v3.26.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash provided by operating activities:    
Net income $ 1,092 $ 1,045
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 1,009 954
Non-cash interest expense 40 37
Deferred tax provision (benefit) 61 (8)
Loss from unconsolidated equity method investments 110 14
Other non-cash items 51 37
Change in assets and liabilities, net of effects from business acquisitions and divestitures:    
Accounts receivable (147) (51)
Prepaid expenses and other assets 41 21
Accounts payable 123 (13)
Capping, closure and post-closure expenditures (27) (21)
Remediation expenditures (26) (19)
Other liabilities 53 138
Cash provided by operating activities 2,380 2,134
Cash used in investing activities:    
Purchases of property and equipment (868) (866)
Proceeds from sales of property and equipment 7 8
Cash used in acquisitions and investments, net of cash and restricted cash acquired (865) (963)
Cash received from business divestitures 2 7
Other (3) (1)
Cash used in investing activities (1,727) (1,815)
Cash used in financing activities:    
Proceeds from credit facilities and notes payable, net of fees 25,683 20,025
Proceeds from issuance of senior notes, net of discount and fees 1,185 1,183
Payments of credit facilities and notes payable (26,394) (21,030)
Issuances of common stock, net (8) (14)
Purchases of common stock for treasury (659) (59)
Cash dividends paid (385) (362)
Contingent consideration payments (17) (3)
Cash used in financing activities (595) (260)
Effect of foreign exchange rate changes on cash (1) 1
Increase in cash, cash equivalents, restricted cash and restricted cash equivalents 57 60
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 249 203
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 306 $ 263