v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 97 $ 71
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization 47 45
Stock-based compensation 12 8
Losses on foreign exchange transactions 1 3
Deferred income taxes 0 1
Other, net 4 6
Changes in assets and liabilities, excluding the effects of acquisitions and divestitures:    
Accounts receivable (87) (81)
Contract and other assets (16) (25)
Accounts payable (2) (23)
Accrued expenses (93) (89)
Pension and postretirement benefit plans (1) (3)
Contract and other liabilities 257 241
Net cash flows provided by operating activities 219 154
Investing activities    
Capital expenditures (69) (51)
Sales of investments 8 0
Payment for (Proceeds from) Other Investing Activity 0 1
Net cash flows used in investing activities (61) (50)
Financing activities    
Proceeds from long-term debt 187 62
Repayments of long-term debt (321) (152)
Dividends to stockholders of UL Solutions (29) (26)
Dividends to non-controlling interest (20) (17)
Employee taxes paid on settlement of stock-based compensation (9) 0
Other financing activities, net (2) (2)
Net cash flows used in financing activities (194) (135)
Effect of exchange rate changes on cash and cash equivalents (1) 0
Net decrease in cash and cash equivalents (37) (31)
Cash and cash equivalents    
Beginning of period 295 298
End of period 258 267
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 3 7
Cash paid during the period for income taxes 19 16
Noncash investing and financing activities    
Capital expenditures funded by liabilities $ 41 $ 26