v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 531 $ 448
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 283 233
Provision for credit losses 2 3
Deferred income tax expense (benefit) 8 (36)
Stock-based compensation expense 43 42
Other, net 26 16
Changes in operating assets and liabilities:    
Accounts receivable (115) (113)
Accounts payable and accrued expenses (11) (111)
Income taxes payable 9 20
Other assets and liabilities, net 82 12
Net cash provided by operating activities 858 514
Cash flows from investing activities:    
Business acquisitions, net of cash acquired (17) (248)
Capital expenditures (225) (196)
Other investing activities, net 3 31
Net cash used in investing activities (239) (413)
Cash flows from financing activities:    
Proceeds from borrowings 400 0
Repayments of debt (1,001) (301)
Exercise of stock options 42 28
Employee payroll tax withholdings on stock issued under stock-based compensation plans (42) (23)
Dividends paid (174) (163)
Distributions to noncontrolling interest partners (29) (18)
Other financing activities, net (50) (39)
Net cash used in financing activities (854) (516)
Effect of exchange rate changes on cash and cash equivalents and restricted cash 5 0
Net change in cash and cash equivalents and restricted cash (230) (415)
Cash and cash equivalents and restricted cash, beginning of period 549 686
Cash and cash equivalents and restricted cash, end of period $ 319 $ 271