v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 666 $ 568
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 237 241
Stock-based compensation expense 36 26
Gain on mark-to-market derivatives (32) 0
Below market intangible amortization (22) (23)
Net loss on disposal of property, plant and equipment 0 2
Changes in operating assets and liabilities, net of acquisitions and dispositions:    
Accounts receivable and unbilled accounts receivable (243) (146)
Inventories (180) (120)
Accounts payable 74 93
Accrued income taxes (1) 14
Current and noncurrent customer deposits 14 (5)
Other accrued liabilities (108) (47)
Other operating activities (41) (34)
Net cash provided by operating activities 400 569
Investing Activities    
Purchase of property, plant and equipment (83) (77)
Acquisitions of businesses, net of cash acquired (21) 0
Proceeds from disposal of property, plant and equipment 6 20
Net cash used for investing activities (98) (57)
Financing Activities    
Proceeds from debt, net of issuance costs 2,189 1,803
Payments of debt (1,454) (1,861)
Repurchase of stock (148) (375)
Cash dividends (87) (71)
Payment of income tax withholding on share-based compensation (39) (23)
Other financing activities (7) 4
Net cash provided by (used for) financing activities 454 (523)
Effect of changes in currency exchange rates 28 (14)
Increase (decrease) in cash 784 (25)
Cash, cash equivalents and restricted cash, beginning of period 715 620
Cash, cash equivalents and restricted cash, end of period $ 1,499 $ 595