| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||||||||
1,573 | 1,174 | 1,263 | 1,430 | 1,422 | 1,431 | 1,148 | 1,020 | 1,010 | 732 | 792 | 1,478 | 877 |
Net income (loss) from discontinued operations | ||||||||||||
-1 | 74 | 828 | 177 | 169 | - | - | - | - | - | - | - | - |
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||||||
(Gain) loss from sales of businesses, net | ||||||||||||
13 | -6 | -16 | 39 | 81 | 44 | 65 | 0 | 6 | -43 | 91 | 1,208 | 30 |
Depreciation of fixed assets | ||||||||||||
172 | 176 | 187 | 162 | 164 | 242 | 240 | 232 | 220 | 151 | 149 | 157 | - |
Amortization of Intangible Assets | ||||||||||||
392 | 593 | 704 | 157 | 174 | 352 | 395 | 423 | 362 | 154 | 93 | 65 | - |
Depreciation and amortization | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 205 |
Share-based compensation expense | ||||||||||||
317 | 338 | 319 | 306 | 320 | 328 | 300 | 212 | 235 | 221 | 209 | 248 | 204 |
Deferred income taxes | ||||||||||||
-36 | -225 | -18 | -24 | -223 | -135 | -14 | -95 | 146 | 76 | 138 | -139 | 110 |
Change in assets and liabilities: | ||||||||||||
Fiduciary receivables | ||||||||||||
409 | 679 | -171 | -595 | -599 | 19 | 4 | 1,402 | 14 | -816 | -358 | - | - |
Short-term investments — funds held on behalf of clients | ||||||||||||
1,246 | 320 | 135 | 540 | -206 | 403 | -156 | -239 | 713 | 19 | -90 | -525 | -50 |
Fiduciary liabilities | ||||||||||||
1,655 | 999 | -36 | -55 | -805 | 422 | -152 | 1,163 | 727 | -797 | -448 | - | - |
Receivables, net | ||||||||||||
371 | 127 | 254 | 105 | 97 | 25 | -141 | -106 | 494 | 69 | 63 | 151 | -53 |
Accounts payable and accrued liabilities | ||||||||||||
-28 | 25 | 96 | 53 | 88 | 4 | 110 | -37 | 0 | -280 | -54 | -11 | -116 |
Restructuring reserves | ||||||||||||
3 | 23 | 172 | 0 | 0 | - | 15 | -46 | -73 | -64 | 67 | 62 | -47 |
Current income taxes | ||||||||||||
-20 | 34 | -914 | -42 | 24 | 42 | -116 | 185 | 120 | - | -105 | 55 | 131 |
Pension, other postretirement and postemployment liabilities | ||||||||||||
-156 | -259 | -66 | 42 | -230 | -340 | -502 | -585 | -399 | -130 | -404 | -105 | -107 |
Other assets and liabilities | ||||||||||||
-1 | -2 | 8 | -66 | -110 | 43 | -101 | -4 | 103 | 51 | 231 | 8 | 67 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | ||||||||||||
1,835 | 1,686 | 669 | 1,829 | 1,502 | - | - | - | - | - | - | - | - |
Cash provided by operating activities - discontinued operations | ||||||||||||
0 | 0 | 65 | 497 | 507 | - | - | - | - | - | - | - | - |
Cash provided by operating activities | ||||||||||||
1,835 | 1,686 | 734 | 2,326 | 2,009 | 1,812 | 1,753 | 1,419 | 1,018 | 783 | 500 | 968 | 1,263 |
Cash flows from investing activities | ||||||||||||
Proceeds from investments | ||||||||||||
61 | 71 | 68 | 43 | 220 | 52 | 93 | 178 | 190 | 90 | 73 | 254 | 1,030 |
Payments for investments | ||||||||||||
113 | 80 | 64 | 64 | 266 | 20 | 15 | 12 | 30 | 34 | 158 | 338 | 1,011 |
Net sales (purchases) of short-term investments — non-fiduciary | ||||||||||||
-35 | -348 | 232 | -61 | -9 | -110 | 174 | -440 | 8 | 337 | -259 | -392 | 64 |
