v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 414 $ 345
Depreciation and amortization 97 93
Share-based compensation 16 9
Changes in deferred income taxes 38 (4)
Changes in inventories (92) (54)
Changes in receivables and other assets (275) (121)
Changes in accounts payable and other liabilities 543 656
Changes in income taxes payable 29 (51)
Other operating activities 2 1
Net cash provided by operating activities 772 874
Cash flows from investing activities:    
Purchase of businesses acquired, net of cash acquired (10) (150)
Capital expenditures (92) (73)
Other investing activities 8 12
Net cash used in investing activities (94) (211)
Cash flows from financing activities:    
Purchase of treasury shares (236) (207)
Repayments of debt 0 (775)
Proceeds from debt 0 475
Change in bank overdrafts 0 (119)
Cash dividends (174) (166)
Other financing activities (3) (22)
Net cash used in financing activities (413) (814)
Change in cash, cash equivalents and restricted cash 265 (151)
Effects of exchange rate changes (2) 9
Cash, cash equivalents and restricted cash, beginning of period 581 773
Cash, cash equivalents and restricted cash, end of period 844 631
Supplemental Disclosures:    
Cash paid for income taxes, net 78 180
Cash paid for interest 22 19
Accrued capital expenditures 12 6
Accrued dividends 173 165
Lease assets obtained in exchange for new operating lease liabilities (non-cash) $ 183 $ 158