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CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net sales (Note 3) $ 826 $ 960 $ 2,631 $ 2,941
Cost of goods sold 660 784 2,108 2,374
Gross profit 166 176 523 567
Selling, general and administrative expenses 53 59 178 178
Other expense, net 1 1 5 3
Interest expense 37 48 130 104
Gain on sale of equity investment 0 0 (27) 0
Non-operating (income) expense (1) (2) (7) 3
Income before taxes 76 70 244 279
Tax expense (Note 5) 24 13 62 70
Net income 52 57 182 209
Less: preferred stock dividends 0 0 0 (80)
Less: preferred stock deemed dividends 0 0 0 (232)
Net income (loss) available for distribution $ 52 $ 57 $ 182 $ (103)
Earnings (loss) per common share        
Earnings (loss) per common share, basic (in USD per share) $ 0.24 $ 0.23 $ 0.80 $ (0.73)
Earnings (loss) per common share, diluted (in USD per share) $ 0.24 $ 0.23 $ 0.80 $ (0.73)
Weighted average common shares outstanding        
Weighted average common shares outstanding, basic (in shares) 217,283,749 250,888,716 226,057,803 141,745,701
Weighted average common shares outstanding, diluted (in shares) 218,403,681 252,381,719 227,649,747 141,745,701