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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:        
Net income $ 177 $ 164    
Adjustments to reconcile net income to net cash provided by operating activities 225 196    
Changes in working capital accounts, excluding the effects of acquisition (111) (48)    
Net cash provided by operating activities 291 312    
Cash flows from investing activities:        
Capital expenditures (139) (153)    
Acquisitions of businesses and assets, net of cash acquired (861) (5)    
Net cash used in investing activities (1,000) (158)    
Cash flows from financing activities:        
Borrowings under revolving credit facility 365 0    
Repayments under revolving credit facility 170 0    
Proceeds from issuance of senior notes and term loans 800 0    
Payments on long-term debt (11) (5)    
Payments of debt issuance and deferred financing costs (5) (2)    
Payments on license obligations (12) (14)    
Payments of contingent acquisition considerations 2 14    
Purchase of L&W common stock (270) (175)    
Net redemptions of common stock under stock-based compensation plans and other (35) (40)    
Net cash provided by (used in) financing activities 660 (250)    
Effect of exchange rate changes on cash, cash equivalents and restricted cash 8 (3)    
Decrease in cash, cash equivalents and restricted cash (41) (99)    
Cash, cash equivalents and restricted cash, beginning of period     $ 312 $ 521
Cash, cash equivalents and restricted cash, end of period 271 422    
Supplemental cash flow information:        
Cash paid for interest 137 146    
Income taxes paid 71 70    
Cash paid for contingent acquisition considerations included in operating activities 0 22    
Supplemental non-cash transactions:        
Non-cash interest expense $ 5 $ 5