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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 1,048,000,000 $ 933,000,000
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses (25,000,000) 0
Depreciation of fixed assets 38,000,000 41,000,000
Amortization and impairment of intangible assets 28,000,000 40,000,000
Share-based compensation expense 119,000,000 131,000,000
Deferred income taxes (18,000,000) 19,000,000
Change in assets and liabilities:    
Receivables, net (544,000,000) (485,000,000)
Accounts payable and accrued liabilities (449,000,000) (356,000,000)
Current income taxes 153,000,000 142,000,000
Pension, other postretirement and postemployment liabilities (27,000,000) (59,000,000)
Other assets and liabilities 140,000,000 155,000,000
Cash provided by operating activities 463,000,000 561,000,000
Cash flows from investing activities    
Proceeds from investments 45,000,000 11,000,000
Payments for investments (9,000,000) (18,000,000)
Net sales (purchases) of short-term investments - non fiduciary (164,000,000) 138,000,000
Acquisition of businesses, net of cash and funds held on behalf of clients (134,000,000) 0
Sale of businesses, net of cash and funds held on behalf of clients 22,000,000 0
Capital expenditures (23,000,000) (29,000,000)
Cash provided by (used for) investing activities (263,000,000) 102,000,000
Cash flows from financing activities    
Share repurchase (828,000,000) (50,000,000)
Issuance of shares for employee benefit plans (116,000,000) (87,000,000)
Issuance of debt 3,128,000,000 250,000,000
Repayment of debt (2,208,000,000) (650,000,000)
Increase in fiduciary liabilities, net of fiduciary receivables 647,000,000 28,000,000
Cash dividends to shareholders (110,000,000) (104,000,000)
Noncontrolling interests and other financing activities (13,000,000) (68,000,000)
Cash provided by (used for) financing activities 500,000,000 (681,000,000)
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients (50,000,000) (34,000,000)
Net increase (decrease) in cash and cash equivalents and funds held on behalf of clients 650,000,000 (52,000,000)
Cash, cash equivalents and funds held on behalf of clients at beginning of period 6,645,000,000 6,573,000,000
Cash, cash equivalents and funds held on behalf of clients at end of period 7,295,000,000 6,521,000,000
Reconciliation of cash and cash equivalents and funds held on behalf of clients:    
Cash and cash equivalents 595,000,000 822,000,000
Funds held on behalf of clients 6,700,000,000 5,699,000,000
Total cash and cash equivalents and funds held on behalf of clients 7,295,000,000 6,521,000,000
Supplemental disclosures:    
Interest paid 22,000,000 36,000,000
Income taxes paid, net of refunds $ 121,000,000 $ 74,000,000