XML 20 R8.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 156 $ 112
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 42 42
Amortization 131 119
Restructuring charges, net of cash paid (4) (2)
Deferred taxes (1) (1)
Share-based compensation expense 23 21
Profit-sharing expense 15 14
Non-cash lease expense 61 56
Net periodic pension cost 12 11
Other, net (2) 2
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (89) (12)
Contract assets (133) (77)
Inventories (9) (3)
Prepaid expenses and other current assets (38) (36)
Accounts payable 15 7
Accrued liabilities and income taxes payable (26) (56)
Contract liabilities 124 37
Other assets and liabilities (109) (89)
Net cash provided by operating activities 168 145
Cash flows from investing activities:    
Acquisitions, net of cash acquired (816) (111)
Purchases of property and equipment (49) (39)
Proceeds from sales of property and equipment 4 10
Net cash used in investing activities (861) (140)
Cash flows from financing activities:    
Net short-term debt 280 0
Proceeds from long-term borrowings 795 0
Payments on long-term borrowings (303) (4)
Payments of debt issuance costs (16) 0
Repurchases of common stock (66) (75)
Payments of acquisition-related consideration (13) (2)
Restricted shares tendered for taxes (38) (20)
Net cash provided by (used in) financing activities 639 (101)
Effect of foreign currency exchange rate change on cash, cash equivalents, and restricted cash (8) 28
Net decrease in cash, cash equivalents, and restricted cash (62) (68)
Cash, cash equivalents, and restricted cash, beginning of period 913 501
Cash, cash equivalents, and restricted cash, end of period 851 433
Supplemental cash flow disclosures:    
Cash paid for interest, net of interest income 60 70
Cash paid for income taxes, net of refunds 55 63
Accrued consideration issued in business combinations 10 9
Shares of common stock issued to profit sharing plan $ 30 $ 24