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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Consolidated net income $ 2,276 $ 2,240 $ 1,817
Adjustments to reconcile consolidated net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 2,071 2,038 1,999
Deferred income tax expense (benefit) 83 49 (77)
Interest accretion on landfill and environmental remediation liabilities 130 112 111
Provision for bad debts 56 50 37
Equity-based compensation expense 93 84 108
Net gain on disposal of assets (42) (21) (25)
Goodwill impairment 168    
(Gain) loss from divestitures, asset impairments (other than goodwill) and other, net 75 62 (16)
Equity in net losses of unconsolidated entities, net of dividends 60 67 38
Loss on early extinguishment of debt, net     220
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:      
Receivables (161) (329) 28
Other current assets (2) (35) (39)
Other assets 61 42 34
Accounts payable and accrued liabilities 90 393 206
Deferred revenues and other liabilities (239) (216) (103)
Net cash provided by operating activities 4,719 4,536 4,338
Cash flows from investing activities:      
Acquisitions of businesses, net of cash acquired (170) (377) (75)
Capital expenditures (2,895) (2,587) (1,904)
Proceeds from divestitures of businesses and other assets, net of cash divested 78 27 96
Other, net (104) (126) (11)
Net cash used in investing activities (3,091) (3,063) (1,894)
Cash flows from financing activities:      
New borrowings 21,306 8,688 7,948
Debt repayments (20,394) (7,328) (8,404)
Premiums and other paid on early extinguishment of debt     (211)
Common stock repurchase program (1,302) (1,500) (1,350)
Cash dividends (1,136) (1,077) (970)
Exercise of common stock options 44 44 66
Tax payments associated with equity-based compensation transactions (31) (39) (28)
Other, net (11) (4) 49
Net cash used in financing activities (1,524) (1,216) (2,900)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 3 (6) 2
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 107 251 (454)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 445 194 648
Cash, cash equivalents and restricted cash and cash equivalents at end of period $ 552 $ 445 $ 194