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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net sales:      
Total Net sales $ 4,584 $ 5,781 $ 5,627
Cost of sales:      
Total Cost of sales 2,461 3,157 2,999
Gross profit 2,123 2,624 2,628
Operating expenses:      
Selling and marketing 581 607 587
Research and development 519 570 567
General and administrative 334 375 348
Settlement and related costs 0 372 0
Amortization of intangible assets 104 136 115
Acquisition and integration costs 6 21 25
Exit and restructuring costs 98 14 7
Total Operating expenses 1,642 2,095 1,649
Operating income 481 529 979
Other (loss) income, net:      
Foreign exchange loss (2) (3) (5)
Interest (expense) income, net (133) 23 (5)
Other expense, net (12) (5) (1)
Total Other (expense) income, net (147) 15 (11)
Income before income tax 334 544 968
Income tax expense 38 81 131
Net income $ 296 $ 463 $ 837
Basic earnings per share (in USD per share) $ 5.75 $ 8.86 $ 15.66
Diluted earnings per share (in USD per share) $ 5.72 $ 8.80 $ 15.52
Tangible Products      
Net sales:      
Total Net sales $ 3,665 $ 4,915 $ 4,845
Cost of sales:      
Total Cost of sales 2,012 2,699 2,590
Services and Software      
Net sales:      
Total Net sales 919 866 782
Cost of sales:      
Total Cost of sales $ 449 $ 458 $ 409