v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 264 $ 235
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 147 140
Provision for credit losses 1 1
Deferred income tax expense 48 7
Stock-based compensation expense 20 22
Other, net 8 (1)
Changes in operating assets and liabilities:    
Accounts receivable (180) (101)
Accounts payable and accrued expenses (12) (53)
Income taxes payable 13 15
Other assets and liabilities, net (31) 49
Net cash provided by operating activities 278 314
Cash flows from investing activities:    
Business acquisitions, net of cash acquired (38) 0
Capital expenditures (114) (117)
Other investing activities, net 0 2
Net cash used in investing activities (152) (115)
Cash flows from financing activities:    
Proceeds from borrowings 0 215
Repayments of debt (1) (600)
Exercise of stock options 65 29
Employee payroll tax withholdings on stock issued under stock-based compensation plans (37) (42)
Dividends paid (88) (84)
Distributions to noncontrolling interest partners (7) (18)
Other financing activities, net (84) (61)
Net cash used in financing activities (152) (561)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1) 1
Net change in cash and cash equivalents and restricted cash (27) (361)
Cash and cash equivalents and restricted cash, beginning of period 420 549
Cash and cash equivalents and restricted cash, end of period $ 393 $ 188