XML 16 R5.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:        
Net (loss) income $ (2) $ 67 $ (59) $ 96
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Depreciation and amortization 122 64 191 129
Gain on sales of assets, net (1) 0 (1) 0
Gain on derecognition of assets (16) (15) (32) (29)
Impairment loss     70 12
Equity in earnings from investments in affiliates (2) (1) (2) (1)
Other loss, net     1 3
Share-based compensation expense     9 9
Amortization of deferred financing costs     4 4
Distributions from unconsolidated affiliates     1 0
Deferred income taxes     0 (13)
Changes in operating assets and liabilities     12 (1)
Net cash provided by operating activities     194 209
Investing Activities:        
Capital expenditures for property and equipment     (120) (121)
Proceeds from asset dispositions, net     75 0
Net cash used in investing activities     (45) (121)
Financing Activities:        
Proceeds from issuance of Senior Notes     0 550
Repurchase or redemption of Senior Notes     0 (650)
Borrowings from credit facilities     0 200
Repayments of mortgage debt     (4) (4)
Debt issuance costs     0 (11)
Dividends paid     (181) (407)
Distributions to noncontrolling interests, net     (8) (2)
Tax withholdings on share-based compensation     (4) (5)
Repurchase of common stock     (45) (25)
Net cash used in financing activities     (242) (354)
Net decrease in cash and cash equivalents and restricted cash     (93) (266)
Cash and cash equivalents and restricted cash, beginning of period     440 750
Cash and cash equivalents and restricted cash, end of period 347 484 347 484
Non-cash investing and financing activities:        
Dividends declared but unpaid $ 50 $ 52 50 52
Capital Expenditures Incurred but Not yet Paid     $ 30 $ 16