v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows from Operating Activities:    
Net Income $ 3 $ 373
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation and Amortization 436 387
Amortization of Deferred Debt Issuance Costs 5 4
Deferred Income Taxes (8) 91
Amount of Postretirement Expense Less Than Funding (3) (5)
Share-Based Compensation Expense, Net 22 0
Asset Impairment Charges 69 0
Other, Net 2 (10)
Changes in Operating Assets and Liabilities (231) (520)
Net Cash Provided by Operating Activities 295 320
Cash Flows from Investing Activities:    
Capital Spending (287) (808)
Acquisition of Businesses 0 (29)
Proceeds from the Sale of Business and Properties, Net of Cash and Cash Equivalents Sold 8 15
Beneficial Interest on Sold Receivables 445 170
Beneficial Interest Obtained in Exchange for Proceeds (218) (79)
Other, Net 4 (5)
Net Cash Used in Investing Activities (48) (736)
Cash Flows from Financing Activities:    
Repurchase of Common Stock 0 (150)
Proceeds from Issuance of Debt 662 99
Payments on Debt (14) (9)
Retirement of Long-Term Debt (400) 0
Borrowings under Revolving Credit Facilities 2,460 2,824
Payments on Revolving Credit Facilities (2,752) (2,261)
Repurchase of Common Stock related to Share-Based Payments (5) (34)
Debt Issuance Costs (6) (1)
Dividends Paid (98) (96)
Other, Net (15) (6)
Net Cash (Used in) Provided by Financing Activities (168) 366
Increase (Decrease) in Cash and Cash Equivalents 79 (50)
Effect of Exchange Rate Changes on Cash (3) 13
Net Increase (Decrease) in Cash and Cash Equivalents 76 (37)
Cash and Cash Equivalents at Beginning of Period 261 157
Cash and Cash Equivalents at End of Period 337 120
Non-cash Investing Activities:    
Beneficial Interest Obtained in Exchange for Trade Receivables 234 122
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities $ 78 $ 32

Source

10-Q PDF XBRL Zip