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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Consolidated net income $ 637 $ 707
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 656 514
Deferred income tax expense (benefit) 59 57
Interest accretion on landfill and environmental remediation liabilities 35 33
Provision for bad debts 19 10
Equity-based compensation expense 51 30
Net gain on disposal of assets (9) (10)
(Gain) loss from divestitures, asset impairments and other, net 2 (2)
Equity in net (income) loss of unconsolidated entities, net of dividends (5) 19
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:    
Receivables 51 176
Other current assets (91) (45)
Other assets 61 (4)
Accounts payable and accrued liabilities (287) (102)
Deferred revenues and other liabilities 29 (16)
Net cash provided by operating activities 1,208 1,367
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired (3) (11)
Capital expenditures (831) (668)
Proceeds from divestitures of businesses and other assets, net of cash divested 98 15
Other, net (93) (91)
Net cash used in investing activities (829) (755)
Cash flows from financing activities:    
New borrowings 4,993 4,412
Debt repayments (5,163) (4,570)
Common stock repurchase program   (250)
Cash dividends (336) (307)
Exercise of common stock options 25 32
Tax payments associated with equity-based compensation transactions (45) (48)
Other, net (10) (6)
Net cash used in financing activities (536) (737)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 1 (2)
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents (156) (127)
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 $ 331 $ 425