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Consolidated Statement of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net sales $ 2,586 $ 2,205 $ 5,066 $ 4,468
Costs and expenses        
Cost of sales 2,403 1,953 4,686 3,965
Selling, general and administrative expenses 130 126 260 245
Amortization of intangibles 3 3 7 7
Restructuring charges, net 1 1
Other income (expense), net 10 (10) 12 (29)
Earnings before interest and income taxes 59 113 125 221
Loss on extinguishment of debt (24) (24)
Interest income 2 2 4 4
Interest expense 32 34 63 68
Earnings before income taxes 29 57 66 133
Income tax expense 18 14 36 36
Equity in earnings (loss) of affiliates (1) 10 24
Net income 10 53 30 121
Less: Noncontrolling interests net income 3 4 7 5
Less: Redeemable noncontrolling interests net loss (1) (4) (2) (8)
Net income attributable to the parent company $ 8 $ 53 $ 25 $ 124
Net income per share available to common stockholders        
Basic (in dollars per share) $ 0.06 $ 0.37 $ 0.17 $ 0.85
Diluted (in dollars per share) $ 0.06 $ 0.36 $ 0.17 $ 0.85
Weighted-average common shares outstanding        
Basic (in shares) 143.4 145.2 143.8 145.1
Diluted (in shares) 143.7 146.7 144.6 146.5