XML 23 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating cash flows:    
Net income before non-controlling interests $ 578 $ 490
Adjustments to reconcile net income to cash used for operations:    
Depreciation and amortization of fixed assets and capitalized software 80 78
Amortization of intangible assets 40 33
Adjustments and payments related to contingent consideration liability (20) 1
Provision for deferred income taxes 25 22
Loss on investments 0 3
Loss on disposition of assets 6 2
Share-based compensation expense 42 31
Changes in assets and liabilities:    
Net receivables (146) (175)
Other current assets (43) (34)
Other assets (25) 2
Accounts payable and accrued liabilities 60 36
Accrued compensation and employee benefits (888) (931)
Accrued income taxes 56 (26)
Contributions to pension and other benefit plans in excess of current year expense/credit (106) (67)
Other liabilities (46) (71)
Effect of exchange rate changes (12) 25
Net cash used for operations (399) (581)
Financing cash flows:    
Purchase of treasury shares (200) (200)
Net increase in commercial paper 100 252
Proceeds from debt 987 347
Repayments of debt (5) (3)
Shares withheld for taxes on vested units – treasury shares (48) (37)
Issuance of common stock from treasury shares 73 92
Payments of deferred and contingent consideration for acquisitions (34) (39)
Distributions of non-controlling interests (1) (6)
Dividends paid (175) (161)
Net cash provided by financing activities 697 245
Investing cash flows:    
Capital expenditures (62) (51)
Net sales (purchases) of long-term investments 11 (2)
Proceeds from sales of fixed assets 1 1
Acquisitions (411) (75)
Other, net 0 1
Net cash used for investing activities (461) (126)
Effect of exchange rate changes on cash and cash equivalents 67 6
Decrease in cash and cash equivalents (96) (456)
Cash and cash equivalents at beginning of period 1,026 1,374
Cash and cash equivalents at end of period $ 930 $ 918