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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 1,412.3 $ 476.7
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:    
Amortization and depreciation 154.9 150.3
Common share-based compensation expense 106.0 138.2
Other (gains)/losses, net (65.4) 15.0
Other (gains)/losses of CIP, net (323.3) 61.4
Equity in earnings of unconsolidated affiliates (119.3) (46.7)
Distributions from equity method investees 43.9 29.9
Changes in operating assets and liabilities:    
(Purchase)/sale of investments by CIP, net (176.2) (36.3)
(Purchase)/sale of investments, net 99.6 165.3
(Increase)/decrease in receivables 5,251.3 2,800.7
Increase/(decrease) in payables (5,302.0) (3,091.8)
Net cash provided by/(used in) operating activities 1,081.8 662.7
Investing activities:    
Purchase of property, equipment and software (73.2) (73.6)
Purchase of investments by CIP (4,795.5) (3,605.5)
Sale of investments by CIP 4,321.6 2,828.3
Purchase of investments (149.6) (116.5)
Sale of investments 103.8 117.4
Capital distributions from equity method investees 13.5 22.8
Collateral received/(posted), net 0.0 (1.9)
Net cash provided by/(used in) investing activities (579.4) (829.0)
Financing activities:    
Purchases of treasury shares (58.1) (40.7)
Dividends paid - preferred (177.6) (177.6)
Dividends paid - common (228.9) (285.9)
Third-party capital invested into CIP 475.1 133.1
Third-party capital distributed by CIP (351.5) (187.2)
Borrowings of debt by CIP 2,752.6 1,218.8
Repayments of debt by CIP (1,972.1) (773.4)
Settlement of forward contracts on treasury shares (309.4) (190.6)
Collateral received/(returned), net (104.1) 0.0
Net borrowings/(repayments) under credit facility 0.0 90.0
Payment of contingent consideration (11.8) (16.8)
Net cash provided by/(used in) financing activities 14.2 (230.3)
Increase/(decrease) in cash and cash equivalents 516.6 (396.6)
Foreign exchange movement on cash and cash equivalents (28.6) (5.4)
Foreign exchange movement on cash and cash equivalents of CIP (9.1) 12.3
Net cash inflows/(outflows) upon consolidation/deconsolidation of CIP (8.7) 9.1
Cash, cash equivalents and restricted cash, beginning of period 1,839.3 [1] 1,701.2
Cash and cash equivalents, end of period 2,309.5 1,320.6
Cash and cash equivalents 1,773.2 1,066.6
Cash and cash equivalents of CIP 536.3 254.0
Total cash and cash equivalents per consolidated statement of cash flows $ 2,309.5 $ 1,320.6
[1] Restricted cash of $129.2 million as of December 31, 2020 is recorded in Other assets on the Condensed Consolidated Balance Sheets. There was no restricted cash at the end of the period for the nine months ended September 30, 2021.