XML 61 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 964 $ 788
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses and investments, net (41) (28)
Depreciation of fixed assets 183 177
Amortization of intangible assets 263 296
Share-based compensation expense 247 207
Deferred income taxes 77 100
Change in assets and liabilities:    
Fiduciary receivables 988 684
Short term investments - funds held on behalf of clients (177) (369)
Fiduciary liabilities (811) (315)
Receivables, net 220 374
Accounts payable and accrued liabilities (408) (330)
Restructuring reserves (75) (7)
Current income taxes (211) (197)
Pension, other post-retirement and other post-employment liabilities (299) (401)
Other assets and liabilities (37) 5
CASH PROVIDED BY OPERATING ACTIVITIES 883 984
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of long-term investments 51 81
Purchases of long-term investments (19) (13)
Net sales (purchases) of short-term investments - non-fiduciary 301 (13)
Acquisition of businesses, net of cash acquired (464) (26)
Proceeds from sale of businesses 48 6
Capital expenditures (179) (174)
CASH USED FOR INVESTING ACTIVITIES (262) (139)
CASH FLOWS FROM FINANCING ACTIVITIES    
Share repurchase (1,750) (1,025)
Issuance of shares for employee benefit plans 58 84
Issuance of debt 4,255 4,270
Repayment of debt (3,073) (3,870)
Cash dividends to shareholders (201) (159)
Sales (purchases) of shares to (from) noncontrolling interests (1) 6
Dividends paid to noncontrolling interests 18 13
Proceeds from sale-leaseback 25 0
CASH USED FOR FINANCING ACTIVITIES (703) (719)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (13) (48)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (95) 78
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 477 291
CASH AND CASH EQUIVALENTS AT END OF PERIOD 382 369
Supplemental disclosures:    
Interest paid 194 186
Income taxes paid, net of refunds $ 280 $ 330