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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating cash flows:    
Net income before non-controlling interests $ 998 $ 767
Adjustments to reconcile net income used for operations:    
Depreciation and amortization of fixed assets and capitalized software 97 97
Amortization of intangible assets 100 86
Non cash lease expense 79 80
Adjustments and payments related to contingent consideration liability (1) (10)
Provision for deferred income taxes 14 9
Net (gain) loss on investments (11) 2
Net loss (gain) on disposition of assets 3 (3)
Share-based compensation expense 78 72
Changes in assets and liabilities:    
Net receivables (275) (313)
Other current assets (91) (34)
Other assets (54) 57
Accounts payable and accrued liabilities (73) (140)
Accrued compensation and employee benefits (1,180) (1,178)
Accrued income taxes 121 91
Contributions to pension and other benefit plans in excess of current year credit (102) (85)
Other liabilities 26 (38)
Operating lease liabilities (82) (86)
Effect of exchange rate changes (55) (12)
Net cash used for operations (408) (638)
Financing cash flows:    
Purchase of treasury shares (112) 0
Net increase in commercial paper 0 193
Borrowings from term-loan and credit facilities 0 2,000
Repayments of debt (4) (503)
Purchase of non-controlling interests 0 (3)
Shares withheld for taxes on vested units – treasury shares (93) (112)
Issuance of common stock from treasury shares 35 44
Payments of deferred and contingent consideration for acquisitions (32) (29)
Distributions of non-controlling interests (8) (18)
Dividends paid (237) (232)
Net cash (used for) provided by financing activities (451) 1,340
Investing cash flows:    
Capital expenditures (69) (118)
Net sales of long-term investments 4 57
Dispositions 0 7
Acquisitions 0 (200)
Other, net (2) 9
Net cash used for investing activities (67) (245)
Effect of exchange rate changes on cash and cash equivalents (43) (132)
(Decrease) increase in cash and cash equivalents (969) 325
Cash and cash equivalents at beginning of period 2,089 1,155
Cash and cash equivalents at end of period $ 1,120 $ 1,480