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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 20 $ 40
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27 28
Stock-based compensation expense 34 28
Deferred income taxes 12 7
Loss on Blue Chip Swap 2 0
Changes in assets and liabilities:    
Receivables (25) 23
Inventories (3) 1
Current payables and accrued expenses (30) (41)
Deferred revenue (6) 41
Other assets and liabilities (4) (18)
Net cash provided by operating activities 27 109
Investing activities    
Expenditures for property and equipment (6) (4)
Other investing activities, net (2) 0
Net cash used in investing activities (8) (4)
Financing activities    
Repurchases of common stock (124) (84)
Payments of finance leases (20) (20)
Other financing activities, net (6) (7)
Net cash used in financing activities (150) (111)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (17) (10)
Decrease in cash, cash equivalents and restricted cash (148) (16)
Cash, cash equivalents and restricted cash at beginning of period 486 571
Cash, cash equivalents and restricted cash at end of period 338 555
Supplemental cash flow disclosure:    
Assets acquired under operating lease 0 1
Assets acquired under finance lease 11 30
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets:    
Cash and cash equivalents 337  
Restricted cash 1  
Total cash, cash equivalents and restricted cash $ 338 $ 555