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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:    
Net income $ 1,055 $ 1,035
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 41 40
Amortization of intangibles 63 57
Provision for losses on accounts receivable 12 10
Deferred income taxes 12 22
Stock-based compensation 33 46
Pension settlement charge, net of taxes 85 0
Other 38 80
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (95) 19
Prepaid and other current assets (42) (19)
Accounts payable and accrued expenses (74) (217)
Unearned revenue 0 41
Accrued legal settlements (1) (29)
Other current liabilities (83) (69)
Net change in prepaid/accrued income taxes 33 24
Net change in other assets and liabilities (67) (137)
Cash provided by operating activities 1,010 903
Investing Activities:    
Capital expenditures (46) (60)
Acquisitions, net of cash acquired (4) (246)
Changes in short-term investments (3) 1
Cash used for investing activities (53) (305)
Financing Activities:    
Proceeds from issuance of senior notes, net 0 489
Payments on senior notes 0 (403)
Dividends paid to shareholders (281) (253)
Distributions to noncontrolling interest holders, net (59) (78)
Purchase of CRISIL shares 0 (25)
Repurchase of treasury shares (644) (1,100)
Exercise of stock options 31 16
Employee withholding tax on share-based payments and other (55) (50)
Cash used for financing activities (1,008) (1,404)
Effect of exchange rate changes on cash 13 (38)
Net change in cash, cash equivalents, and restricted cash (38) (844)
Cash, cash equivalents, and restricted cash at beginning of period 1,958 2,779
Cash, cash equivalents, and restricted cash at end of period $ 1,920 $ 1,935