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 $ 679 $ 824
Adjustments to reconcile net income to net cash flows provided by operating activities, net of acquisitions and dispositions:    
Depreciation and amortization 86 85
Deferred income tax expense (benefit) (74) (25)
Stock compensation cost 44 36
Change in operating assets and liabilities:    
Accounts receivable, net (146) (171)
Contract assets and liabilities, current 70 107
Inventories (15) (10)
Other current assets 10 (60)
Accounts payable (212) (129)
Accrued liabilities 23 (127)
Pension contributions (27) (24)
Other operating activities, net (33) (27)
Net cash flows provided by (used in) operating activities 405 479
Investing Activities:    
Capital expenditures (70) (55)
Acquisitions of businesses and intangible assets, net of cash (Note 6) (82) (40)
Net proceeds from the sale of fixed assets 34 0
Receipts (payments) on settlements of derivative contracts (200) (4)
Other investing activities, net (2) 2
Net cash flows provided by (used in) investing activities (320) (97)
Financing Activities:    
Net proceeds from (repayments of) borrowings (maturities of 90 days or less) 473 323
Repayment of long-term debt (1,300) 0
Dividends paid on Common Stock (319) (295)
Repurchases of Common Stock (561) (600)
Acquisition of noncontrolling interest shares 0 (75)
Dividends paid to noncontrolling interest (5) (11)
Other financing activities, net (10) (21)
Net cash flows provided by (used in) financing activities (1,722) (679)
Effect of exchange rate changes on cash and cash equivalents 19 (32)
Net increase (decrease) in cash, cash equivalents and restricted cash (1,618) (329)
Cash, cash equivalents and restricted cash, beginning of year 2,321 1,280
Cash, cash equivalents and restricted cash, end of period 703 951
Less: Restricted cash 15 9
Cash and cash equivalents, end of period $ 688 $ 942