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Consolidated Statement of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales $ 1,078 $ 2,306 $ 3,004 $ 4,469
Costs and expenses        
Cost of sales 1,088 1,980 2,808 3,843
Selling, general and administrative expenses 82 140 188 276
Amortization of intangibles 3 4 6 6
Restructuring charges, net 16 9 19 18
Impairment of goodwill (51)
Pension settlement charge (258) (258)
Other income (expense), net (1) (10) 3 (23)
Earnings (loss) before interest and income taxes (112) (95) (65) 45
Write-off deferred financing costs (5) (5)
Interest income 2 3 4 5
Interest expense 32 34 61 61
Loss before income taxes (147) (126) (127) (11)
Income tax expense (benefit) 34 (52) 18 (32)
Equity in earnings of affiliates 8 8 10 14
Net income (loss) (173) (66) (135) 35
Less: Noncontrolling interests net income 2 2 6
Less: Redeemable noncontrolling interests net income (loss) 1 (21) (1)
Net income (loss) attributable to the parent company $ (174) $ (68) $ (116) $ 30
Net income (loss) per share available to common stockholders        
Basic (in dollars per share) $ (1.20) $ (0.47) $ (0.80) $ 0.21
Diluted (in dollars per share) $ (1.20) $ (0.47) $ (0.80) $ 0.21
Weighted-average common shares outstanding        
Basic (in shares) 144.5 144.0 144.4 143.9
Diluted (in shares) 144.5 144.0 144.4 144.8