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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities    
Net income $ 979 $ 854
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 365 375
Stock-based compensation expense 58 44
Gain on mark-to-market derivatives (30) 0
Below market intangible amortization (36) (34)
Net loss on disposal of property, plant and equipment 2 2
Changes in operating assets and liabilities, net of acquisitions and dispositions:    
Accounts receivable and unbilled accounts receivable (368) (92)
Inventories (228) (115)
Accounts payable 76 87
Accrued income taxes 67 33
Current and noncurrent customer deposits 1 (87)
Other accrued liabilities (24) 61
Other operating activities (95) (17)
Net cash provided by operating activities 767 1,111
Investing Activities    
Acquisitions of businesses, net of cash acquired (1,755) (13)
Purchase of property, plant and equipment (138) (123)
Proceeds from dispositions of businesses 3 17
Proceeds from disposal of property, plant and equipment 3 13
Net cash used for investing activities (1,887) (106)
Financing Activities    
Proceeds from debt, net of issuance costs 3,857 1,872
Payments of debt (2,622) (1,934)
Repurchase of stock (148) (974)
Cash dividends (130) (106)
Payment of contingent consideration 0 (42)
Payment of income tax withholding on share-based compensation (39) (24)
Distribution to noncontrolling interest (6) (6)
Other financing activities (5) 5
Net cash provided by (used for) financing activities 907 (1,209)
Effect of changes in currency exchange rates 26 (6)
Decrease in cash (187) (210)
Cash, cash equivalents and restricted cash, beginning of period 715 620
Cash, cash equivalents and restricted cash, end of period $ 528 $ 410