v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net income $ 1,017 $ 685
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 702 603
Amortization of purchased intangibles 46 56
Share-based compensation expense 250 117
Translation (gain) loss on foreign denominated debt, net (5) 70
Deferred tax benefit (101) (39)
Translated earnings contract gain, net (74) (30)
Changes in assets and liabilities:    
Trade accounts receivable (255) (203)
Inventories (377) (238)
Other current assets (144) (105)
Accounts payable and other current liabilities 195 (59)
Customer deposits and government incentives 709 43
Deferred income (102) (70)
Other, net 218 29
Net cash provided by operating activities 2,079 859
Cash Flows from Investing Activities:    
Capital expenditures (754) (516)
Proceeds from government incentives 8
Realized gains on translated earnings contracts and other 278 107
Premiums paid on hedging contracts (102) (34)
Other, net 8 (23)
Net cash used in investing activities (562) (466)
Cash Flows from Financing Activities:    
Repayments of debt (691) (279)
Proceeds from issuance of debt and short-term borrowings 449 285
Proceeds from cross currency swap 24
Proceeds from warrants 500
Payments of employee withholding tax on stock awards (279) (70)
Proceeds from exercise of stock options 23 12
Purchases of common stock for treasury (133)
Dividends paid (495) (503)
Other, net (79) (32)
Net cash used in financing activities (572) (696)
Effect of exchange rates on cash 26
Net increase (decrease) in cash and cash equivalents and restricted cash 945 (277)
Cash and cash equivalents and restricted cash at beginning of period 1,566 1,768
Cash and cash equivalents and restricted cash at end of period 2,511 1,491
Restricted cash included in other current assets 7
Cash and cash equivalents at end of period $ 2,504 $ 1,491