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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net income $ 1,508 $ 1,155 $ 765
Adjustments to reconcile net income to cash provided from operations:      
Depreciation and amortization 283 277 272
Deferred income taxes 17 55 108
Restructuring and other charges 84 21 23
Net realized and unrealized losses 22 25 22
Net periodic pension cost (G) 42 40 37
Stock-based compensation 73 63 50
Loss on debt redemption (Q) 15 6 2
Other 8 1 3
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:      
Increase in receivables (L) (109) (57) (164)
Increase in inventories (50) (106) (142)
Increase in prepaid expenses and other current assets (10) (14) (24)
Decrease in accounts payable, trade (73) (49) (7)
Increase in accrued expenses 96 5 37
Decrease in taxes, including income taxes (6) (14) (7)
Pension contributions (70) (79) (36)
Increase in noncurrent assets (14) (3) (4)
Increase (decrease) in noncurrent liabilities 68 (28) (34)
Cash provided from operations 1,884 1,298 901
Financing Activities      
Additions to debt (Q) 500 500 400
Repurchases and payments on debt (Q) (765) (865) (876)
Debt issuance costs (Q) (5) (5) (2)
Premiums paid on early redemption of debt (Q) (15) (5) (1)
Repurchases of common stock (I) (700) (500) (250)
Proceeds from exercise of employee stock options 1 8 11
Dividends paid to shareholders (I) (181) (109) (73)
Taxes paid for net share settlement of equity awards (46) (49) (77)
Redemption of preferred stock (55) 0 0
Other (3) (1) 0
Cash used for financing activities (1,269) (1,026) (868)
Investing Activities      
Capital expenditures (C and S) (453) (321) (219)
Acquisitions, net of cash acquired 0 (5) 0
Proceeds from the sale of assets and businesses (D) 9 9 2
Additions to investments (9) 0 0
Sale of investments 15 0 2
Other 0 1 0
Cash used for investing activities (438) (316) (215)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 (1) 0
Net change in cash, cash equivalents and restricted cash 178 (45) (182)
Cash, cash equivalents and restricted cash at beginning of year 565 610 792
Cash, cash equivalents and restricted cash at end of year $ 743 $ 565 $ 610