) (324) (60) (513) (57)
Net earnings $ 1,028 $ 72 $ 1,709 $ 222
Earnings per share, basic and diluted (Note 4) $ 1.37 $ 0.10 $ 2.28 $ 0.30
Weighted average shares outstanding (in thousands) (Note 4):        
Basic 750,127 746,896 749,429 746,715
Diluted 751,508 746,984 750,773 747,070