XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income $ 1,449.6 $ 3,098.5 $ 2,523.3
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation, amortization and impairment of property, equipment and software 225.7 204.8 189.6
Amortization and impairment of acquisition-related assets and retention arrangements 420.1 0.0 0.0
Fair value remeasurement of contingent consideration liability (161.2) 0.0 0.0
Stock-based compensation expense 285.4 274.6 246.2
Net gains recognized on other investments 210.6 (122.5) (189.6)
Net investments in sponsored investment products used to economically hedge supplemental savings plan liability (18.8) (85.7) (142.9)
Net change in securities held by consolidated sponsored investment products 87.9 14.9 (798.8)
Other changes in assets and liabilities (139.9) 67.4 91.1
Net cash provided by operating activities 2,359.4 3,452.0 1,918.9
Cash flows from investing activities      
Purchases of sponsored investment products (55.1) (48.0) (272.4)
Dispositions of sponsored investment products 263.6 1,625.8 454.1
Net cash of sponsored investment products on consolidation (deconsolidation) (8.7) (16.9) (53.9)
Additions to property and equipment (237.6) (239.1) (214.6)
Acquisition, net of cash acquired 0.0 (2,450.8) 0.0
Other investing activity (3.7) 30.9 50.5
Net cash used in investing activities (41.5) (1,098.1) (36.3)
Cash flows from financing activities      
Repurchases of common stock (849.8) (1,138.5) (1,201.9)
Common share issuances under stock-based compensation plans (36.2) (81.6) 3.9
Dividends paid to common stock and equity-award holders (1,107.4) (1,701.9) (845.8)
Net distributions to non-controlling interests in consolidated entities (35.1) 0.0 0.0
Net subscriptions (redemptions) from redeemable non-controlling interest holders (48.4) (66.8) 557.5
Net cash used in financing activities (2,076.9) (2,988.8) (1,486.3)
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment products 9.5 2.6 1.9
Net change in cash and cash equivalents during period 250.5 (632.3) 398.2
Cash and cash equivalents at beginning of year 1,624.2 2,256.5 1,858.3
Cash and cash equivalents at end of year $ 1,874.7 $ 1,624.2 $ 2,256.5