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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating cash flows:    
Net income before non-controlling interests $ 2,564 $ 2,299
Adjustments to reconcile net income provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 186 175
Amortization of intangible assets 179 172
Non-cash lease expense 132 143
Adjustments and payments related to contingent consideration assets and liabilities (75) (23)
Net gain on investments (2) (5)
Net (gain) loss on disposition of assets (20) 19
Share-based compensation expense 193 191
Changes in assets and liabilities:    
Net receivables (1,287) (1,029)
Other assets (62) (108)
Accrued compensation and employee benefits (1,226) (1,101)
Provision for taxes, net of payments and refunds 214 245
Contributions to pension and other benefit plans in excess of current year credit (182) (164)
Other liabilities (30) 10
Operating lease liabilities (150) (159)
Net cash provided by operations 434 665 CloseClose
Financing cash flows:    
Purchase of treasury shares (600) (600)
Net proceeds from issuance of commercial paper 749 308
Borrowings from term-loan and credit facilities 0 200
Proceeds from issuance of debt 988 589
Repayments of debt (1,609) (8)
Purchase of non-controlling interests 0 (139)
Shares withheld for taxes on vested units – treasury shares (173) (141)
Issuance of common stock from treasury shares 167 120
Payments of deferred and contingent consideration for acquisitions (81) (185)
Receipts of contingent consideration for dispositions 1 2
Distributions of non-controlling interests (21) (10)
Dividends paid (706) (591)
Change in fiduciary liabilities 901 682
Net cash (used for) provided by financing activities (384) 227
Investing cash flows:    
Capital expenditures (167) (185)
Purchases of long term investments (14) (30)
Sales of long term investments 14 16
Dispositions 27 (17)
Acquisitions, net of cash and cash held in a fiduciary capacity acquired (644) (292)
Other, net 1 7
Net cash used for investing activities (783) (501) CloseClose
Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity (269) 242 CloseClose
(Decrease)/increase in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity (1,002) 633 CloseClose
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at beginning of period 14,152 12,102
Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at end of period 13,150 12,735
Cash and cash equivalents 1,653 1,171
Cash and cash equivalents held in a fiduciary capacity 11,497 11,564
Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity $ 13,150 $ 12,735