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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating cash flows:    
Net income before non-controlling interests $ 1,825 $ 1,347
Adjustments to reconcile net income used for operations:    
Depreciation and amortization of fixed assets and capitalized software 201 188
Amortization of intangible assets 189 174
Non cash lease expense 158 165
Adjustments and payments related to contingent consideration assets and liabilities 7 (30)
Provision for deferred income taxes 119 7
Net (gain) loss on investments (30) 33
Net (gain) loss on disposition of assets (43) 5
Share-based compensation expense 176 147
Changes in assets and liabilities:    
Net receivables (551) (389)
Other current assets (106) (81)
Other assets (180) 140
Accounts payable and accrued liabilities (116) (129)
Accrued compensation and employee benefits (642) (848)
Accrued income taxes 109 204
Contributions to pension and other benefit plans in excess of current year credit (187) (165)
Other liabilities 88 (20)
Operating lease liabilities (172) (164)
Effect of exchange rate changes (95) (6)
Net cash provided by operations 750 578
Financing cash flows:    
Purchase of treasury shares (434) 0
Borrowings from term-loan and credit facilities 0 1,000
Proceeds from issuance of debt 0 737
Repayments of debt (509) (507)
Purchase of non-controlling interests 0 (3)
Shares withheld for taxes on vested units – treasury shares (98) (115)
Issuance of common stock from treasury shares 75 66
Net payments of deferred and contingent consideration for acquisitions and dispositions (26) (69)
Distributions of non-controlling interests (21) (22)
Dividends paid (478) (466)
Net cash (used for) provided by financing activities (1,491) 621
Investing cash flows:    
Capital expenditures (151) (200)
Net (purchase) sale of long term investments (2) 103
Dispositions 81 93
Acquisitions (363) (562)
Other, net (2) 2
Net cash used for investing activities (437) (564)
Effect of exchange rate changes on cash and cash equivalents (23) (79)
(Decrease) increase in cash and cash equivalents (1,201) 556
Cash and cash equivalents at beginning of period 2,089 1,155
Cash and cash equivalents at end of period $ 888 $ 1,711