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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 1,381 $ 1,084
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 1,649 1,515
Stock-based compensation 414 370
Impairment charges 25 5
(Gain) loss on asset sales (17) (1)
Other operating activities 30 21
Changes in operating assets and liabilities:    
Accounts receivable (210) (180)
Income taxes, net (44) (91)
Operating lease right-of-use assets 119 122
Operating lease liabilities (119) (113)
Accounts payable and accrued expenses 88 (49)
Other assets and liabilities (289) 84
Net cash provided by operating activities 3,027 2,767
Cash flows from investing activities:    
Purchases of equity investments (1,153) (54)
Distributions from equity investments 105 17
Purchases of short-term investments (972) (1,092)
Maturities and sales of short-term investments 1,254 770
Business acquisitions, net of cash acquired 0 (182)
Real estate acquisitions (234) (391)
Purchases of other property, plant and equipment (4,392) (2,875)
Proceeds from sale of assets, net of cash transferred 415 0
Settlement of foreign currency hedges 101 95
Investment in loan receivable 0 (62)
Net cash used in investing activities (4,876) (3,774)
Cash flows from financing activities:    
Proceeds from employee equity programs 90 95
Payment of dividends (1,547) (1,395)
Proceeds from public offering of common stock, net of issuance costs 0 99
Proceeds from senior notes, net of debt discounts 5,399 2,566
Repayment of finance lease liabilities (129) (111)
Repayment of other debt (686) (1)
Contribution from non-controlling interest 0 3
Repayment of senior notes (700) (1,200)
Other financing activities 6 (9)
Net cash provided by financing activities 2,433 47
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash (10) 43
Net increase (decrease) in cash, cash equivalents and restricted cash 574 (917)
Cash, cash equivalents and restricted cash at beginning of period 1,824 3,082
Cash, cash equivalents and restricted cash at end of period 2,398 2,165
Cash and cash equivalents 2,362 2,077
Current portion of restricted cash included in other current assets 1 60
Non-current portion of restricted cash included in other assets 35 28
Total cash, cash equivalents and restricted cash at end of period $ 2,398 $ 2,165