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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:      
Net income $ 2,534 $ 2,303 $ 2,121
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 83 82 84
Amortization of intangibles 123 122 122
Provision for losses on accounts receivable 17 18 21
Deferred income taxes (31) 46 81
Stock-based compensation 90 78 94
Gain on dispositions (16) (49) 0
Accrued legal settlements 9 0 1
Pension settlement charge, net of taxes 2 85 0
Loss on extinguishment of debt 279 57 0
Lease impairment charges 120 11 11
Other 110 25 41
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:      
Accounts receivable 18 (135) (164)
Prepaid and other current assets (85) (81) (1)
Accounts payable and accrued expenses 132 73 (106)
Unearned revenue 220 256 70
Accrued legal settlements 0 (1) (108)
Other current liabilities (15) (56) (67)
Net change in prepaid/accrued income taxes (2) (41) (7)
Net change in other assets and liabilities (21) (17) (129)
Cash provided by operating activities 3,567 2,776 2,064
Investing Activities:      
Capital expenditures (76) (115) (113)
Acquisitions, net of cash acquired (201) (91) (401)
Proceeds from dispositions 18 85 6
Changes in short-term investments 19 (10) (5)
Cash used for investing activities (240) (131) (513)
Financing Activities:      
Proceeds from issuance of senior notes, net 1,276 1,086 489
Payments on senior notes (1,394) (868) (403)
Dividends paid to shareholders (645) (560) (503)
Distributions to noncontrolling interest holders, net (194) (143) (154)
Repurchase of treasury shares (1,164) (1,240) (1,660)
Exercise of stock options 16 40 34
Purchase of additional CRISIL shares 0 0 (25)
Employee withholding tax on share-based payments and other (61) (66) (66)
Cash used for financing activities (2,166) (1,751) (2,288)
Effect of exchange rate changes on cash 75 34 (84)
Net change in cash, cash equivalents, and restricted cash 1,236 928 (821)
Cash, cash equivalents, and restricted cash at beginning of year 2,886 1,958 2,779
Cash, cash equivalents, and restricted cash at end of year 4,122 2,886 1,958
Cash paid during the year for:      
Interest 159 162 151
Income taxes $ 683 $ 659 $ 558