Willis Towers Watson (WTW) annual cash flow statement covering fiscal 2017 through 2022, as reported to the SEC.
Net cash from operating activities has shrunk 1.2% a year on average since fiscal 2017, from $862M to $812M.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||||||||||
NET INCOME | |||||||||||||||||||||
1,024,000 | 4,236,000 | 1,020,000 | 1,073,000 | 715,000 | 592,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
NET INCOME | 1,024,000 | 4,236,000 | 1,020,000 | 1,073,000 | 715,000 | 592,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income to total net cash from operating activities: | |||||||||||||||||||||
Income from discontinued operations | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income from discontinued operations | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill impairment | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill impairment | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net gain on disposal of operations, fixed and intangible assets and gain on remeasurement of previously held equity interest | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net gain on disposal of operations, fixed and intangible assets and gain on remeasurement of previously held equity interest | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain on disposal of London headquarters | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain on disposal of London headquarters | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Depreciation | |||||||||||||||||||||
255,000 | 281,000 | 308,000 | 240,000 | 213,000 | 252,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation | 255,000 | 281,000 | 308,000 | 240,000 | 213,000 | 252,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization | |||||||||||||||||||||
312,000 | 369,000 | 462,000 | 489,000 | 534,000 | 581,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization | 312,000 | 369,000 | 462,000 | 489,000 | 534,000 | 581,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Impairment | |||||||||||||||||||||
81,000 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Impairment | 81,000 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash restructuring charges | |||||||||||||||||||||
71,000 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash restructuring charges | 71,000 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash lease expense | |||||||||||||||||||||
120,000 | 160,000 | 146,000 | 148,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash lease expense | 120,000 | 160,000 | 146,000 | 148,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net periodic benefit of defined benefit pension plans | |||||||||||||||||||||
-153,000 | -168,000 | -196,000 | -135,000 | -163,000 | -91,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net periodic benefit of defined benefit pension plans | -153,000 | -168,000 | -196,000 | -135,000 | -163,000 | -91,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of cash retention awards | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of cash retention awards | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for doubtful receivables from clients | |||||||||||||||||||||
13,000 | 19,000 | 29,000 | 9,000 | 8,000 | 17,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for doubtful receivables from clients | 13,000 | 19,000 | 29,000 | 9,000 | 8,000 | 17,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Benefit from deferred income taxes | |||||||||||||||||||||
-50,000 | 226,000 | 99,000 | -72,000 | -115,000 | -285,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Benefit from deferred income taxes | -50,000 | 226,000 | 99,000 | -72,000 | -115,000 | -285,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain on derivative instruments | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain on derivative instruments | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Excess tax benefits from share-based payment arrangements | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Excess tax benefits from share-based payment arrangements | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Share-based compensation | |||||||||||||||||||||
99,000 | 101,000 | 90,000 | 74,000 | 50,000 | 67,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Share-based compensation | 99,000 | 101,000 | 90,000 | 74,000 | 50,000 | 67,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net (gain)/loss on disposal of operations | |||||||||||||||||||||
-59,000 | 2,679,000 | 81,000 | -2,000 | -9,000 | 13,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net (gain)/loss on disposal of operations | -59,000 | 2,679,000 | 81,000 | -2,000 | -9,000 | 13,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash foreign exchange loss/(gain) | |||||||||||||||||||||
137,000 | 10,000 | 6,000 | -26,000 | -26,000 | -77,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash foreign exchange loss/(gain) | 137,000 | 10,000 | 6,000 | -26,000 | -26,000 | -77,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net gain on disposal of operations and fixed and intangible assets and gain on re-measurement of equity interests | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net gain on disposal of operations and fixed and intangible assets and gain on re-measurement of equity interests | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||||
-6,000 | 25,000 | 41,000 | -17,000 | -8,000 | 57,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | -6,000 | 25,000 | 41,000 | -17,000 | -8,000 | 57,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Tender premium included in loss on extinguishment of debt | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Tender premium included in loss on extinguishment of debt | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Make-whole on repurchase and redemption of senior notes and write-off of unamortized debt issuance costs | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Make-whole on repurchase and redemption of senior notes and write-off of unamortized debt issuance costs | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Undistributed earnings of associates | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Undistributed earnings of associates | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash Venezuela currency devaluation | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash Venezuela currency devaluation | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on net income | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on net income | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in operating assets and liabilities, net of effects from purchase of subsidiaries: | |||||||||||||||||||||
Accounts receivable | |||||||||||||||||||||
