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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating cash flows:    
Net income before non-controlling interests $ 3,316 $ 3,037
Adjustments to reconcile net income provided by operations:    
Depreciation and amortization of fixed assets and capitalized software 276 270
Amortization of intangible assets 269 257
Non-cash lease expense 206 215
Adjustments and payments related to contingent consideration assets and liabilities (69) (19)
Net gain on investments 0 (6)
Net (gain) loss on disposition of assets (18) 18
Share-based compensation expense 283 273
Changes in assets and liabilities:    
Net receivables (821) (670)
Other assets (45) (98)
Accrued compensation and employee benefits (582) (458)
Provision for taxes, net of payments and refunds 233 242
Contributions to pension and other benefit plans in excess of current year credit (262) (246)
Other liabilities (211) (103)
Operating lease liabilities (229) (237)
Net cash provided by operations 2,346 2,475 CloseClose
Financing cash flows:    
Purchase of treasury shares (900) (900)
Issuance of commercial paper with maturity greater than 90 days 0 146
Repayment of commercial paper with maturity greater than 90 days 0 (146)
Proceeds from issuance of debt 988 2,170
Repayments of debt (1,613) (12)
Payment of bridge loan commitment fees (23) 0
Purchase of non-controlling interests (5) (139)
Shares withheld for taxes on vested units – treasury shares (177) (145)
Issuance of common stock from treasury shares 221 165
Payments of deferred and contingent consideration for acquisitions (91) (187)
Receipts of deferred and contingent consideration for dispositions 3 2
Distributions of non-controlling interests (29) (18)
Dividends paid (1,110) (944)
Change in fiduciary liabilities 916 1,223
Net cash (used for) provided by financing activities (1,820) 1,215
Investing cash flows:    
Capital expenditures (240) (296)
Purchases of long term investments (18) (44)
Sales of long term investments 17 18
Dispositions 106 (18)
Acquisitions, net of cash and cash held in a fiduciary capacity acquired (1,042) (619)
Other, net 1 16
Net cash used for investing activities (1,176) (943) CloseClose
Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity 219 (120) CloseClose
(Decrease)/increase in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity (431) 2,627 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 13,721 14,729
Cash and cash equivalents 1,798 2,901
Cash and cash equivalents held in a fiduciary capacity 11,923 11,828
Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity $ 13,721 $ 14,729