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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income $ 3,525.8 $ 3,226.2 $ 2,691.0
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation 89.5 82.9 84.3
Amortization of purchased intangibles 221.7 226.6 227.7
Depreciation and amortization 115.1 126.0 134.9
Net realized and unrealized (gains)/losses on investments (3.6) (72.1) (4.8)
Deferred income taxes (66.4) (75.0) (23.2)
Change in assets and liabilities:      
Accounts receivable (39.4) (51.5) (51.1)
Other current assets 664.8 (637.8) (76.5)
Other assets 75.4 92.0 87.0
Accounts payable (10.7) (30.8) 72.5
Income tax payable (117.4) (77.1) (147.8)
Other current liabilities (705.9) 642.7 88.1
Other liabilities (55.4) (32.7) (67.4)
Other (3.0) 34.4 41.3
Net Cash Provided by Operating Activities 3,690.5 3,453.8 3,056.0
Cash Flows from Investing Activities      
Proceeds from maturities and sales of available-for-sale marketable securities 6.0 5.9 6.3
Purchases of available-for-sale marketable securities 4.5 4.1 4.4
Purchases of property, net (94.0) (76.4) (89.7)
Investments in business ventures 3.6 2.4 3.1
Proceeds from sale of business ventures 13.5 97.9 11.1
Investment in S&P Dow Jones Indices LLC 0.0 0.0 410.0
Net Cash Used in Investing Activities (82.6) 20.9 (489.8)
Cash Flows from Financing Activities      
Proceeds from debt, net of issuance costs 0.0 0.0 741.0
Repayment of other borrowings, including call premiums 0.0 (16.4) (756.2)
Cash dividends (3,584.2) (3,235.5) (2,633.5)
Change in performance bond and guaranty fund contributions 8,702.9 (45,056.7) (22,700.3)
Employee taxes paid on restricted stock vesting (33.0) (21.4) (24.8)
Other (9.2) (9.3) (7.9)
Net Cash Provided by (Used in) Financing Activities 5,076.5 (48,339.3) (25,381.7)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 8,684.4 (44,864.6) (22,815.5)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance 93,109.7 137,974.3 160,789.8
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 101,794.1 93,109.7 137,974.3
Supplemental Disclosure of Cash Flow Information      
Cash and cash equivalents 2,892.4 2,912.0 2,720.1
Short-term restricted cash (within other current assets) 6.3 5.2 4.9
Long-term restricted cash (within other assets) 0.0 0.0 0.1
Restricted cash and restricted cash equivalents (performance bonds and guaranty fund contributions) 98,895.4 90,192.5 135,249.2
Income taxes paid 1,197.6 1,109.4 973.4
Interest paid 129.9 129.9 133.2
Dividends declared $ 2,112.2 $ 1,910.0 $ 1,635.7