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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
NET INCOME $ 1,064 $ 1,024 $ 4,236
Adjustments to reconcile net income to total net cash from operating activities:      
Depreciation 242 255 281
Amortization 263 312 369
Impairment 0 81 0
Non-cash restructuring charges 38 71 0
Non-cash lease expense 105 120 160
Net periodic benefit of defined benefit pension plans (26) (153) (168)
Provision for doubtful receivables from clients 6 13 19
(Benefit from)/provision for deferred income taxes (109) (50) 226
Share-based compensation 125 99 101
Net (gain)/loss on disposal of operations (43) 59 (2,679)
Non-cash foreign exchange loss/(gain) 20 (137) (10)
Other, net 31 6 (25)
Changes in operating assets and liabilities, net of effects from purchase of subsidiaries:      
Accounts receivable (206) (188) (134)
Other assets (185) (197) (122)
Other liabilities 16 (495) (175)
Provisions 4 (8) (18)
Net cash from operating activities 1,345 812 2,061
CASH FLOWS (USED IN)/FROM INVESTING ACTIVITIES      
Additions to fixed assets and software for internal use (153) (138) (148)
Capitalized software costs (89) (66) (53)
Acquisitions of operations, net of cash acquired (6) (81) (47)
Net proceeds/(payments) from sale of operations 89 (59) 4,048
Cash and fiduciary funds transferred in sale of operations (922) (29) (1,030)
(Purchase)/sale of investments (4) 200 (200)
Net cash (used in)/from investing activities (1,085) (173) 2,570
CASH FLOWS USED IN FINANCING ACTIVITIES      
Senior notes issued 748 750 0
Debt issuance costs (7) (5) (4)
Repayments of debt (254) (585) (1,008)
Repurchase of shares (1,000) (3,530) (1,627)
Proceeds from issuance of shares 0 7 10
Net (payments)/proceeds from fiduciary funds held for clients (234) 354 (40)
Payments of deferred and contingent consideration related to acquisitions (12) (22) (19)
Cash paid for employee taxes on withholding shares (26) (34) (16)
Dividends paid (352) (369) (374)
Acquisitions of and dividends paid to non-controlling interests (63) (11) (36)
Net cash used in financing activities (1,200) (3,445) (3,114)
(DECREASE)/INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH [1] (940) (2,806) 1,517
Effect of exchange rate changes on cash, cash equivalents and restricted cash 11 (164) (127)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR [1] 4,721 7,691 6,301
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR [1] $ 3,792 $ 4,721 $ 7,691
[1] The amounts of cash, cash equivalents and restricted cash, their respective classification on the consolidated balance sheets as well as their respective portions of the increase or decrease in cash, cash equivalents and restricted cash for each of the periods presented have been included in Note 21 Supplemental Disclosures of Cash Flow Information.