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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities        
Net income $ 467 $ 418 $ 2,121 $ 1,980
Adjustments to reconcile net income to cash provided by operating activities:        
Gain from sales of businesses 0 (6) 0 (53)
Depreciation of fixed assets 42 37 119 115
Amortization and impairment of intangible assets 20 34 70 87
Share-based compensation expense     321 304
Deferred income taxes     (232) (87)
Other, net     28 1
Change in assets and liabilities:        
Receivables, net     (290) (146)
Accounts payable and accrued liabilities     (357) (255)
Current income taxes     58 136
Pension, other postretirement and postemployment liabilities     3 (45)
Other assets and liabilities     333 140
Cash provided by operating activities     2,174 2,177
Cash flows from investing activities        
Proceeds from investments     59 71
Purchases of investments     (61) (95)
Net sales of short-term investments - non fiduciary     274 15
Acquisition of businesses, net of cash and funds held on behalf of clients     (18) (154)
Sale of businesses, net of cash and funds held on behalf of clients     1 80
Capital expenditures     (203) (126)
Cash provided by (used for) investing activities     52 (209)
Cash flows from financing activities        
Share repurchase     (1,950) (2,528)
Proceeds from issuance of shares     63 49
Cash paid for employee taxes on withholding shares     (232) (205)
Commercial paper issuances, net of repayments     (274) (425)
Issuance of debt     744 1,967
Increase in fiduciary liabilities, net of fiduciary receivables     870 1,200
Cash dividends to shareholders     (366) (347)
Noncontrolling interests and other financing activities     (56) (50)
Cash used for financing activities     (1,201) (339)
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients     (57) (1,079)
Net increase in cash and cash equivalents and funds held on behalf of clients     968 550
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 8,044 7,195 8,044 7,195
Reconciliation of cash and cash equivalents and funds held on behalf of clients:        
Cash and cash equivalents 808 692 808 692
Cash and cash equivalents classified as held for sale 6 0 6 0
Funds held on behalf of clients 7,230 6,503 7,230 6,503
Total cash and cash equivalents and funds held on behalf of clients $ 8,044 $ 7,195 8,044 7,195
Supplemental disclosures:        
Interest paid     309 219
Income taxes paid, net of refunds     $ 613 $ 418