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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Consolidated net income $ 668 $ 729
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Depreciation and amortization 816 775
Deferred income tax benefit (35) (12)
Interest accretion on landfill liabilities 49 47
Provision for bad debts 36 19
Equity-based compensation expense 23 43
Net gain on disposal of assets (7) (5)
(Gain) loss from divestitures, asset impairments and other, net 68 78
Equity in net losses of unconsolidated entities, net of dividends 33 25
Loss on early extinguishment of debt   84
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:    
Receivables 185 19
Other current assets (1) (5)
Other assets 14 4
Accounts payable and accrued liabilities (171) 127
Deferred revenues and other liabilities (57) (28)
Net cash provided by operating activities 1,621 1,900
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired (1) (440)
Capital expenditures (895) (1,049)
Proceeds from divestitures of businesses and other assets (net of cash divested) 15 20
Other, net (37) (96)
Net cash used in investing activities (918) (1,565)
Cash flows from financing activities:    
New borrowings   3,971
Debt repayments (705) (385)
Premiums paid on early extinguishment of debt   (84)
Net commercial paper borrowings (repayments)   (1,001)
Common stock repurchase program (402) (248)
Cash dividends (466) (440)
Exercise of common stock options 42 45
Tax payments associated with equity-based compensation transactions (34) (30)
Other, net (10) (6)
Net cash provided by (used in) financing activities (1,575) 1,822
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents (3) 2
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents (875) 2,159
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 3,647 183
Cash, cash equivalents and restricted cash and cash equivalents at end of period $ 2,772 $ 2,342