188,000 | 134,000 | -72,000 | 261,000 | -68,000 | 64,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable | 188,000 | 134,000 | -72,000 | 261,000 | -68,000 | 64,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Fiduciary assets | |||||||||||||||||||||
- | - | - | - | 839,000 | 1,167,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Fiduciary assets | - | - | - | - | 839,000 | 1,167,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Fiduciary liabilities | |||||||||||||||||||||
- | - | - | - | 839,000 | 1,167,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Fiduciary liabilities | - | - | - | - | 839,000 | 1,167,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash incentives paid | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash incentives paid | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Funding of defined benefit pension plans | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Funding of defined benefit pension plans | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
197,000 | 122,000 | 205,000 | 269,000 | 22,000 | 128,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 197,000 | 122,000 | 205,000 | 269,000 | 22,000 | 128,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other liabilities | |||||||||||||||||||||
-495,000 | -175,000 | 215,000 | -264,000 | -20,000 | -51,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other liabilities | -495,000 | -175,000 | 215,000 | -264,000 | -20,000 | -51,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provisions | |||||||||||||||||||||
-8,000 | -18,000 | -138,000 | 4,000 | -23,000 | -35,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provisions | -8,000 | -18,000 | -138,000 | 4,000 | -23,000 | -35,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by continuing operating activities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by continuing operating activities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in discontinued operating activities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in discontinued operating activities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash from operating activities | |||||||||||||||||||||
812,000 | 2,061,000 | 1,774,000 | 1,081,000 | 1,288,000 | 862,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash from operating activities | 812,000 | 2,061,000 | 1,774,000 | 1,081,000 | 1,288,000 | 862,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
CASH FLOWS USED IN INVESTING ACTIVITIES | |||||||||||||||||||||
Additions to fixed assets and software for internal use | |||||||||||||||||||||
138,000 | 148,000 | 223,000 | 246,000 | 268,000 | 300,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additions to fixed assets and software for internal use | 138,000 | 148,000 | 223,000 | 246,000 | 268,000 | 300,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Capitalized software costs | |||||||||||||||||||||
66,000 | 53,000 | 63,000 | 59,000 | 54,000 | 75,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Capitalized software costs | 66,000 | 53,000 | 63,000 | 59,000 | 54,000 | 75,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds on disposal of fixed and intangible assets | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds on disposal of fixed and intangible assets | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additions to intangible assets | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additions to intangible assets | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisitions of operations, net of cash acquired | |||||||||||||||||||||
81,000 | 47,000 | 69,000 | 1,329,000 | 36,000 | 13,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisitions of operations, net of cash acquired | 81,000 | 47,000 | 69,000 | 1,329,000 | 36,000 | 13,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net (payments)/proceeds from sale of operations | |||||||||||||||||||||
59,000 | -4,048,000 | -237,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net (payments)/proceeds from sale of operations | 59,000 | -4,048,000 | -237,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisition of investments in associates | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisition of investments in associates | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from Sale of Equity Method Investments | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from Sale of Equity Method Investments | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net proceeds from sale of operations | |||||||||||||||||||||
- | - | - | - | 4,000 | 57,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net proceeds from sale of operations | - | - | - | - | 4,000 | 57,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sale of operations | |||||||||||||||||||||
- | - | - | 17,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sale of operations | - | - | - | 17,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash and fiduciary funds transferred in sale of operations | |||||||||||||||||||||
29,000 | 1,030,000 | 25,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and fiduciary funds transferred in sale of operations | 29,000 | 1,030,000 | 25,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
(Purchase)/sale of investments | |||||||||||||||||||||
-200,000 | 200,000 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
(Purchase)/sale of investments | -200,000 | 200,000 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchase of investments | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchase of investments | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||||
- | - | 17,000 | -3,000 | -13,000 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | - | - | 17,000 | -3,000 | -13,000 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds on sale of short-term investments | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds on sale of short-term investments | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sale of continuing operations, net of cash disposed | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sale of continuing operations, net of cash disposed | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sale of discontinued operations, net of cash disposed | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sale of discontinued operations, net of cash disposed | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in investing activities | |||||||||||||||||||||
-173,000 | 2,570,000 | -160,000 | -1,614,000 | -341,000 | -335,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in investing activities | -173,000 | 2,570,000 | -160,000 | -1,614,000 | -341,000 | -335,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
