Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net earnings (loss) $ 209 $ 752
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
(Earnings) loss from discontinued operations   (590)
Depreciation and amortization 157 175
Stock-based compensation 10 20
Share of (earnings) loss of affiliates, net (72) (59)
Realized and unrealized (gains) losses on financial instruments, net 64 (66)
Deferred income tax expense (benefit) (42) 15
Intergroup tax allocation   (59)
Intergroup tax (payments) receipts   83
Other, net (32) 1
Changes in operating assets and liabilities    
Current and other assets (147) (77)
Payables and other liabilities 465 199
Net cash provided (used) by operating activities 612 394
Cash flows from investing activities:    
Investments in equity method affiliates and debt and equity securities (17) (1)
Cash proceeds from dispositions 26 107
Cash (paid) received for acquisitions, net of cash acquired (131) (205)
Capital expended for property and equipment, including internal-use software and website development (55) (40)
Cash proceeds from foreign currency forward contracts 71  
Other investing activities, net (14) (61)
Net cash provided (used) by investing activities (120) (200)
Cash flows from financing activities:    
Borrowings of debt   10
Repayments of debt (11) (31)
Other financing activities, net 19 27
Net cash provided (used) by financing activities 8 6
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 9 (8)
Net cash provided (used) by discontinued operations:    
Cash provided (used) by operating activities 0 753
Cash provided (used) by investing activities 0 (550)
Cash provided (used) by financing activities 0 (314)
Net cash provided (used) by discontinued operations 0 (111)
Net increase (decrease) in cash, cash equivalents and restricted cash 509 81
Cash, cash equivalents and restricted cash at beginning of period 2,963 2,028
Cash, cash equivalents and restricted cash at end of period $ 3,472 $ 2,109