Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net income	$ 1,484	$ 1,191
Less: Net income (loss) from discontinued operations	1	(1)
Adjustments to reconcile net income to cash provided by operating activities:
(Gain) loss from sales of businesses, net	(25)	(8)
Depreciation of fixed assets	124	124
Amortization and impairment of intangible assets	205	295
Share-based compensation expense	207	252
Deferred income taxes	(4)	(44)
Change in assets and liabilities:
Fiduciary receivables	(1,051)	174
Short-term investments — funds held on behalf of clients	(706)	(1,285)
Fiduciary liabilities	1,757	1,111
Receivables, net	193	(167)
Accounts payable and accrued liabilities	(191)	(385)
Restructuring reserves	(112)	(62)
Current income taxes	34	3
Pension, other postretirement and postemployment liabilities	(117)	(127)
Other assets and liabilities	226	90
Cash provided by operating activities	2,023	1,163
Cash flows from investing activities
Proceeds from investments	34	33
Payments for investments	(80)	(94)
Net purchases of short-term investments — non-fiduciary	(312)	(7)
Acquisition of businesses, net of cash acquired	(368)	(39)
Sale of businesses, net of cash sold	30	43
Capital expenditures	(119)	(167)
Cash used for investing activities	(815)	(231)
Cash flows from financing activities
Share repurchase	(963)	(1,507)
Issuance of shares for employee benefit plans	(141)	(133)
Issuance of debt	4,153	4,918
Repayment of debt	(3,857)	(3,858)
Cash dividends to shareholders	(307)	(307)
Noncontrolling interests and other financing activities	(31)	(81)
Cash used for financing activities	(1,146)	(968)
Effect of exchange rates on cash and cash equivalents	(31)	(18)
Net increase (decrease) in cash and cash equivalents	31	(54)
Cash and cash equivalents at beginning of period	790	656
Cash and cash equivalents at end of period	821	602
Supplemental disclosures:
Interest paid	214	196
Income taxes paid, net of refunds	$ 326	$ 279