Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components of fixed assets

The components of fixed assets are as follows:

December 31,
(In millions of dollars)	2020		2019
Furniture and equipment	$	1,326	$	1,268
Land and buildings	379		377
Leasehold and building improvements	1,310		1,214
	3,015		2,859
Less-accumulated depreciation and amortization	(2,159)		(2,001)
	$	856	$	858

Diluted earnings per share for continuing operations

Basic and Diluted EPS Calculation
(In millions, except per share figures)	2020		2019		2018
Net income before non-controlling interests	$	2,046	$	1,773	$	1,670
Less: Net income attributable to non-controlling interests	30		31		20
Net income attributable to the Company	$	2,016	$	1,742	$	1,650
Basic weighted average common shares outstanding	506		506		506
Dilutive effect of potentially issuable common shares	6		5		5
Diluted weighted average common shares outstanding	512		511		511
Average stock price used to calculate common stock equivalents	$	109.12	$	97.23	$	83.13