XML 26 R7.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income (loss) including noncontrolling interests $ (2,180.2) $ 1,157.7 $ 956.4
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Depreciation and amortization 711.3 759.4 682.8
Amortization of cloud computing arrangements 14.4 11.3 7.9
Amortization of debt issuance costs and discounts 5.1 5.3 5.7
Interest expense related to mandatorily redeemable noncontrolling interest 0.0 46.5 0.0
Share-based compensation 35.0 43.1 44.9
Goodwill impairment 3,645.7 0.0 0.0
(Gain) loss on sale or impairment of property, plant, equipment and other assets, net 262.6 51.8 181.9
Unrealized (gain) loss on foreign currency fluctuations and derivative instruments, net (81.7) (28.7) 88.3
Equity (income) loss (13.4) (2.7) (12.0)
Income tax (benefit) expense (337.8) 345.3 296.1
Income tax (paid) received (131.4) (227.1) (244.8)
Interest expense, excluding amortization of debt issuance costs and discounts and mandatorily redeemable noncontrolling interest 242.8 230.9 228.3
Interest paid (240.7) (216.0) (229.0)
Other non-cash items, net (0.6) (77.1) 0.0
Change in current assets and liabilities (net of impact of business combinations) and other      
Receivables 48.3 39.6 (0.7)
Inventories 65.2 55.1 21.7
Payables and other current liabilities (285.4) (234.4) 50.2
Other assets and other liabilities 25.2 (49.7) 1.3
Net cash provided by (used in) operating activities 1,784.4 1,910.3 2,079.0
Cash flows from investing activities      
Additions to property, plant and equipment (716.6) (674.1) (671.5)
Proceeds from sales of property, plant, equipment and other assets 15.8 24.5 10.9
Acquisition of business, net of cash acquired (22.3) (8.6) (63.7)
Other, net (99.0) 10.2 (117.4)
Net cash provided by (used in) investing activities (822.1) (648.0) (841.7)
Cash flows from financing activities      
Dividends paid (376.3) (369.2) (354.7)
Payments for purchases of treasury stock (647.9) (643.4) (205.8)
Payments on debt and borrowings (12.8) (883.8) (404.8)
Proceeds on debt and borrowings 0.0 863.7 7.0
Other, net (19.8) (105.7) (23.1)
Net cash provided by (used in) financing activities (1,056.8) (1,138.4) (981.4)
Effect of foreign exchange rate changes on cash and cash equivalents 21.7 (23.5) 13.0
Net increase (decrease) in cash and cash equivalents (72.8) 100.4 268.9
Balance at beginning of year 969.3 868.9 600.0
Balance at end of year $ 896.5 $ 969.3 $ 868.9