v3.26.1
Condensed Consolidated Statements of Cash Flows
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Operating Activities:        
Net income (loss) $ 50 $ (2) $ 62 $ (59)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 66 122 130 191
Loss (gain) on sales of assets, net 2 (1) 3 (1)
Gain on derecognition of assets 0 (16) 0 (32)
Impairment loss     25 70
Equity in earnings from investments in affiliates (1) (2) (2) (2)
Other (gain) loss, net     (3) 1
Share-based compensation expense     10 9
Amortization of deferred financing costs     4 4
Distributions from unconsolidated affiliates     5 1
Deferred income taxes     3 0
Changes in operating assets and liabilities     (37) 12
Net cash provided by operating activities     200 194
Investing Activities:        
Capital expenditures for property and equipment     (147) (120)
Proceeds from asset dispositions, net     28 75
Proceeds from the sale of investments in affiliates, net     3 0
Net cash used in investing activities     (116) (45)
Financing Activities:        
Borrowings from credit facilities     250 0
Repayments of Lines of Credit     (50) 0
Repayments of mortgage debt     (124) (4)
Debt issuance costs     (7) 0
Dividends paid     (100) (181)
Distributions to noncontrolling interests     (6) (8)
Tax withholdings on share-based compensation     (9) (4)
Repurchase of common stock     0 (45)
Net cash used in financing activities     (46) (242)
Net increase (decrease) in cash and cash equivalents and restricted cash     38 (93)
Cash and cash equivalents and restricted cash, beginning of period     264 440
Cash and cash equivalents and restricted cash, end of period 302 347 302 347
Non-cash investing and financing activities:        
Accrued capital expenditures     25 30
Dividends declared but unpaid $ 50 $ 50 $ 50 $ 50