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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,275 $ 971
Income from discontinued operations, net of income taxes 857 102
Adjustments to reconcile net income to cash provided by operating activities:    
Loss (gain) from sales of businesses and investments, net 2 (41)
Depreciation of fixed assets 148 118
Amortization and impairment of intangible assets 604 117
Share-based compensation expense 214 210
Deferred income taxes (208) (7)
Change in assets and liabilities:    
Fiduciary receivables 986 1,538
Short-term investments — funds held on behalf of clients (701) (419)
Fiduciary liabilities (285) (1,119)
Receivables, net 144 175
Accounts payable and accrued liabilities (237) (246)
Restructuring reserves 170 0
Current income taxes (785) (80)
Pension, other postretirement and other postemployment liabilities (142) (70)
Other assets and liabilities (39) 107
Cash provided by operating activities - continuing operations 289 1,152
Cash provided by operating activities - discontinued operations 64 323
CASH PROVIDED BY OPERATING ACTIVITIES 353 1,475
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from investments 43 31
Payments for investments (55) (47)
Net sale (purchases) of short-term investments — non-fiduciary (1,344) (108)
Acquisition of businesses, net of cash acquired (172) (198)
Sale of businesses, net of cash sold 4,194 104
Capital expenditures (125) (107)
Cash provided by (used for) investing activities - continuing operations 2,541 (325)
Cash used for investing activities - discontinued operations (19) (46)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES 2,522 (371)
CASH FLOWS FROM FINANCING ACTIVITIES    
Share repurchase (1,888) (1,037)
Issuance of shares for employee benefit plans (118) (70)
Issuance of debt 1,651 2,729
Repayment of debt (1,998) (2,308)
Cash dividends to shareholders (274) (258)
Noncontrolling interests and other financing activities (21) (71)
Cash used for financing activities - continuing operations (2,648) (1,015)
Cash used for financing activities - discontinued operations 0 0
CASH USED FOR FINANCING ACTIVITIES (2,648) (1,015)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 91 10
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 318 99
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 431 384
CASH AND CASH EQUIVALENTS AT END OF PERIOD 749 483
Supplemental disclosures:    
Interest paid 195 196
Income taxes paid, net of refunds $ 854 $ 153