v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 151 $ 356
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,406 1,216
Impairment of assets 107 184
Cash surrender value increase in excess of premiums paid (25) (20)
Share-based compensation expense 55 79
Deferred income tax benefit (105) (127)
Pension and other postretirement funding more than cost (59) (59)
Other (1) 6
Change in operating assets and liabilities, net of acquisitions and divestitures:    
Accounts receivable (666) (434)
Inventories 73 (55)
Other assets 24 (47)
Accounts payable 95 (35)
Income taxes (49) 9
Accrued liabilities and other (37) (9)
Net cash provided by operating activities 969 1,064
Investing activities:    
Capital expenditures (1,089) (999)
Cash paid for purchase of businesses, net of cash acquired (19) (5)
Proceeds from corporate owned life insurance 11 3
Proceeds from sale of property, plant and equipment 19 0
Other 3 5
Net cash used for investing activities (1,075) (996)
Financing activities:    
Additions to debt 48 498
Repayments of debt (48) (121)
Debt issuance costs (4) (6)
Changes in commercial paper, net 446 (18)
Other debt additions (repayments), net 20 (18)
Repayments of finance lease liabilities (27) (23)
Proceeds from re-issuance of shares from treasury stock 14 0
Tax paid in connection with shares withheld from employees (85) (67)
Cash dividends paid to shareholders (474) (450)
Other 1 1
Net cash used for financing activities (109) (204)
Effect of exchange rate changes on cash and cash equivalents 0 59
Decrease in cash and cash equivalents (215) (77)
Cash and cash equivalents at beginning of period 892 855
Cash and cash equivalents at end of period $ 677 $ 778