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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 71 $ 60
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization 45 41
Stock-based compensation 8 0
Losses on foreign exchange transactions 3 3
Deferred income taxes 1 (3)
Other, net 6 6
Changes in assets and liabilities, excluding the effects of acquisitions and divestitures:    
Accounts receivable (81) (78)
Contract and other assets (25) (8)
Accounts payable (23) (13)
Accrued expenses (89) (98)
Pension and postretirement benefit plans (3) (1)
Contract and other liabilities 241 232
Net cash flows provided by operating activities 154 141
Investing activities    
Capital expenditures (51) (57)
Other investing activities, net 1 0
Net cash flows used in investing activities (50) (57)
Financing activities    
Proceeds from long-term debt 62 20
Repayments of long-term debt (152) (45)
Dividends to stockholders of UL Solutions (26) (25)
Dividends to non-controlling interest (17) 0
Other financing activities, net (2) 1
Net cash flows used in financing activities (135) (49)
Effect of exchange rate changes on cash and cash equivalents 0 (6)
Net (decrease) increase in cash and cash equivalents (31) 29
Cash and cash equivalents    
Beginning of period 298 315
End of period 267 344
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 7 10
Cash paid during the period for income taxes 16 9
Noncash investing and financing activities    
Capital expenditures funded by liabilities $ 26 $ 33