XML 65 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2014
USD ($)
Jun. 30, 2013
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 649 $ 524
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses and investments, net (8) 0
Depreciation of fixed assets 122 118
Amortization of intangible assets 173 198
Share-based compensation expense 175 137
Deferred income taxes 18 24
Change in assets and liabilities:    
Fiduciary receivables (563) (654)
Short term investments - funds held on behalf of clients (175) (212)
Fiduciary liabilities 738 866
Receivables, net 115 191
Accounts payable and accrued liabilities (492) (431)
Restructuring reserves (62) (5)
Current income taxes (145) (110)
Pension, other post-retirement and other post-employment liabilities (226) (291)
Other assets and liabilities 14 32
CASH PROVIDED BY OPERATING ACTIVITIES 333 387
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of long-term investments 48 23
Purchases of long-term investments (14) (6)
Net sales of short-term investments - non-fiduciary 217 29
Acquisition of businesses, net of cash acquired (83) (23)
Proceeds from sale of businesses 1 1
Capital expenditures (115) (122)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES 54 (98)
CASH FLOWS FROM FINANCING ACTIVITIES    
Share repurchase (1,250) (525)
Issuance of shares for employee benefit plans 40 57
Issuance of debt 3,324 2,914
Repayment of debt (1,745) (2,607)
Deposit with trustee (681) 0
Cash dividends to shareholders (128) (105)
Purchase of shares from noncontrolling interests 1 0
Dividends paid to noncontrolling interests 10 6
CASH USED FOR FINANCING ACTIVITIES (449) (272)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 3 (42)
NET DECREASE IN CASH AND CASH EQUIVALENTS (59) (25)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 477 291
CASH AND CASH EQUIVALENTS AT END OF PERIOD 418 266
Supplemental disclosures:    
Interest paid 82 121
Income taxes paid, net of refunds $ 204 $ 237