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 ($)
Operating activities      
Net income $ 46 $ 381 $ 53
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization   48 43
Stock-based compensation expense   62 53
Deferred income taxes   40 4
Loss on Blue Chip Swap 1 1 0
Changes in assets and liabilities:      
Receivables   (5) (59)
Inventories   8 13
Current payables and accrued expenses   (47) (54)
Deferred revenue   28 11
Other assets and liabilities   (9) (13)
Net cash provided by operating activities   507 51
Investing activities      
Expenditures for property and equipment   (11) (5)
Additions to capitalized software   (1) 0
Other investing activities, net   (1) (1)
Net cash used in investing activities   (13) (6)
Financing activities      
Repurchases of common stock   (74) (72)
Repayments of long-term borrowings   (456) (12)
Payments of finance leases   (32) (33)
Other financing activities, net   (7) (2)
Net cash used in financing activities   (569) (119)
Effect of exchange rate changes on cash, cash equivalents and restricted cash   (4) 23
Decrease in cash, cash equivalents and restricted cash   (79) (51)
Cash, cash equivalents and restricted cash at beginning of period   494 421
Cash, cash equivalents and restricted cash at end of period 415 415 370
Supplemental cash flow disclosure:      
Assets acquired under operating lease   3 2
Assets acquired under finance lease   28 52
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets:      
Cash and cash equivalents 414 414  
Restricted cash 1 1  
Total cash, cash equivalents and restricted cash $ 415 $ 415 $ 370