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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating cash flows:    
Net income before non-controlling interests $ 1,252 $ 1,086
Adjustments to reconcile net income provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 84 89
Amortization of intangible assets 85 91
Non-cash lease expense 73 77
Adjustments and payments related to contingent consideration assets and liabilities 8 10
Deconsolidation of Russian businesses 0 39
Net gain on investments (2) (26)
Net loss (gain) on disposition of assets 21 (1)
Share-based compensation expense 99 105
Changes in assets and liabilities:    
Net receivables (775) (429)
Other assets (163) (117)
Accrued compensation and employee benefits (1,670) (1,528)
Provision for taxes, net of payments and refunds 189 144
Contributions to pension and other benefit plans in excess of current year credit (75) (125)
Other liabilities 134 (33)
Operating lease liabilities (79) (84)
Net cash used for operations (819) (702)
Financing cash flows:    
Purchase of treasury shares (300) (500)
Net proceeds from issuance of commercial paper 594 825
Borrowings from term-loan and credit facilities 250 0
Proceeds from issuance of debt 589 0
Repayments of debt (4) (4)
Shares withheld for taxes on vested units – treasury shares (136) (134)
Issuance of common stock from treasury shares 42 34
Payments of deferred and contingent consideration for acquisitions (13) (16)
Receipts of contingent consideration for dispositions 2 3
Payments of Ordinary Dividends, Noncontrolling Interest (3) (7)
Dividends paid (296) (272)
Change in fiduciary liabilities 48 926
Net cash provided by financing activities 773 855
Investing cash flows:    
Capital expenditures (84) (122)
Purchases of long term investments (4) (8)
Dispositions (20) (4)
Acquisitions, net of cash and cash held in a fiduciary capacity acquired (263) (24)
Other, net 3 (1)
Net cash used for investing activities (368) (159)
Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity 152 (136)
Decrease in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity (262) (142)
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at beginning of period 12,102 11,375
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at end of period 11,840 11,233
Cash and cash equivalents 1,006 772
Cash and cash equivalents held in a fiduciary capacity 10,834 10,461
Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity $ 11,840 $ 11,233