Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net earnings (loss) $ 5 $ 245
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
(Earnings) loss from discontinued operations   (241)
Depreciation and amortization 77 86
Stock-based compensation 2 13
Share of (earnings) loss of affiliates, net (1) 24
Realized and unrealized (gains) losses on financial instruments, net (65) 21
Deferred income tax expense (benefit) (29) (9)
Intergroup tax allocation   (29)
Other, net   2
Changes in operating assets and liabilities    
Current and other assets (143) (93)
Payables and other liabilities 535 112
Net cash provided (used) by operating activities 381 131
Cash flows from investing activities:    
Investments in equity method affiliates and debt and equity securities (6) (1)
Cash (paid) received for acquisitions, net of cash acquired (131) (205)
Capital expended for property and equipment, including internal-use software and website development (33) (27)
Other investing activities, net (11) (63)
Net cash provided (used) by investing activities (181) (296)
Cash flows from financing activities:    
Repayments of debt (6) (10)
Other financing activities, net (7) 1
Net cash provided (used) by financing activities (13) (9)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 4  
Net cash provided (used) by discontinued operations:    
Cash provided (used) by operating activities 0 264
Cash provided (used) by investing activities 0 (354)
Cash provided (used) by financing activities 0 (73)
Net cash provided (used) by discontinued operations 0 (163)
Net increase (decrease) in cash, cash equivalents and restricted cash 191 (337)
Cash, cash equivalents and restricted cash at beginning of period 2,963 2,028
Cash, cash equivalents and restricted cash at end of period $ 3,154 $ 1,691