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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 708 $ 571
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 149 143
Share-based compensation 64 57
Deferred income taxes 19 (21)
Extinguishment of debt 36 11
Net gain on divestiture of business 0 (27)
Non-cash restructuring charges 10 25
Net income from unconsolidated investees (97) (71)
Other reconciling items included in net income 16 7
Net change in operating assets and liabilities, net of effects of divestiture and acquisitions:    
Receivables, net (109) (7)
Other assets 43 (128)
Accounts payable and accrued expenses (18) (36)
Section 31 fees payable to SEC (69) (75)
Accrued personnel costs (6) (58)
Deferred revenue 70 52
Other liabilities 1 181
Net cash provided by operating activities 817 624
Cash flows from investing activities:    
Purchases of securities (252) (384)
Proceeds from sales and redemptions of securities 372 429
Proceeds from divestiture of business 0 108
Acquisition of businesses, net of cash and cash equivalents acquired (157) (193)
Purchases of property and equipment (128) (88)
Other investing activities 8 (3)
Net cash used in investing activities (157) (131)
Cash flows from financing activities:    
Proceeds from (repayments of) commercial paper, net (391) 264
Repayments of borrowings under our credit commitment and debt obligations (1,470) (1,215)
Payment of debt extinguishment cost (36) (11)
Proceeds from issuances of long-term debt, net of issuance costs and utilization of credit commitment 1,928 680
Repurchases of common stock (186) (200)
Dividends paid (239) (228)
Proceeds received from employee stock activity and other issuances 14 12
Payments related to employee shares withheld for taxes (31) (31)
Other financing activities 3 0
Net cash used in financing activities (408) (729)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents 3 (17)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents 255 (253)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 362 586
Cash and cash equivalents and restricted cash and cash equivalents at end of period 617 333
Cash paid for:    
Interest 69 97
Income taxes, net of refund $ 218 $ 189