v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING CASH FLOW    
Net earnings $ 289 $ 2,206
Adjustments to reconcile net earnings to operating cash flow:    
Equity method earnings, net of taxes (62) (2,135)
Depreciation 32 35
Gain on sales of assets (including the sale of CFHI in 2026) (124) (8)
Stock-based compensation 22 17
Deferred taxes (20) (6)
Changes in assets and liabilities (359) (405)
Other 15 (11)
Operating cash flow [1] (207) (307)
INVESTING CASH FLOW    
Proceeds from the sale of NuScale shares 1,831 0
Purchases of marketable securities (126) (80)
Proceeds from sales and maturities of marketable securities 67 114
Capital expenditures (18) (25)
Proceeds from sales of assets (including the sale of CFHI in 2026) 124 62
Investments in partnerships and joint ventures (101) (135)
Other 6 3
Investing cash flow 1,783 (61)
FINANCING CASH FLOW    
Repurchase of common stock (816) (295)
Purchase and retirement of debt 0 (36)
Distributions paid to NCI (31) 0
Capital contributions by NCI 82 0
Other (1) (10)
Financing cash flow (766) (341)
Effect of exchange rate changes on cash (22) 52
Increase (decrease) in cash and cash equivalents 788 (657)
Cash and cash equivalents at beginning of period 2,135 2,829
Cash and cash equivalents at end of period 2,923 2,172
SUPPLEMENTAL INFORMATION:    
Cash paid for interest 18 19
Cash paid for income taxes (net of refunds) $ 418 $ 83
[1] Operating cash flow in the 2026 Period included federal and state tax payments totaling $357 million primarily related to the 2025 conversion of our shares in NuScale, reflected in changes in assets and liabilities.