XML 22 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 610 $ 305
Income from discontinued operations, net of income taxes 6 40
Adjustments to reconcile net income to cash provided by operating activities:    
Loss from sales of businesses, net 1 2
Depreciation of fixed assets 39 54
Amortization and impairment of intangible assets 110 43
Share-based compensation expense 77 78
Deferred income taxes 26 (2)
Change in assets and liabilities:    
Fiduciary receivables (605) 337
Short-term investments — funds held on behalf of clients (195) (330)
Fiduciary liabilities 800 (7)
Receivables, net (269) 38
Accounts payable and accrued liabilities (439) (390)
Restructuring reserves (24) 99
Current income taxes 30 (56)
Pension, other postretirement and other postemployment liabilities (53) (41)
Other assets and liabilities 38 92
Cash provided by operating activities - continuing operations 140 182
Cash provided by operating activities - discontinued operations 0 58
CASH PROVIDED BY OPERATING ACTIVITIES 140 240
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from investments 17 25
Payments for investments (11) (9)
Net sale of short-term investments — non-fiduciary 415 94
Acquisition of businesses, net of cash acquired (29) (46)
Sale of businesses, net of cash sold (1) (2)
Capital expenditures (45) (34)
Cash provided by investing activities - continuing operations 346 28
Cash used for investing activities - discontinued operations 0 (15)
CASH PROVIDED BY INVESTING ACTIVITIES 346 13
CASH FLOWS FROM FINANCING ACTIVITIES    
Share repurchase (569) (126)
Issuance of shares for employee benefit plans (109) (85)
Issuance of debt 808 992
Repayment of debt (704) (950)
Cash dividends to shareholders (89) (87)
Noncontrolling interests and other financing activities 0 (2)
Cash used for financing activities - continuing operations (663) (258)
Cash used for financing activities - discontinued operations 0 0
CASH USED FOR FINANCING ACTIVITIES (663) (258)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 18 25
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (159) 20
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 756 431
CASH AND CASH EQUIVALENTS AT END OF PERIOD 597 451
Supplemental disclosures:    
Interest paid 58 58
Income taxes paid, net of refunds $ 58 $ 58