v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 1,271 $ 1,291
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and other amortization 717 642
Amortization of acquisition-related intangible assets 868 966
Amortization of financing costs and debt discounts 20 22
Share-based compensation 199 155
Deferred income taxes (186) (317)
Net loss (gain) on sale of businesses and other assets 4 (147)
Loss (income) from investments in unconsolidated affiliates 9 (234)
Distributions from unconsolidated affiliates 30 41
Other operating activities (1) 3
Changes in assets and liabilities, net of effects from acquisitions and dispositions:    
Trade accounts receivable 131 (363)
Prepaid expenses and other assets (430) (224)
Contract costs (116) (154)
Accounts payable and other liabilities (573) 111
Contract liabilities 65 13
Net cash provided by operating activities 2,008 1,805
Cash flows from investing activities:    
Capital expenditures, including capitalized software and other intangibles (679) (718)
Net proceeds from sale of businesses and other assets 0 175
Payments for acquisition of businesses, net of cash acquired 0 (668)
Distributions from unconsolidated affiliates 79 78
Purchases of investments (11) (30)
Proceeds from sale of investments 0 3
Other investing activities (2) 0
Net cash used in investing activities (613) (1,160)
Cash flows from financing activities:    
Debt proceeds 3,160 1,191
Debt repayments (978) (1,610)
Net (repayments of) proceeds from commercial paper and short-term borrowings (767) 869
Payments of debt financing costs (21) 0
Proceeds from issuance of treasury stock 53 72
Purchases of treasury stock, including employee shares withheld for tax obligations (2,603) (1,078)
Settlement activity, net (515) (189)
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (14) (22)
Payments of acquisition-related contingent consideration (30) 0
Other financing activities (35) 13
Net cash used in financing activities (1,750) (754)
Effect of exchange rate changes on cash and cash equivalents 19 (33)
Net change in cash and cash equivalents (336) (142)
Cash and cash equivalents, beginning balance 3,192 3,205
Cash and cash equivalents, ending balance $ 2,856 $ 3,063

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