XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating cash flows:    
Net income before non-controlling interests $ 3,400 $ 3,316
Adjustments to reconcile net income provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 270 276
Amortization of intangible assets 412 269
Non-cash lease expense 219 206
Adjustments and payments related to contingent consideration assets and liabilities 18 (69)
Gain on consolidation of entity (13) 0
Net (gain) on investments (27) 0
Net (gain) on disposition of assets (17) (18)
Share-based compensation expense 305 283
Changes in assets and liabilities:    
Net receivables (388) (821)
Other assets (39) (45)
Accrued compensation and employee benefits (610) (582)
Provision for taxes, net of payments and refunds 197 233
Contributions to pension and other benefit plans in excess of current year credit (190) (262)
Other liabilities (157) (211)
Operating lease liabilities (249) (229)
Net cash provided by (used for) operations 3,131 2,346
Financing cash flows:    
Purchase of treasury shares (1,002) (900)
Proceeds from issuance of debt 0 988
Repayments of debt (514) (1,613)
Payment of bridge loan commitment fees 0 (23)
Purchase of non-controlling interests 0 (5)
Shares withheld for taxes on vested units – treasury shares (148) (177)
Issuance of common stock from treasury shares 212 221
Payments of deferred and contingent consideration for acquisitions (64) (91)
Receipts of deferred and contingent consideration for dispositions 0 3
Distributions of non-controlling interests (46) (29)
Dividends paid (1,255) (1,110)
Change in fiduciary liabilities 231 916
Net cash provided by (used for) financing activities (2,586) (1,820)
Investing cash flows:    
Capital expenditures (186) (240)
Purchases of long term investments (17) (18)
Sales of long-term investments 96 17
Dispositions 15 106
Acquisitions, net of cash and cash held in a fiduciary capacity acquired (224) (1,042)
Other, net (6) 1
Net cash provided by (used for) investing activities (322) (1,176)
Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity 615 219
Increase (Decrease) in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity 838 (431)
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at beginning of period 13,674 14,152
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at end of period 14,512 13,721
Cash and cash equivalents 2,511 1,798
Cash and cash equivalents held in a fiduciary capacity 12,001 11,923
Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity $ 14,512 $ 13,721