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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Operating cash flows:      
Net income before non-controlling interests $ 767 $ 727  
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization of fixed assets and capitalized software 97 74  
Amortization of intangible assets 86 51  
Non cash lease expense 80 68  
Adjustments and payments related to contingent consideration liability (10) (18)  
Provision for deferred income taxes 9 (9)  
Loss (gain) on investments 2 (5)  
Gain on disposition of assets (3) 0  
Share-based compensation expense 72 57  
Change in fair value of acquisition-related derivative contracts 0 (29)  
Changes in assets and liabilities:      
Net receivables (313) (309)  
Other current assets (34) (37)  
Other assets 57 (1)  
Accounts payable and accrued liabilities (140) 79  
Accrued compensation and employee benefits (1,178) (886)  
Accrued income taxes 91 96  
Contributions to pension and other benefit plans in excess of current year credit (85) (80)  
Other liabilities (38) 42  
Operating lease liabilities (86) (73)  
Effect of exchange rate changes (12) (23)  
Net cash used for operations (638) (276)  
Financing cash flows:      
Net increase in commercial paper 193 748  
Borrowings from term-loan and credit facilities 2,000 0  
Proceeds from issuance of debt 0 6,462  
Repayments of debt (503) (3)  
Purchase of non-controlling interests (3)    
Acquisition-related derivative payments 0 (129)  
Shares withheld for taxes on vested units – treasury shares (112) (86)  
Issuance of common stock from treasury shares 44 77  
Payments of deferred and contingent consideration for acquisitions (29) (29)  
Distributions of non-controlling interests (18) (4)  
Dividends paid (232) (210)  
Net cash provided by financing activities 1,340 6,826  
Investing cash flows:      
Capital expenditures (118) (73)  
Net sales of long-term investments 57 115  
Purchase of equity investment 0 (88) $ (79)
Proceeds from sales of fixed assets 0 1  
Dispositions 7 0  
Acquisitions (200) (140)  
Other, net 9 (2)  
Net cash used for investing activities (245) (187)  
Effect of exchange rate changes on cash and cash equivalents (132) 47  
Increase in cash and cash equivalents and cash held in escrow 325 6,410  
Cash and cash equivalents at beginning of period 1,155 1,066 1,117
Cash and cash equivalents at end of period 1,480 1,117 $ 1,155
Funds held in escrow for acquisition 0 6,359  
Total $ 1,480 $ 7,476