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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Operating activities:          
Net income $ 462 $ 427 $ 936 $ 938 $ 2,554
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 143 142 281 276  
Stock-based compensation     61 68  
Deferred taxes     (7) (11)  
Cetip realized investment gain, net     0 (114)  
Other     (4) (7)  
Changes in assets and liabilities:          
Customer accounts receivable     (148) (170)  
Other current and non-current assets     (39) (37)  
Section 31 fees payable     80 51  
Deferred revenue     249 240  
Other current and non-current liabilities     (173) (135)  
Total adjustments     300 161  
Net cash provided by operating activities     1,236 1,099  
Investing activities:          
Capital expenditures     (33) (81)  
Capitalized software development costs     (75) (69)  
Proceeds from sale of Cetip, net     0 438  
Cash paid for acquisitions, net of cash received for divestiture     (405) 10  
Purchases of investments     (305) 0  
Net cash provided by (used in) investing activities     (818) 298  
Financing activities:          
Proceeds from (repayments of) commercial paper, net     812 (469)  
Repurchases of common stock     (759) (469)  
Dividends to stockholders     (279) (239)  
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises     (76) (81)  
Acquisition of non-controlling interest and redeemable non-controlling interest     0 (55)  
Other     1 (8)  
Net cash used in financing activities     (301) (1,321)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents     (5) 5  
Net increase in cash, cash equivalents, and restricted cash and cash equivalents     112 81  
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period     1,568 1,350 1,350
Cash, cash equivalents, and restricted cash and cash equivalents, end of period $ 1,680 $ 1,431 1,680 1,431 $ 1,568
Supplemental cash flow disclosure:          
Cash paid for income taxes     346 429  
Cash paid for interest     $ 104 $ 87