v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 814 $ 969 $ 705
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,801 1,637 1,532
Stock-based compensation 462 407 404
Amortization of intangible assets 208 208 205
Amortization of debt issuance costs and debt discounts and premiums 20 19 18
Provision for credit loss allowance 21 15 7
Impairment charges 233 0 0
(Gain) loss on asset sales (18) (5) 4
Loss on debt extinguishment 16 0 0
Other items 32 44 63
Changes in operating assets and liabilities:      
Accounts receivable 27 (150) (154)
Income taxes, net (9) 4 (8)
Other assets (445) (146) (52)
Operating lease right-of-use assets 150 139 149
Operating lease liabilities (153) (128) (133)
Accounts payable and accrued expenses 95 161 114
Other liabilities (5) 43 109
Net cash provided by operating activities 3,249 3,217 2,963
Cash flows from investing activities:      
Purchases of equity investments (98) (136) (145)
Distributions from equity investments 11 0 0
Sales of equity investments 0 0 22
Purchases of short-term investments (520) 0 0
Business acquisitions, net of cash and restricted cash acquired 0 0 (964)
Real estate acquisitions (337) (384) (248)
Purchases of other property, plant and equipment (3,066) (2,781) (2,278)
Proceeds from sale of assets, net of cash transferred 247 77 250
Settlement of foreign currency hedges 83 0 0
Investment in loan receivable (261) 0 0
Loan receivable upfront fee 4 0 0
Net cash used in investing activities (3,937) (3,224) (3,363)
Cash flows from financing activities:      
Proceeds from employee equity awards 91 87 82
Payment of dividends (1,643) (1,375) (1,152)
Proceeds from public offering of common stock, net of issuance costs 1,673 734 796
Proceeds from senior notes, net of debt discounts 2,768 902 1,194
Proceeds from mortgage and loans payable 0 0 677
Repayment of senior notes (1,000) 0 0
Repayments of finance lease liabilities (140) (149) (134)
Contribution from non-controlling interest 4 25 0
Repayments of mortgage and loans payable (7) (6) (588)
Debt issuance costs (23) (7) (18)
Net cash provided by financing activities 1,723 211 857
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash (49) (16) (98)
Net increase (decrease) in cash, cash equivalents and restricted cash 986 188 359
Cash, cash equivalents and restricted cash at beginning of period 2,096 1,908 1,549
Cash, cash equivalents and restricted cash at end of period 3,082 2,096 1,908
Supplemental cash flow information      
Cash paid for taxes, net 185 153 140
Cash paid for interest, net of amounts capitalized 486 445 412
Cash and cash equivalents 3,081 2,096 1,906
Current portion of restricted cash included in other current assets 1 0 2
Total cash, cash equivalents, and restricted cash shown in the consolidated statement of cash flows $ 3,082 $ 2,096 $ 1,908

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