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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 1,079 $ 1,048
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses 0 (25)
Depreciation of fixed assets 38 38
Amortization and impairment of intangible assets 25 28
Share-based compensation expense 127 119
Deferred income taxes (70) (18)
Other, net 0 1
Change in assets and liabilities:    
Receivables, net (664) (544)
Accounts payable and accrued liabilities (443) (449)
Current income taxes 126 153
Pension, other postretirement and postemployment liabilities (9) (28)
Other assets and liabilities 234 140
Cash provided by operating activities 443 463
Cash flows from investing activities    
Proceeds from investments 13 45
Purchases of investments (11) (9)
Net sales (purchases) of short-term investments - non fiduciary 280 (164)
Acquisition of businesses, net of cash and funds held on behalf of clients (2) (134)
Sale of businesses, net of cash and funds held on behalf of clients 1 22
Capital expenditures (76) (23)
Cash provided by (used for) investing activities 205 (263)
Cash flows from financing activities    
Share repurchase (550) (828)
Proceeds from issuance of shares 25 23
Issuance of shares for employee benefit plans (157) (139)
Commercial paper issuances, net of repayments (173) (551)
Issuance of debt 744 1,471
Increase in fiduciary liabilities, net of fiduciary receivables 636 647
Cash dividends to shareholders (115) (110)
Noncontrolling interests and other financing activities (6) (13)
Cash provided by financing activities 404 500
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients 58 (50)
Net increase in cash and cash equivalents and funds held on behalf of clients 1,110 650
Cash, cash equivalents and funds held on behalf of clients at beginning of period 7,076 6,645
Cash, cash equivalents and funds held on behalf of clients at end of period 8,186 7,295
Reconciliation of cash and cash equivalents and funds held on behalf of clients:    
Cash and cash equivalents 1,119 595
Funds held on behalf of clients 7,067 6,700
Total cash and cash equivalents and funds held on behalf of clients 8,186 7,295
Supplemental disclosures:    
Interest paid 79 22
Income taxes paid, net of refunds $ 206 $ 121