Net purchases of short term investments - funds held on behalf of clients | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -525 | -50 |
Acquisition of businesses, net of cash acquired | ||||||||||||
39 | 58 | 1,029 | 879 | 16 | 479 | 54 | 162 | 106 | 2,078 | 263 | 1,096 | 251 |
Sale of businesses, net of cash sold | ||||||||||||
52 | -10 | 4,246 | 107 | 205 | 48 | 40 | 2 | 9 | - | - | 2,820 | 53 |
Capital expenditures | ||||||||||||
225 | 240 | 183 | 156 | 200 | 256 | 229 | 269 | 241 | 180 | 140 | 103 | 170 |
Cash provided by (used for) investing activities - continuing operations | ||||||||||||
-229 | 31 | 2,806 | -888 | -48 | - | - | - | - | - | - | - | - |
Cash used for investing activities - discontinued operations | ||||||||||||
0 | 0 | -19 | -66 | -90 | - | - | - | - | - | - | - | - |
Cash used for investing activities | ||||||||||||
-229 | 31 | 2,787 | -954 | -138 | -545 | -339 | 177 | -186 | -2,539 | -229 | 1,404 | -463 |
Cash flows from financing activities | ||||||||||||
Share repurchase | ||||||||||||
1,960 | 1,470 | 2,399 | 1,257 | 1,550 | 2,250 | 1,102 | 1,125 | 828 | 250 | 590 | 1,924 | - |
Issuance of shares for employee benefit plans | ||||||||||||
131 | 149 | 121 | 129 | 30 | 105 | -22 | 118 | 201 | 194 | 163 | 246 | 54 |
Treasury stock transactions, net | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -523 |
Issuance of debt | ||||||||||||
6,052 | 5,754 | 1,654 | 3,467 | 5,351 | 5,239 | 4,906 | 733 | 1,673 | 2,905 | 1,093 | 477 | 806 |
Repayment of debt | ||||||||||||
4,941 | 5,417 | 1,999 | 2,945 | 5,098 | 3,918 | 4,679 | 1,077 | 1,688 | 816 | 1,118 | -863 | 714 |
Cash dividends to shareholders | ||||||||||||
410 | 382 | 364 | 345 | 323 | 273 | 212 | 204 | 200 | 175 | 165 | 171 | 176 |
Payments to Noncontrolling Interests | ||||||||||||
103 | 35 | 36 | -77 | -39 | 4 | -27 | -4 | 24 | 15 | 3 | - | - |
Dividends paid to noncontrolling interests | ||||||||||||
- | - | - | - | - | - | - | 27 | 30 | 20 | 32 | 9 | - |
Proceeds from sale-leaseback | ||||||||||||
- | - | - | - | - | - | - | 0 | - | - | - | - | - |
Cash provided by (used for) financing activities - continuing operations | ||||||||||||
-1,493 | -1,699 | -3,265 | -1,286 | -1,689 | - | - | - | - | - | - | - | - |
Cash used for financing activities - discontinued operations | ||||||||||||
0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Cash provided by (used for) financing activities | ||||||||||||
-1,493 | -1,699 | -3,265 | -1,286 | -1,689 | -1,303 | -1,136 | -1,586 | -896 | 1,823 | -652 | -2,244 | -553 |
Effect of exchange rates on cash and cash equivalents | ||||||||||||
21 | -118 | 69 | -39 | -172 | -67 | -92 | 9 | -10 | 62 | 16 | -130 | 56 |
Net increase (decrease) in cash and cash equivalents | ||||||||||||
134 | -100 | 325 | 47 | 10 | -103 | 186 | 19 | -74 | 129 | -365 | -2 | 303 |
Supplemental disclosures: | ||||||||||||
Interest paid | ||||||||||||
289 | 266 | 272 | 272 | 254 | 245 | 206 | 232 | 240 | 158 | 103 | 125 | 147 |
Income taxes paid, net of refunds | ||||||||||||
353 | 337 | 1,182 | 218 | 249 | 337 | 445 | 238 | 77 | 192 | 182 | 696 | 195 |