XML 42 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows used for operating activities:    
Net income $ (5.5) $ 479.4
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 117.4 109.8
Equity in earnings (losses) 106.1 (72.1)
Gain (Loss) on Sale of Assets 1.8 (134.8)
Distributions of earnings from real estate ventures 6.0 9.9
Provision for loss on receivables and other assets 19.0 11.8
Amortization of Deferred Compensation 53.0 44.4
Net non-cash mortgage servicing rights and mortgage banking derivative activity 2.4 (7.6)
Accretion of interest and amortization of debt issuance costs 2.1 2.5
Other 3.6 2.6
Increase (Decrease) in Receivables 137.7 64.6
Increase (Decrease) in Reimbursable Receivables and Reimbursable Payables (51.0) (94.2)
Increase (Decrease) in Prepaid Expense and Other Assets (46.5) (21.3)
Increase (Decrease) in Deferred Tax Assets, net (17.3) 78.8
Increase (Decrease) in Accounts Payable and Accrued Liabilities (216.5) (339.6)
Increase (Decrease) in Accrued Compensation (591.6) (673.6)
Net cash used in operating activities (479.3) (539.4)
Cash flows used in investing activities:    
Net capital additions - property and equipment (88.2) (86.9)
Net investment activity (less than wholly-owned) 0.0 137.0
Business acquisitions, net of cash acquired (13.6) (2.0)
Payments to Acquire Interest in Joint Venture (66.2) (121.4)
Proceeds from Real Estate and Real Estate Joint Ventures 12.7 13.1
Other, net (5.4) (2.9)
Net cash used in investing activities (160.7) (63.1)
Cash flows provided by financing activities:    
Proceeds from Long-term Lines of Credit 4,478.0 4,060.0
Repayments of Long-term Lines of Credit (3,853.0) (2,835.0)
Proceeds from (Repayments of) Short-term Debt (55.3) (12.5)
Payment for Contingent Consideration Liability, Financing Activities (21.8) (9.2)
Noncontrolling interest (distributions) contributions, net 0.0 (134.6)
Payments for Repurchase of Common Stock (19.5) (447.7)
Other, net (24.5) (19.7)
Net cash provided by financing activities 503.9 601.3
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 3.8 (37.6)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (132.3) (38.8)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 746.0 841.6
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 613.7 802.8
Supplemental disclosure of cash flow information:    
Restricted Cash, beginning of period 226.7 247.9
Restricted Cash, end of period 211.2 234.8
Cash paid during the period for:    
Interest Paid, Excluding Capitalized Interest, Operating Activities 65.1 26.4
Income taxes, net of refunds 103.1 201.6
Operating Lease, Payments 96.2 91.5
Non-cash activities    
Business acquisitions, including contingent consideration 0.0 2.0
Noncash or Part Noncash Divestiture, Amount of Consideration Received 0.0 15.8
Deferred business acquisition obligations $ 0.0 $ 1.4