v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Cash flows from operating activities:      
Net income (loss) $ 27 $ 32 $ (67)
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
Depreciation and amortization expense 117 232 219
Stock-based compensation expense   23 23
Deferred tax benefit   (1) (25)
Other   (8) 7
Changes in operating assets and liabilities      
Accounts receivable   (63) 18
Other assets   (36) 39
Accounts payable   (44) (151)
Accrued expenses and other liabilities   (28) (31)
Net cash provided by operating activities   107 32
Cash flows from investing activities:      
Capital expenditures   (130) (125)
Proceeds from sale of property and equipment   4 2
Net cash used in investing activities   (126) (123)
Cash flows from financing activities:      
Common stock repurchased and excise tax paid   (18) (200)
Net borrowings under revolving credit facilities   0 8
Repayments of debt   0 (55)
Repayments of finance lease obligations   (25) (24)
Proceeds from exercise of stock options   7 0
Taxes paid related to net share settlement of equity awards   (17) (7)
Net obligations under factoring arrangements   (10) (12)
Net changes in bank overdraft positions   1 64
Other   0 (1)
Net cash used in financing activities   (62) (227)
Effect of exchange rates on cash and cash equivalents   (3) 40
Net decrease in cash, restricted cash and cash equivalents   (84) (278)
Cash, restricted cash and cash equivalents, beginning of period   857 485
Cash, restricted cash and cash equivalents, end of period 773 773 207
Non-cash financing activities:      
Excise tax liability related to stock repurchases   0 2
Reconciliation of cash, restricted cash and cash equivalents      
Cash and cash equivalents 769 769  
Restricted Cash (included in Other current assets) 3 3  
Restricted Cash (included in Other long-term assets) 1 1  
Total cash, restricted cash and cash equivalents $ 773 $ 773 $ 207