v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 1,738 $ 1,442
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 125 133
Stock-based compensation 290 289
Deferred income tax expense (benefit) 174 55
Net (gains) losses on nontrading investments   1
Assets and liabilities of consolidated VIEs:    
Change in cash and cash equivalents (11) (125)
Net (gains) losses within consolidated VIEs (66) (15)
Net (purchases) proceeds within consolidated VIEs (122) (534)
(Earnings) losses from equity method investees (60) (36)
Distributions of earnings from equity method investees 13 12
Changes in operating assets and liabilities:    
Accounts receivable (603) (624)
Investments, trading (128) (222)
Other assets (330) (157)
Accrued compensation and benefits (740) (903)
Accounts payable and accrued liabilities 450 565
Other liabilities 409 21
Cash flows from operating activities 1,139 (98)
Cash flows from investing activities    
Purchases of investments (308) (69)
Proceeds from sales and maturities of investments 64 197
Distributions of capital from equity method investees 18 15
Net consolidations (deconsolidations) of sponsored investment funds (7) (20)
Acquisitions (73) (30)
Purchases of property and equipment (55) (67)
Cash flows from investing activities (361) 26
Cash flows from financing activities    
Proceeds from long-term borrowings 697  
Repayments of long-term borrowings (700)  
Cash dividends paid (854) (795)
Repurchases of common stock (846) (841)
Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders 249 744
Excess tax benefit from stock-based compensation   72
Other financing activities (9) 10
Cash flows from financing activities (1,463) (810)
Effect of exchange rate changes on cash and cash equivalents 102 (136)
Net increase (decrease) in cash and cash equivalents (583) (1,018)
Cash and cash equivalents, beginning of period 6,091 6,083
Cash and cash equivalents, end of period 5,508 5,065
Supplemental disclosure of cash flow information:    
Interest 122 104
Income taxes (net of refunds) 626 639
Supplemental schedule of noncash investing and financing transactions:    
Issuance of common stock 592 630
PNC preferred stock capital contribution 193 172
Increase (decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds $ (182) $ (694)