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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Consolidated net income $ 1,058 $ 1,224
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Depreciation and amortization 1,235 1,179
Deferred income tax benefit 61 29
Interest accretion on landfill liabilities 75 72
Provision for bad debts 40 27
Equity-based compensation expense 74 62
Net gain on disposal of assets (10) (19)
(Gain) loss from divestitures, asset impairments and other, net 76 79
Equity in net losses of unconsolidated entities, net of dividends 48 39
Loss on early extinguishment of debt 52 85
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:    
Receivables 76 (2)
Other current assets (47) (52)
Other assets 41 7
Accounts payable and accrued liabilities (62) 213
Deferred revenues and other liabilities (67) (91)
Net cash provided by operating activities 2,650 2,852
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired (3) (513)
Capital expenditures (1,238) (1,532)
Proceeds from divestitures of businesses and other assets (net of cash divested) 20 29
Other, net (20) (80)
Net cash used in investing activities (1,241) (2,096)
Cash flows from financing activities:    
New borrowings 231 4,558
Debt repayments (3,942) (502)
Premiums paid on early extinguishment of debt (30) (84)
Net commercial paper borrowings (repayments) 597 (1,001)
Common stock repurchase program (402) (248)
Cash dividends (696) (658)
Exercise of common stock options 49 60
Tax payments associated with equity-based compensation transactions (34) (32)
Other, net (17) (13)
Net cash provided by (used in) financing activities (4,244) 2,080
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 1 1
(Decrease) increase in cash, cash equivalents and restricted cash and cash equivalents (2,834) 2,837
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 $ 813 $ 3,020