Three Months Ended | ||||||||||||
(in millions USD) | March 31, 2023 | December 31, 2022 | March 31, 2022 | |||||||||
Gross profit | $ | 515 | $ | 622 | $ | 469 | ||||||
Gross profit margin | 28.0 | % | 29.6 | % | 24.2 | % | ||||||
Share based compensation | $ | 10 | $ | 11 | $ | 21 | ||||||
Adjusted gross profit (1) | $ | 525 | $ | 633 | $ | 490 | ||||||
Adjusted gross margin(1) | 28.5 | % | 30.1 | % | 25.3 | % | ||||||
Operating profit | $ | 290 | $ | 288 | $ | 225 | ||||||
Operating profit margin | 15.8 | % | 13.7 | % | 11.6 | % | ||||||
Share based compensation | $ | 31 | $ | 43 | $ | 54 | ||||||
Restructuring charges (2) | $ | 5 | 94 | — | ||||||||
Adjusted operating profit (1) | $ | 326 | $ | 425 | $ | 279 | ||||||
Adjusted operating profit margin (1) | 17.7 | % | 20.2 | % | 14.4 | % | ||||||
Net income (3) | $ | 254 | $ | 668 | $ | 178 | ||||||
Net income margin | 13.8 | % | 31.8 | % | 9.2 | % | ||||||
Share based compensation | $ | 31 | $ | 43 | $ | 54 | ||||||
Restructuring charges (2) | $ | 5 | 94 | — | ||||||||
Income tax effect (4) | $ | — | $ | (5 | ) | $ | — | |||||
Adjusted net income (1)(5) | $ | 290 | $ | 800 | $ | 232 | ||||||
Adjusted net income margin (1) | 15.8 | % | 38.1 | % | 12.0 | % | ||||||
Diluted earnings per share | $ | 0.46 | $ | 1.21 | $ | 0.33 | ||||||
Share based compensation | $ | 0.05 | $ | 0.07 | $ | 0.09 | ||||||
Restructuring charges (2) | $ | 0.01 | 0.17 | — | ||||||||
Income tax effect | $ | — | (0.01 | ) | — | |||||||
Adjusted diluted earnings per share (1) | $ | 0.52 | $ | 1.44 | $ | 0.42 | ||||||
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