v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 343 $ 231
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 431 474
Stock-based compensation 113 101
Amortization of intangible assets 48 52
Amortization of debt issuance costs and debt discounts 5 5
Provision for credit loss allowance 3 1
(Gain) loss on debt extinguishment 0 1
Other items (8) 4
Changes in operating assets and liabilities:    
Accounts receivable (133) (85)
Income taxes, net (2) (9)
Other assets 164 (77)
Operating lease right-of-use assets 42 38
Operating lease liabilities (39) (32)
Accounts payable and accrued expenses (149) (56)
Other liabilities (9) (50)
Net cash provided by operating activities 809 598
Cash flows from investing activities:    
Purchases of equity investments (43) (3)
Distributions from equity investments 4 0
Purchases of short-term investments (190) 0
Real estate acquisitions (17) (17)
Purchases of other property, plant and equipment (750) (707)
Settlement of foreign currency hedges 32 0
Net cash used in investing activities (964) (727)
Cash flows from financing activities:    
Proceeds from employee equity programs 50 48
Payment of dividends (468) (412)
Proceeds from public offering of common stock, net of issuance costs 99 0
Proceeds from senior notes, net of debt discounts 370 0
Repayment of finance lease liabilities (32) (31)
Repayment of mortgage and loans payable (1) (2)
Debt issuance costs (3) 0
Net cash provided by (used in) financing activities 15 (397)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash 20 (40)
Net decrease in cash, cash equivalents and restricted cash (120) (566)
Cash, cash equivalents and restricted cash at beginning of period 3,082 2,096
Cash, cash equivalents and restricted cash at end of period 2,962 1,530
Cash and cash equivalents 2,950 1,527
Current portion of restricted cash included in other current assets 12 3
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 2,962 $ 1,530

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