v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 204 $ 241
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 144 155
Non-cash impairment and restructuring costs 13 1
Non-cash interest expense, net of amortization of premium 4 4
Realized and unrealized losses (gains) on financial instruments, net 3 (18)
Share of losses of equity method investments, net 30 15
Share-based payment expense 50 48
Deferred income tax benefit (24) (17)
Amortization of right-of-use assets 11 11
Other charges, net 12 13
Changes in operating assets and liabilities:    
Receivables and other assets 45 42
Deferred revenue 0 (37)
Payables and other liabilities (250) (194)
Net cash provided by operating activities 242 264
Cash flows from investing activities:    
Additions to property and equipment (189) (174)
Other investing activities, net (46) (180)
Net cash used in investing activities (235) (354)
Cash flows from financing activities:    
Taxes paid from net share settlements for stock-based compensation (10) (17)
Revolving credit facility borrowings 696 230
Revolving credit facility repayments (596) (200)
Repayments of long-term borrowings (16) (67)
Common stock repurchased and retired (25) 0
Dividends paid (91) (17)
Other financing activities, net 0 (2)
Net cash used in financing activities (42) (73)
Net decrease in cash, cash equivalents and restricted cash (35) (163)
Cash, cash equivalents and restricted cash at beginning of period [1] 170 315
Cash, cash equivalents and restricted cash at end of period [1] 135 152
Cash paid during the period for:    
Interest, net of amounts capitalized 212 222
Income taxes paid 3 2
Non-cash investing and financing activities:    
Tax equity investments $ 11 $ 779
[1] The following table reconciles cash, cash equivalents and restricted cash per the statement of cash flows to the balance sheet. The restricted cash balances are primarily due to letters of credit which have been issued to the landlords of leased office space. The terms of the letters of credit primarily extend beyond one year.
As of March 31,
(in millions) 2025 2024
Cash and cash equivalents $ 127  $ 135 
Restricted cash included in Prepaid expenses and other current assets —  8 
Restricted cash included in Other long-term assets 8  9 
Total cash, cash equivalents and restricted cash at end of period $ 135  $ 152 

Source

PDF HTML 10-Q Filing
ZIP XLS HTML XBRL