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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 $ 921 $ 908 $ 1,015
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 493 439 437
Provision for credit losses 5 1 3
Deferred income tax provision (benefit) 13 (49) 1
Stock-based compensation expense 88 77 77
Other, net 15 41 66
Changes in operating assets and liabilities:      
Accounts receivable (71) (15) 246
Accounts payable and accrued expenses (67) (55) (149)
Income taxes payable 16 (2) (31)
Other assets and liabilities, net (79) (73) 53
Net cash provided by operating activities 1,334 1,272 1,718
Cash flows from investing activities:      
Business acquisitions, net of cash acquired (2,164) (611) (144)
Capital expenditures (425) (408) (404)
Other investing activities, net 41 (42) 5
Net cash used in investing activities (2,548) (1,061) (543)
Cash flows from financing activities:      
Proceeds from borrowings 1,846 2,592 0
Repayments of debt (303) (1,844) (2)
Purchases of treasury stock (151) (275) (1,408)
Exercise of stock options 73 72 123
Employee payroll tax withholdings on stock issued under stock-based compensation plans (24) (28) (28)
Dividends paid (331) (314) (305)
Distributions to noncontrolling interest partners (47) (57) (73)
Other financing activities, net 21 14 (39)
Net cash provided by (used in) financing activities 1,084 160 (1,732)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (7) 0 0
Net change in cash and cash equivalents and restricted cash (137) 371 (557)
Cash and cash equivalents and restricted cash, beginning of year 686 315 872
Cash and cash equivalents and restricted cash, end of year $ 549 $ 686 $ 315