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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 1,980 $ 435
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses (53) (2)
Depreciation of fixed assets 115 138
Amortization and impairment of intangible assets 87 112
Share-based compensation expense 304 346
Deferred income taxes (87) 83
Change in assets and liabilities:    
Receivables, net (146) (79)
Accounts payable and accrued liabilities (255) 22
Current income taxes 136 47
Pension, other postretirement and postemployment liabilities (44) (101)
Other assets and liabilities 140 250
Cash provided by operating activities 2,177 1,251
Cash flows from investing activities    
Proceeds from investments 71 51
Payments for investments (95) (68)
Net sales (purchases) of short-term investments - non fiduciary 15 (2)
Acquisition of businesses, net of cash and funds held on behalf of clients (154) (3)
Sale of businesses, net of cash and funds held on behalf of clients 80 8
Capital expenditures (126) (102)
Cash used for investing activities (209) (116)
Cash flows from financing activities    
Share repurchase (2,528) (1,543)
Issuance of shares for employee benefit plans (156) (122)
Commercial paper issuances, net of repayments (425) 151
Issuance of debt 1,967 999
Repayment of debt 0 (413)
Increase in fiduciary liabilities, net of fiduciary receivables 1,200 786
Cash dividends to shareholders (347) (335)
Noncontrolling interests and other financing activities (50) (117)
Cash used for financing activities (339) (594)
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients (1,079) (93)
Net increase in cash and cash equivalents and funds held on behalf of clients 550 448
Cash, cash equivalents and funds held on behalf of clients at beginning of period 6,645 6,573
Cash, cash equivalents and funds held on behalf of clients at end of period 7,195 7,021
Reconciliation of cash and cash equivalents and funds held on behalf of clients:    
Cash and cash equivalents 692 609
Funds held on behalf of clients 6,503 6,412
Total cash and cash equivalents and funds held on behalf of clients 7,195 7,021
Supplemental disclosures:    
Interest paid 219 193
Income taxes paid, net of refunds $ 418 $ 330