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Income Statement · Annual · Millions · USD

Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	2,004	1,973	2,189	2,356	1,502	1,325	1,578	1,789	1,903	1,894
Cost of revenue	1,440	1,422	1,608	1,715	1,263	1,075	1,221	1,356	1,433	1,459
Gross profit	565	552	581	640	240	250	357	433	470	435
Research and development	47	49	56	57	47	45	46	53	57	56
Selling, general and administrative	158	152	146	159	121	135	148	164	177	169
Operating income	360	351	371	425	14	52	175	215	186	172
Interest expense	22	27	38	46	42	38	36	34	31	38
Other non-operating income (expense)	(0)	–	–	–	–	9	11	(72)	0	1
Income before taxes	338	323	334	380	(28)	22	150	110	155	135
Income tax expense	90	43	63	77	(61)	6	32	12	23	26
Net income from continuing operations	247	281	271	303	33	16	118	98	132	109
Net income	250	284	277	307	32	16	126	106	132	109
Net income to common shareholders	250	284	277	307	32	16	126	106	132	109