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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating cash flows:    
Net income before non-controlling interests $ 2,299 $ 2,064
Adjustments to reconcile net income provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 175 174
Amortization of intangible assets 172 174
Non-cash lease expense 143 152
Adjustments and payments related to contingent consideration assets and liabilities (23) 9
Deconsolidation of Russian businesses 0 39
Net gain on investments (5) (28)
Net loss (gain) on disposition of assets 19 (111)
Share-based compensation expense 191 194
Changes in assets and liabilities:    
Net receivables (1,029) (978)
Other assets (108) (65)
Accrued compensation and employee benefits (1,101) (992)
Provision for taxes, net of payments and refunds 245 235
Contributions to pension and other benefit plans in excess of current year credit (164) (226)
Other liabilities 10 105
Operating lease liabilities (159) (166)
Net cash provided by operations 665 580
Financing cash flows:    
Purchase of treasury shares (600) (1,100)
Net proceeds from issuance of commercial paper 308 944
Borrowings from term-loan and credit facilities 200 0
Proceeds from issuance of debt 589 0
Repayments of debt (8) (8)
Purchase of non-controlling interests (139) 0
Shares withheld for taxes on vested units – treasury shares (141) (180)
Issuance of common stock from treasury shares 120 65
Payments of deferred and contingent consideration for acquisitions (185) (92)
Receipts of contingent consideration for dispositions 2 3
Distributions of non-controlling interests (10) (15)
Dividends paid (591) (547)
Change in fiduciary liabilities 682 1,428
Net cash provided by financing activities 227 498
Investing cash flows:    
Capital expenditures (185) (239)
Purchases of long term investments (30) (16)
Sales of long term investments 16 5
Dispositions (17) 135
Acquisitions, net of cash and cash held in a fiduciary capacity acquired (292) (151)
Other, net 7 8
Net cash used for investing activities (501) (258)
Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity 242 (755)
Increase in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity 633 65
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at beginning of period 12,102 11,374
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at end of period 12,735 11,439
Cash and cash equivalents 1,171 909
Cash and cash equivalents held in a fiduciary capacity 11,564 10,530
Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity $ 12,735 $ 11,439