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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities        
Net income $ 575 $ 514 $ 1,654 $ 1,562
Adjustments to reconcile net income to cash provided by operating activities:        
Gain from sales of businesses 0 (22) 0 (47)
Depreciation of fixed assets 39 40 77 78
Amortization and impairment of intangible assets 25 25 50 53
Share-based compensation expense     226 211
Deferred income taxes     (168) (36)
Other, net     28 1
Change in assets and liabilities:        
Receivables, net     (704) (674)
Accounts payable and accrued liabilities     (515) (408)
Current income taxes     53 137
Pension, other postretirement and postemployment liabilities     (3) (37)
Other assets and liabilities     433 291
Cash provided by operating activities     1,131 1,131
Cash flows from investing activities        
Proceeds from investments     54 65
Purchases of investments     (29) (39)
Net sales of short-term investments - non fiduciary     255 38
Acquisition of businesses, net of cash and funds held on behalf of clients     (8) (143)
Sale of businesses, net of cash and funds held on behalf of clients     1 22
Capital expenditures     (145) (68)
Cash provided by (used for) investing activities     128 (125)
Cash flows from financing activities        
Share repurchase     (1,100) (1,328)
Proceeds from issuance of shares     33 26
Cash paid for employee taxes on withholding shares     (216) (192)
Commercial paper issuances, net of repayments     (217) (409)
Issuance of debt     744 1,471
Increase in fiduciary liabilities, net of fiduciary receivables     999 661
Cash dividends to shareholders     (241) (229)
Noncontrolling interests and other financing activities     (41) (37)
Cash used for financing activities     (39) (37)
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients     203 (423)
Net increase in cash and cash equivalents and funds held on behalf of clients     1,423 546
Cash, cash equivalents and funds held on behalf of clients at beginning of period     7,076 6,645
Cash, cash equivalents and funds held on behalf of clients at end of period 8,499 7,191 8,499 7,191
Reconciliation of cash and cash equivalents and funds held on behalf of clients:        
Cash and cash equivalents 952 740 952 740
Cash and cash equivalents classified as held for sale 9 0 9 0
Funds held on behalf of clients 7,538 6,451 7,538 6,451
Total cash and cash equivalents and funds held on behalf of clients $ 8,499 $ 7,191 8,499 7,191
Supplemental disclosures:        
Interest paid     220 155
Income taxes paid, net of refunds     $ 461 $ 275