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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 1,562,000,000 $ 1,326,000,000
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses (47,000,000) (1,000,000)
Depreciation of fixed assets 78,000,000 82,000,000
Amortization and impairment of intangible assets 53,000,000 76,000,000
Share-based compensation expense 211,000,000 216,000,000
Deferred income taxes (36,000,000) 115,000,000
Change in assets and liabilities:    
Receivables, net (674,000,000) (477,000,000)
Accounts payable and accrued liabilities (408,000,000) (295,000,000)
Current income taxes 137,000,000 83,000,000
Pension, other postretirement and postemployment liabilities (36,000,000) (80,000,000)
Other assets and liabilities 291,000,000 300,000,000
Cash provided by operating activities 1,131,000,000 1,345,000,000
Cash flows from investing activities    
Proceeds from investments 65,000,000 41,000,000
Payments for investments (39,000,000) (29,000,000)
Net purchases of short-term investments - non fiduciary 38,000,000 22,000,000
Acquisition of businesses, net of cash and funds held on behalf of clients (143,000,000) 0
Sale of businesses, net of cash and funds held on behalf of clients 22,000,000 9,000,000
Capital expenditures (68,000,000) (70,000,000)
Cash used for investing activities (125,000,000) (27,000,000)
Cash flows from financing activities    
Share repurchase (1,328,000,000) (292,000,000)
Issuance of shares for employee benefit plans (166,000,000) (140,000,000)
Commercial paper issuances, net of repayments (409,000,000) 0
Issuance of debt 1,471,000,000 13,000,000
Repayment of debt 0 (400,000,000)
Increase in fiduciary liabilities, net of fiduciary receivables 661,000,000 386,000,000
Cash dividends to shareholders (229,000,000) (219,000,000)
Noncontrolling interests and other financing activities (37,000,000) (84,000,000)
Cash used for financing activities (37,000,000) (736,000,000)
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients (423,000,000) 29,000,000
Net increase in cash and cash equivalents and funds held on behalf of clients 546,000,000 611,000,000
Cash, cash equivalents and funds held on behalf of clients at beginning of period 6,645,000,000 6,573,000,000
Cash, cash equivalents and funds held on behalf of clients at end of period 7,191,000,000 7,184,000,000
Reconciliation of cash and cash equivalents and funds held on behalf of clients:    
Cash and cash equivalents 740,000,000 1,091,000,000
Funds held on behalf of clients 6,451,000,000 6,093,000,000
Total cash and cash equivalents and funds held on behalf of clients 7,191,000,000 7,184,000,000
Supplemental disclosures:    
Interest paid 155,000,000 162,000,000
Income taxes paid, net of refunds $ 275,000,000 $ 239,000,000