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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Consolidated net income $ 1,967 $ 2,147
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 2,093 1,615
Deferred income tax expense (benefit) 241 65
Interest accretion on landfill and environmental remediation liabilities 106 99
Provision for bad debts 61 37
Equity-based compensation expense 135 84
Net gain on disposal of assets (14) (72)
(Gain) loss from divestitures, asset impairments and other, net 239 62
Equity in net (income) loss of unconsolidated entities, net of dividends (11) (4)
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:    
Receivables (453) (230)
Other current assets (75) (38)
Other assets 176 93
Accounts payable and accrued liabilities 35 149
Deferred revenues and other liabilities (155) (128)
Net cash provided by operating activities 4,345 3,879
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired (395) (782)
Capital expenditures (2,339) (2,116)
Proceeds from divestitures of businesses and other assets, net of cash divested 108 99
Other, net (73) (40)
Net cash used in investing activities (2,699) (2,839)
Cash flows from financing activities:    
New borrowings 14,956 10,914
Debt repayments (15,772) (10,619)
Common stock repurchase program   (262)
Cash dividends (1,001) (909)
Exercise of common stock options 54 42
Tax payments associated with equity-based compensation transactions (50) (49)
Other, net (17) (20)
Net cash used in financing activities (1,830) (903)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 5 (2)
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents (179) 135
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 487 552
Cash, cash equivalents and restricted cash and cash equivalents at end of period $ 308 $ 687