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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Net sales (Note 3) $ 2,276 $ 2,345 $ 8,361 $ 7,995
Costs of sales 1,694 1,589 5,130 4,602
Gross margin 582 756 3,231 3,393
Selling expenses 24 24 70 68
General and administrative expenses 100 98 294 283
Other operating costs (income), net (Note 13) 1 (15) 19 8
Operating income 457 649 2,848 3,034
Non-operating pension and other post-employment benefit costs (Note 6) (12) (5) (38) (14)
Interest income and other 9 1 9 4
Interest expense, net of capitalized interest (67) (79) (204) (236)
Loss on debt extinguishment (Note 8) 0 0 (276) 0
Earnings before income taxes 387 566 2,339 2,788
Income taxes (Note 14) (77) (84) (470) (597)
Net earnings $ 310 $ 482 $ 1,869 $ 2,191
Earnings per share, basic (Note 4) $ 0.42 $ 0.64 $ 2.51 $ 2.92
Earnings per share, diluted (Note 4) $ 0.42 $ 0.64 $ 2.51 $ 2.92
Weighted average shares outstanding (in thousands) (Note 4):        
Basic 740,058 750,105 743,990 749,657
Diluted 740,975 751,443 745,081 750,999