v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 293 $ 387
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 121 57
Amortization expense 44 3
Stock-based compensation 17 14
Unrealized loss (gain) on marketable securities 9 (8)
Amortization of deferred financing fees 9 0
Inventory obsolescence 7 3
Deferred income taxes (3) (3)
Other 1 1
Changes in operating assets and liabilities, net of effects of the Acquisition    
Accounts receivable (236) (8)
Inventories 34 (23)
Accounts payable 212 8
Other assets and liabilities (40) (66)
Net cash provided by operating activities 468 365
CASH FLOWS FROM INVESTING ACTIVITIES:    
Business acquisition, net of cash acquired (2,529) 0
Additions of long-lived assets (84) (57)
Proceeds from cross currency swaps 4 0
Payments on cross currency swaps (4) 0
Investment in equities without a readily determinable fair value (2) 0
Investment in equity method investee (1) (2)
Net cash used for investing activities (2,616) (59)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of long-term debt 1,200 0
Proceeds from revolving credit facility 300 0
Payments on revolving credit facility (300) 0
Repurchases of common stock (66) (255)
Dividend payments (49) (46)
Debt financing fees (19) (5)
Taxes paid related to net share settlement of equity awards (15) (15)
Proceeds from exercise of stock options 11 7
Payments on long-term debt (6) (2)
Net cash provided by (used for) financing activities 1,056 (316)
Effect of exchange rate changes on cash (4) 7
Net decrease in cash and cash equivalents (1,096) (3)
Cash and cash equivalents at beginning of period 1,495 781
Cash and cash equivalents at end of period 399 778
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest paid (107) (60)
Income taxes paid (95) (95)
Interest received from interest rate swaps 0 4
Non-cash investing activities:    
Capital expenditures in liabilities $ 26 $ 17