INCREASE IN CASH AND CASH EQUIVALENTS FROM OPERATING AND INVESTING ACTIVITIES | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
INCREASE IN CASH AND CASH EQUIVALENTS FROM OPERATING AND INVESTING ACTIVITIES | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
CASH FLOWS USED IN FINANCING ACTIVITIES | |||||||||||||||||||||
Proceeds from drawdown of revolving credit facility | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from drawdown of revolving credit facility | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net payments on revolving credit facility | |||||||||||||||||||||
- | - | - | 131,000 | 754,000 | 642,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net payments on revolving credit facility | - | - | - | 131,000 | 754,000 | 642,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Senior notes issued | |||||||||||||||||||||
750,000 | - | 282,000 | 997,000 | 998,000 | 649,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Senior notes issued | 750,000 | - | 282,000 | 997,000 | 998,000 | 649,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issue of short-term debt, net of debt issuance costs | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issue of short-term debt, net of debt issuance costs | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of other debt | |||||||||||||||||||||
- | - | - | 1,100,000 | - | 32,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of other debt | - | - | - | 1,100,000 | - | 32,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Debt issuance costs | |||||||||||||||||||||
5,000 | 4,000 | 2,000 | 13,000 | 8,000 | 9,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Debt issuance costs | 5,000 | 4,000 | 2,000 | 13,000 | 8,000 | 9,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayments of debt | |||||||||||||||||||||
585,000 | 1,008,000 | 327,000 | 995,000 | 170,000 | 734,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayments of debt | 585,000 | 1,008,000 | 327,000 | 995,000 | 170,000 | 734,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayments of debt | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayments of debt | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from Issuance of Long-term Debt | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from Issuance of Long-term Debt | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issue of other debt | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issue of other debt | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Make-whole on repurchase and redemption of senior notes | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Make-whole on repurchase and redemption of senior notes | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repurchase of shares | |||||||||||||||||||||
3,530,000 | 1,627,000 | - | 150,000 | 602,000 | 532,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repurchase of shares | 3,530,000 | 1,627,000 | - | 150,000 | 602,000 | 532,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of shares | |||||||||||||||||||||
7,000 | 10,000 | 16,000 | 45,000 | 45,000 | 61,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of shares | 7,000 | 10,000 | 16,000 | 45,000 | 45,000 | 61,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net (payments)/proceeds from fiduciary funds held for clients | |||||||||||||||||||||
-354,000 | 40,000 | -812,000 | -58,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net (payments)/proceeds from fiduciary funds held for clients | -354,000 | 40,000 | -812,000 | -58,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of deferred and contingent consideration related to acquisitions | |||||||||||||||||||||
22,000 | 19,000 | 12,000 | 57,000 | 50,000 | 65,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of deferred and contingent consideration related to acquisitions | 22,000 | 19,000 | 12,000 | 57,000 | 50,000 | 65,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments related to share cancellation | |||||||||||||||||||||
- | - | - | - | - | 177,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments related to share cancellation | - | - | - | - | - | 177,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for employee taxes on withholding shares | |||||||||||||||||||||
34,000 | 16,000 | 14,000 | 15,000 | 30,000 | 18,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for employee taxes on withholding shares | 34,000 | 16,000 | 14,000 | 15,000 | 30,000 | 18,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Excess tax benefits from share-based payment arrangements | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Excess tax benefits from share-based payment arrangements | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends paid | |||||||||||||||||||||
369,000 | 374,000 | 346,000 | 329,000 | 306,000 | 277,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends paid | 369,000 | 374,000 | 346,000 | 329,000 | 306,000 | 277,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisitions of and dividends paid to non-controlling interests | |||||||||||||||||||||
-11,000 | -36,000 | -28,000 | -55,000 | -26,000 | -51,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisitions of and dividends paid to non-controlling interests | -11,000 | -36,000 | -28,000 | -55,000 | -26,000 | -51,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||||
- | - | -3,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | - | - | -3,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from Noncontrolling Interests | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from Noncontrolling Interests | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisition of noncontrolling interests | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisition of noncontrolling interests | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends paid to noncontrolling interests | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends paid to noncontrolling interests | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in financing activities | |||||||||||||||||||||
-3,445,000 | -3,114,000 | 378,000 | 455,000 | -903,000 | -479,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in financing activities | -3,445,000 | -3,114,000 | 378,000 | 455,000 | -903,000 | -479,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | |||||||||||||||||||||
-2,806,000 | 1,517,000 | 1,992,000 | -78,000 | 44,000 | 48,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | -2,806,000 | 1,517,000 | 1,992,000 | -78,000 | 44,000 | 48,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | |||||||||||||||||||||
-164,000 | -127,000 | 126,000 | - | -41,000 | 112,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | -164,000 | -127,000 | 126,000 | - | -41,000 | 112,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||