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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Operating cash flows:          
Net income before non-controlling interests $ 580 $ 344 $ 1,347 $ 1,071  
Adjustments to reconcile net income to cash provided by operations:          
Depreciation and amortization of fixed assets and capitalized software     188 159  
Amortization of intangible assets     174 151  
Non cash lease expense     165 151  
Adjustments and payments related to contingent consideration liability     (30) (9)  
Charge for early extinguishment of debt 0 32 0 32  
Provision for deferred income taxes     7 82  
Loss (gain) on investments 31 (8) 33 (13)  
Net loss on disposition of assets     5 21  
Share-based compensation expense     147 117  
Change in fair value of acquisition-related derivative contracts     0 8  
Changes in assets and liabilities:          
Net receivables     (389) (437)  
Other current assets     (81) (4)  
Other assets     140 (33)  
Accounts payable and accrued liabilities     (129) 29  
Accrued compensation and employee benefits     (848) (670)  
Accrued income taxes     204 6  
Contributions to pension and other benefit plans in excess of current year credit     (165) (172)  
Other liabilities     (20) 36  
Operating lease liabilities     (164) (155)  
Effect of exchange rate changes     (6) (129)  
Net cash provided by operations     578 241  
Financing cash flows:          
Purchase of treasury shares     0 (100)  
Net increase in commercial paper     0 549  
Net borrowings from term-loan and credit facilities     1,000 300  
Proceeds from issuance of debt     737 6,459  
Repayments of debt     (507) (457)  
Payments for early extinguishment of debt     0 (585)  
Purchase of non-controlling interests     (3) (50)  
Acquisition-related derivative payments     0 (337)  
Shares withheld for taxes on vested units – treasury shares     (115) (87)  
Issuance of common stock from treasury shares     66 108  
Payments of deferred and contingent consideration for acquisitions     (69) (39)  
Distributions of non-controlling interests     (22) (15)  
Dividends paid     (466) (422)  
Net cash provided by financing activities     621 5,324  
Investing cash flows:          
Capital expenditures     (200) (161)  
Net sales of long-term investments     103 202  
Purchase of equity investment     0 (91) $ (79)
Proceeds from sales of fixed assets     1 2  
Dispositions     93 165  
Acquisitions     (562) (5,500)  
Other, net     1 (47)  
Net cash used for investing activities     (564) (5,430)  
Effect of exchange rate changes on cash and cash equivalents     (79) 93  
Increase in cash and cash equivalents     556 228  
Cash and cash equivalents at beginning of period     1,155 1,066  
Cash and cash equivalents at end of period $ 1,711 $ 1,294 $ 1,711 $ 1,294 $ 1,155