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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating cash flows:    
Net income before non-controlling interests $ 1,377 $ 1,511
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 245 236
Amortization of intangible assets 235 135
Non cash lease expense 236 0
Adjustments and payments related to contingent consideration liability (9) (10)
Charge for early extinguishment of debt 32 0
Provision for deferred income taxes 95 66
Loss (gain) on investments (20) 24
Loss (gain) on disposition of assets 36 (53)
Share-based compensation expense 184 146
Change in fair value of acquisition-related derivative contracts 8 100
Changes in assets and liabilities:    
Net receivables (84) (210)
Other current assets 30 19
Other assets (59) (51)
Accounts payable and accrued liabilities (126) (3)
Accrued compensation and employee benefits (281) (312)
Accrued income taxes 120 (13)
Contributions to pension and other benefit plans in excess of current year expense/credit (269) (250)
Other liabilities (149) 11
Operating lease liabilities (240) 0
Effect of exchange rate changes (70) (27)
Net cash provided by operations 1,291 1,319
Financing cash flows:    
Purchase of treasury shares (300) (675)
Net increase in commercial paper 325 75
Net increase in short term borrowings 300 0
Proceeds from issuance of debt 6,459 592
Repayments of debt (760) (10)
Payment of bridge loan fees 0 (24)
Payments for early extinguishment of debt (585) 0
Purchase of non-controlling interests (75) 0
Acquisition-related derivative payments (337) 0
Shares withheld for taxes on vested units – treasury shares (89) (62)
Issuance of common stock from treasury shares 132 72
Payments of deferred and contingent consideration for acquisitions (60) (106)
Distributions of non-controlling interests (18) (15)
Dividends paid (655) (594)
Net cash provided by (used for) financing activities 4,337 (747)
Investing cash flows:    
Capital expenditures (284) (222)
Sales (purchases) of long-term investments 193 (1)
Purchase of equity investment (91) 0
Proceeds from sales of fixed assets 4 3
Dispositions 225 5
Acquisitions (5,500) (536)
Other, net (51) (1)
Net cash used for investing activities (5,504) (752)
Effect of exchange rate changes on cash and cash equivalents 23 (74)
Increase (decrease) in cash and cash equivalents 147 (254)
Cash and cash equivalents at beginning of period 1,066 1,205
Cash and cash equivalents at end of period $ 1,213 $ 951