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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating cash flows:    
Net income before non-controlling interests $ 1,071 $ 1,232
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 159 159
Amortization of intangible assets 151 88
Amortization of right of use asset 151 0
Adjustments and payments related to contingent consideration liability (9) 2
Charge for early extinguishment of debt 32 0
Provision for deferred income taxes 82 34
Gain on investments (13) (28)
(Gain) loss on disposition of assets 21 (1)
Share-based compensation expense 117 99
Change in fair value of acquisition-related derivative contracts 8 0
Changes in assets and liabilities:    
Net receivables (437) (388)
Other current assets (4) 4
Other assets (33) (10)
Accounts payable and accrued liabilities 29 30
Accrued compensation and employee benefits (670) (614)
Accrued income taxes 6 18
Contributions to pension and other benefit plans in excess of current year expense/credit (172) (178)
Other liabilities 36 (10)
Operating lease liabilities (155) 0
Effect of exchange rate changes (129) (24)
Net cash provided by operations 241 413
Financing cash flows:    
Purchase of treasury shares (100) (500)
Net increase in commercial paper 549 175
Net increase in short term borrowings 300 0
Proceeds from issuance of debt 6,459 592
Repayments of debt (457) (6)
Payments for early extinguishment of debt (585) 0
Purchase of non-controlling interests (50) 0
Acquisition-related derivative payments (337) 0
Shares withheld for taxes on vested units – treasury shares (87) (62)
Issuance of common stock from treasury shares 108 48
Payments of deferred and contingent consideration for acquisitions (39) (85)
Distributions of non-controlling interests (15) (11)
Dividends paid (422) (383)
Net cash provided by (used for) financing activities 5,324 (232)
Investing cash flows:    
Capital expenditures (161) (135)
Sales (Purchases) of long-term investments 202 (3)
Purchase of equity investment (91) 0
Proceeds from sales of fixed assets 2 1
Dispositions 165 4
Acquisitions (5,500) (144)
Other, net (47) (2)
Net cash used for investing activities (5,430) (279)
Effect of exchange rate changes on cash and cash equivalents 93 (71)
Increase (decrease) in cash and cash equivalents 228 (169)
Cash and cash equivalents at beginning of period 1,066 1,205
Cash and cash equivalents at end of period $ 1,294 $ 1,036