Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements Of Cash Flows

v3.26.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net earnings (loss) $ 53 $ 5
Adjustments to reconcile net earnings to net cash provided by operating activities:    
(Earnings) loss from discontinued operations   12
Depreciation and amortization 112 77
Stock-based compensation 5 2
Realized and unrealized (gains) losses on financial instruments, net (57) (75)
Deferred income tax expense (benefit) 6 (27)
Other charges (credits), net 8 2
Changes in operating assets and liabilities    
Current and other assets (279) (143)
Payables and other liabilities 509 538
Net cash provided (used) by operating activities 357 391
Cash flows from investing activities:    
Capital expended for property and equipment, including internal-use software and website development (20) (33)
Cash (paid) received for acquisitions, net of cash acquired   (131)
Investments in equity method affiliates and debt and equity securities (4) (5)
Other investing activities, net (1) (11)
Net cash provided (used) by investing activities (25) (180)
Cash flows from financing activities:    
Repayments of debt (13) (6)
Other financing activities, net (39) (7)
Net cash provided (used) by financing activities (52) (13)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (3) 4
Net cash provided (used) by discontinued operations:    
Cash provided (used) by operating activities 0 (10)
Cash provided (used) by investing activities 0 (1)
Net cash provided (used) by discontinued operations 0 (11)
Net increase (decrease) in cash, cash equivalents and restricted cash 277 191
Cash, cash equivalents and restricted cash at beginning of period 1,055 2,963
Cash, cash equivalents and restricted cash at end of period $ 1,332 $ 3,154