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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 327 $ 341
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses and investments, net (35) (19)
Depreciation of fixed assets 56 56
Amortization of intangible assets 67 80
Share-based compensation expense 85 90
Deferred income taxes 23 7
Change in assets and liabilities:    
Fiduciary receivables 399 173
Short-term investments — funds held on behalf of clients (285) 63
Fiduciary liabilities (114) (236)
Receivables, net 110 49
Accounts payable and accrued liabilities (348) (348)
Current income taxes (31) 27
Pension, other post-retirement and other post-employment liabilities (50) (66)
Other assets and liabilities 69 81
CASH PROVIDED BY OPERATING ACTIVITIES 273 298
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from investments 13 3
Purchases of investments (14) (1)
Net (purchases) sales of short-term investments — non-fiduciary (227) 42
Acquisition of businesses, net of cash acquired (16) (21)
Proceeds from sale of businesses 97 41
Capital expenditures (52) (62)
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES (199) 2
CASH FLOWS FROM FINANCING ACTIVITIES    
Share repurchase (685) (250)
Issuance of shares for employee benefit plans (65) (114)
Issuance of debt 1,045 870
Repayment of debt (175) (686)
Cash dividends to shareholders (82) (71)
Noncontrolling interests and other financing activities (42) (6)
CASH USED FOR FINANCING ACTIVITIES (4) (257)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 11 (39)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 81 4
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 384 374
CASH AND CASH EQUIVALENTS AT END OF PERIOD 465 378
Supplemental disclosures:    
Interest paid 52 63
Income taxes paid, net of refunds $ 41 $ 46