v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income (loss) $ (4,736) $ 2,677
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Goodwill impairment 6,452 0
Depreciation and other amortization 1,595 1,365
Amortization of acquisition-related intangible assets 923 993
Amortization of financing costs and debt discounts 36 34
Share-based compensation 345 302
Deferred income taxes (312) (589)
Net gain on disposition of businesses and other assets (191) (117)
Net gain on early debt extinguishment (156) 0
(Income) loss from investments in unconsolidated affiliates (15) 16
Originations of merchant cash advances, held for sale (157) 0
Proceeds from repayments and sales of merchant cash advances, originally classified as held for sale 157 0
Distributions from unconsolidated affiliates 30 34
Non-cash foreign currency exchange losses 23 118
Other non-cash impairment charges 68 5
Other operating activities (9) (10)
Changes in assets and liabilities, net of effects from acquisitions and dispositions:    
Trade accounts receivable 186 (111)
Prepaid expenses and other assets (220) (561)
Contract costs (197) (179)
Accounts payable and other liabilities (740) 117
Contract liabilities 12 24
Net cash provided by operating activities 3,094 4,118
Cash flows from investing activities    
Capital expenditures, including capitalized software and other intangibles (1,438) (1,321)
Proceeds from disposition of businesses and other assets, net of cash disposed 364 0
Merchant cash advances, including Clover Capital program (804) 0
Repayments and sales of merchant cash advances, including Clover Capital program 923 0
Settlement anticipation cash advances, net 108 (614)
Payments for acquisition of businesses, net of cash acquired 0 (369)
Distributions from unconsolidated affiliates 23 17
Purchases of investments (28) (78)
Proceeds from sale of investments 15 486
Other investing activities 5 (18)
Net cash used in investing activities (832) (1,897)
Cash flows from financing activities    
Debt proceeds 3,101 5,753
Debt repayments, including redemption and other costs (5,586) (3,352)
Net borrowings from commercial paper and short-term borrowings 419 1,169
Payments of debt financing costs (3) (20)
Proceeds from issuance of treasury stock 30 53
Purchases of treasury stock, including employee shares withheld for tax obligations (395) (5,695)
Settlement activity, net (1,265) (74)
Distributions paid to noncontrolling interests (2) (2)
Payments to acquire noncontrolling interests of consolidated subsidiaries 0 (436)
Payments of acquisition-related contingent consideration (6) 0
Settlement of derivative contracts 0 65
Other financing activities 8 4
Net cash used in financing activities (3,699) (2,535)
Effect of exchange rate changes on cash and cash equivalents (39) 86
Net change in cash and cash equivalents (1,476) (228)
Cash and cash equivalents, beginning balance 2,802 2,993
Cash and cash equivalents, ending balance $ 1,326 $ 2,765