Summary of Significant Accounting Principles and Practices (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of estimated useful lives of assets

Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets, which are generally as follows:

Asset Description	Expected Life
Software	Lesser of the life of an associated license, or 4 to 7 years
Leasehold improvements	Lesser of estimated useful life or lease term, not to exceed 10 years
Furniture, fixtures and equipment	4 to 10 years
Computer equipment	4 to 6 years
Buildings	35 years
Automobiles	6 years

Schedule of other intangible assets by asset class

Amortization basis and estimated useful lives by intangible asset type are generally as follows:

Intangible Asset Description	Amortization Basis	Expected Life
Customer-related and contract-based	In line with underlying cash flows	7 to 20 years
Tradenames	Straight-line	1 to 3 years
Technology and other	Straight-line	5 to 7 years

Other intangible assets by asset class are as follows (in millions):

	As of December 31
	2018						2017
	Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount
Customer related and contract based	2,240		1,444		796		2,550		1,415		1,135
Tradenames	1,027		740		287		1,047		533		514
Technology and other	391		325		66		416		332		84
Total	$	3,658	$	2,509	$	1,149	$	4,013	$	2,280	$	1,733

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

Consolidated Statement of Financial Position

	As of December 31, 2018
(millions)	As Reported		Adjustments			Balances Without Adoption of ASC 606
Assets
Receivables, net	$	2,760	$	(301	)	$	2,459
Other current assets	$	618	$	(319	)	$	299
Deferred tax assets	$	561	$	137		$	698
Other non-current assets	$	448	$	(155	)	$	293
Liabilities
Other current liabilities	$	936	$	(43	)	$	893
Deferred tax liabilities	$	181	$	(28	)	$	153
Other non-current liabilities	$	1,097	$	2		$	1,099
Equity
Total equity	$	4,219	$	(569	)	$	3,650

The following tables summarize the impacts of adopting ASC 606 on the Company’s Consolidated Statement of Income, Financial Position, and Cash Flows as of and for the twelve months ended December 31, 2018.

Consolidated Statement of Income

	Twelve months ended December 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
Revenue
Total revenue	$	10,770		$	(61	)	$	10,709
Expenses
Compensation and benefits	$	6,103		$	51		$	6,154
Other general expenses	$	1,500		$	(1	)	$	1,499
Other income (expense)	$	(25	)	$	1		$	(24	)
Income taxes	$	146		$	(34	)	$	112

As a result of applying the modified retrospective method to adopt ASC 606, the following adjustments were made to the Consolidated Statement of Financial Position as of January 1, 2018:

	December 31, 2017					January 1, 2018
(millions)	As Reported		Adjustments			As Adjusted
Assets
Receivables, net	$	2,478	$	252		$	2,730
Other current assets	$	289	$	298		$	587
Deferred tax assets	$	389	$	(128	)	$	261
Other non-current assets	$	307	$	145		$	452
Liabilities
Accounts payable and accrued liabilities	$	1,961	$	8		$	1,969
Other current liabilities	$	870	$	13		$	883
Deferred tax liabilities	$	127	$	42		$	169
Other non-current liabilities	$	1,102	$	(3	)	$	1,099
Equity
Total equity	$	4,648	$	507		$	5,155

Upon adoption of the guidance, the presentation of the results reflect a change in Operating income (loss) offset by an equal and offsetting change in Other income (expense) for each period, as follows:

	Years ended December 31
	2017									2016
	As Reported			Adjustments			As Adjusted			As Reported		Adjustments			As Adjusted
Operating income (loss) (1)	$	979		$	86		$	1,065		$	1,638	$	173		$	1,811
Other income (expense)	$	(39	)	$	(86	)	$	(125	)	$	36	$	(173	)	$	(137	)

(1) Reclassification from Operating income is recorded in Compensation and benefits.

Consolidated Statement of Cash Flows

	Twelve months ended December 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
Cash flows from operating activities
Net income	$	1,174		$	(78	)	$	1,096
Receivables, net	$	(127	)	$	49		$	(78	)
Accounts payable and accrued liabilities	$	25		$	8		$	33
Current income taxes	$	34		$	(34	)	$	—
Other assets and liabilities	$	2		$	55		$	57

As a result of applying the modified retrospective method to adopt ASC 606, the following adjustments were made to the Consolidated Statement of Financial Position as of January 1, 2018:

	December 31, 2017					January 1, 2018
(millions)	As Reported		Adjustments			As Adjusted
Assets
Receivables, net	$	2,478	$	252		$	2,730
Other current assets	$	289	$	298		$	587
Deferred tax assets	$	389	$	(128	)	$	261
Other non-current assets	$	307	$	145		$	452
Liabilities
Accounts payable and accrued liabilities	$	1,961	$	8		$	1,969
Other current liabilities	$	870	$	13		$	883
Deferred tax liabilities	$	127	$	42		$	169
Other non-current liabilities	$	1,102	$	(3	)	$	1,099
Equity
Total equity	$	4,648	$	507		$	5,155