Supplemental Disclosures of Cash Flow Information

6 Months Ended

Jun. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flow Information

Note 19 — Supplemental Disclosures of Cash Flow Information

Supplemental disclosures regarding cash flow information are as follows:

	Six months ended June 30,
	2022			2021
Supplemental disclosures of cash flow information:
Cash and cash equivalents	$	1,920		$	2,217
Fiduciary funds (included in fiduciary assets)		3,183			3,703
Cash and cash equivalents and fiduciary funds (included in current assets held    for sale)		5			—
Other restricted cash (included in prepaids and other current assets)		—			4
Total cash, cash equivalents and restricted cash	$	5,108		$	5,924
(Decrease)/increase in cash, cash equivalents and other restricted cash	$	(2,515	)	$	135
Increase/(decrease) in fiduciary funds		102			(462	)
Total	$	(2,413	)	$	(327	)

Revision of previously issued financial statements - During the six months ended June 30, 2022, to reflect the guidance on restricted cash presentation in FASB ASC 230, Statement of Cash Flows, WTW corrected the classification of its fiduciary funds balances, in the amounts shown in the table above, on our condensed consolidated statements of cash flows, by including these amounts in the total cash, cash equivalents and restricted cash amounts held at each balance sheet date. As a result, cash, cash equivalents and restricted cash balances of $2.2 billion and $2.1 billion at June 30, 2021 and December 31, 2020, respectively, have been revised to $5.9 billion and $6.3 billion, respectively. Additionally, the effect of exchange rate changes on cash, cash equivalents and restricted cash has been updated to include the effect of exchange rate changes on the fiduciary funds balances.

Prior to this correction, the changes in fiduciary funds were presented in fiduciary assets and liabilities on a gross basis in the cash flows from operating activities, where the amounts fully offset each period. In the current presentation, an additional line item, net (payments)/proceeds from fiduciary funds held for clients, has been included within cash flows from financing activities to represent the change in fiduciary funds balances during the periods. The remaining fiduciary assets and fiduciary liabilities, in equal and offsetting amounts, are no longer presented in the cash flows from operating activities. There was no impact to the total cash flows from operating activities as a result of these changes.