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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 1,308 $ 2,018 $ 1,573
Adjustments to reconcile net income to cash provided by operating activities:                 
Gain from sales of businesses and investments (142) (25) (13)
Depreciation of fixed assets 179 167 172
Amortization and impairment of intangible assets 147 246 392
Share-based compensation expense 449 312 317
Deferred income taxes 11 9 (36)
Change in assets and liabilities:      
Receivables, net (119) 108 (371)
Accounts payable and accrued liabilities 264 186 (28)
Current income taxes 200 (17) (20)
Pension, other postretirement and postemployment liabilities (119) (141) (156)
Other assets and liabilities 4 (80) 5
Cash provided by operating activities 2,182 2,783 1,835
Cash flows from investing activities      
Proceeds from investments 58 64 61
Payments for investments (91) (97) (113)
Net sales (purchases) of short-term investments - non fiduciary 15 (167) 35
Acquisition of businesses, net of cash and funds held on behalf of clients (14) (368) (39)
Sale of businesses, net of cash and funds held on behalf of clients 218 30 52
Capital expenditures (137) (141) (225)
Cash provided by (used for) investing activities 49 (679) (229)
Cash flows from financing activities      
Share repurchase (3,543) (1,763) (1,960)
Issuance of shares for employee benefit plans (130) (149) (131)
Issuance of debt 5,973 4,153 6,052
Repayment of debt (4,220) (3,882) (4,941)
Increase in fiduciary liabilities, net of fiduciary receivables 568 316 1,246
Cash dividends to shareholders (447) (412) (410)
Noncontrolling interests and other financing activities (125) (35) (103)
Cash used for financing activities (1,924) (1,772) (247)
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients (235) 297 63
Net increase in cash and cash equivalents and funds held on behalf of clients 72 629 1,422
Cash and cash equivalents and funds held on behalf of clients at beginning of year 6,573 5,944 4,522
Cash and cash equivalents and funds held on behalf of clients at end of year 6,645 6,573 5,944
Reconciliation of cash and cash equivalents and funds held on behalf of clients:      
Cash and cash equivalents 544 884 790
Funds held on behalf of clients 6,101 5,689 5,154
Total cash and cash equivalents and funds held on behalf of clients 6,645 6,573 5,944
Supplemental disclosures:      
Interest paid 328 326 289
Income taxes paid, net of refunds $ 412 $ 455 $ 353