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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating cash flows:    
Net income before non-controlling interests $ 2,064 $ 1,825
Adjustments to reconcile net income provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 174 201
Amortization of intangible assets 174 189
Non-cash lease expense 152 158
Adjustments and payments related to contingent consideration assets and liabilities 9 7
Deconsolidation of Russian businesses 39 0
Net gain on investments (28) (30)
Net gain on disposition of assets (111) (43)
Share-based compensation expense 194 176
Changes in assets and liabilities:    
Net receivables (978) (626)
Other assets (65) (135)
Accrued compensation and employee benefits (992) (630)
Provision for taxes, net of payments and refunds 235 297
Contributions to pension and other benefit plans in excess of current year credit (226) (187)
Other liabilities 105 (280)
Operating lease liabilities (166) (172)
Net cash provided by operations 580 750
Financing cash flows:    
Purchase of treasury shares (1,100) (434)
Net proceeds from issuance of commercial paper 944 0
Repayments of debt (8) (509)
Shares withheld for taxes on vested units – treasury shares (180) (98)
Issuance of common stock from treasury shares 65 75
Payments of deferred and contingent consideration for acquisitions (92) (26)
Receipts of contingent consideration for dispositions 3 0
Distributions of non-controlling interests (15) (21)
Dividends paid (547) (478)
Change in fiduciary liabilities 1,428 1,277
Net cash provided by (used for) financing activities 498 (214)
Investing cash flows:    
Capital expenditures (239) (151)
Net purchases of long term investments (11) (2)
Dispositions 135 81
Acquisitions, net of cash and cash held in a fiduciary capacity acquired (151) (350)
Other, net 8 (2)
Net cash used for investing activities (258) (424)
Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity (755) 38
Increase in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity 65 150
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at beginning of period 11,374 10,674
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at end of period 11,439 10,824
Cash and cash equivalents 909 888
Cash and cash equivalents held in a fiduciary capacity 10,530 9,936
Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity $ 11,439 $ 10,824