Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net income	$ 668	$ 1,083
Net income from discontinued operations	7	861
Adjustments to reconcile net income to cash provided by operating activities:
Loss from sales of businesses, net	1	3
Depreciation of fixed assets	86	108
Amortization and impairment of intangible assets	392	503
Share-based compensation expense	147	148
Deferred income taxes	(93)	(227)
Change in assets and liabilities:
Fiduciary receivables	(883)	10
Short-term investments — funds held on behalf of clients	(154)	(286)
Fiduciary liabilities	1,037	275
Receivables, net	(371)	(25)
Accounts payable and accrued liabilities	(495)	(377)
Restructuring reserves	12	178
Current income taxes	(144)	(25)
Pension, other postretirement and postemployment liabilities	(84)	(101)
Other assets and liabilities	301	30
Cash provided by operating activities - continuing operations	413	436
Cash provided by operating activities - discontinued operations	0	64
Cash provided by operating activities	413	500
Cash flows from investing activities
Proceeds from investments	23	29
Payments for investments	(36)	(32)
Net sales (purchases) of short-term investments — non-fiduciary	352	(2,451)
Acquisition of businesses, net of cash acquired	(50)	(149)
Sale of businesses, net of cash sold	1	4,193
Capital expenditures	(111)	(82)
Cash provided by investing activities - continuing operations	179	1,508
Cash used for investing activities - discontinued operations	0	(19)
Cash provided by investing activities	179	1,489
Cash flows from financing activities
Share repurchase	(971)	(1,100)
Issuance of shares for employee benefit plans	(150)	(139)
Issuance of debt	2,552	1,651
Repayment of debt	(2,027)	(1,990)
Cash dividends to shareholders	(187)	(182)
Noncontrolling interests and other financing activities	(15)	(10)
Cash used for financing activities - continuing operations	(798)	(1,770)
Cash used for financing activities - discontinued operations	0	0
Cash used for financing activities	(798)	(1,770)
Effect of exchange rates on cash and cash equivalents	(63)	34
Net increase (decrease) in cash and cash equivalents	(269)	253
Cash and cash equivalents at beginning of period	756	431
Cash and cash equivalents at end of period	487	684
Supplemental disclosures:
Interest paid	145	144
Income taxes paid, net of refunds	$ 207	$ 108