v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 6,205 $ 5,286 $ 4,526
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:      
Depreciation and amortization 415 358 296
Noncash lease expense 144 118 109
Stock-based compensation 734 622 567
Deferred income tax expense (benefit) (865) (157) 17
Charitable Contribution   589  
Gain related to the Charitable Contribution   (122)  
Contingent consideration fair value adjustments 34 23 53
Other investment gains (165) (244) (30)
Net (gains) losses within CIPs (302) (501) (254)
Net (purchases) proceeds within CIPs (1,683) (2,282) (1,746)
(Earnings) losses from equity method investees (315) (148) (116)
Distributions of earnings from equity method investees 84 32 70
Changes in operating assets and liabilities:      
Accounts receivable (322) (313) (433)
Investments, trading 323 160 (21)
Other assets (172) (60) 141
Accrued compensation and benefits 412 487 58
Accounts payable and accrued liabilities 342 (115) (111)
Other liabilities 75 10 (242)
Net cash provided by/(used in) operating activities 4,944 3,743 2,884
Investing activities      
Purchases of investments (910) (359) (693)
Proceeds from sales and maturities of investments 429 187 417
Distributions of capital from equity method investees 95 183 136
Net consolidations (deconsolidations) of sponsored investment funds (104) (71) (110)
Acquisitions, net of cash acquired (1,106)   (1,510)
Purchases of property and equipment (341) (194) (254)
Net cash provided by/(used in) investing activities (1,937) (254) (2,014)
Financing activities      
Proceeds from long-term borrowings 991 2,245 992
Repayments of long-term borrowings (750)   (1,000)
Cash dividends paid (2,547) (2,260) (2,096)
Repurchases of common stock (1,485) (1,809) (1,911)
Net proceeds from (repayments of) borrowings by CIPs 32 51 111
Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders 1,475 2,051 1,458
Other financing activities (3) (34) (137)
Net cash provided by/(used in) financing activities (2,287) 244 (2,583)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (61) 102 54
Net increase/(decrease) in cash, cash equivalents and restricted cash 659 3,835 (1,659)
Cash, cash equivalents and restricted cash, beginning of year 8,681 4,846 6,505
Cash, cash equivalents and restricted cash, end of year 9,340 8,681 4,846
Supplemental disclosure of cash flow information:      
Interest 189 183 193
Income taxes (net of refunds) 2,720 1,308 1,168
Supplemental schedule of noncash investing and financing transactions:      
Issuance of common stock 387 515 549
PNC preferred stock capital contribution     60
Charitable Contribution of an investment   (589)  
Increase/(decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds $ (2,952) $ (1,414) $ (1,292)