10-K
Annual Report
Marsh & McLennan Companies, Inc.
MMC
CHX
CIK: 62709
File #: 1-5998
Balance Sheet
75 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 3,358,000,000 | 1,442,000,000 |
Cash and cash equivalents held in a fiduciary capacity | 10,794,000,000 | 10,660,000,000 |
Receivables | ||
Commissions and fees | 5,806,000,000 | 5,293,000,000 |
Advanced premiums and claims | 103,000,000 | 103,000,000 |
Other | 660,000,000 | 616,000,000 |
Gross receivables | 6,569,000,000 | 6,012,000,000 |
Less – allowance for credit losses | 151,000,000 | 160,000,000 |
Net receivables | 6,418,000,000 | 5,852,000,000 |
Other current assets | 1,178,000,000 | 1,005,000,000 |
Total current assets | 21,748,000,000 | 18,959,000,000 |
As Reported | — | 8,299,000,000 |
Goodwill | 17,231,000,000 | 16,251,000,000 |
Current Fiscal Period Acquisitions | 813,000,000 | — |
Risk and Insurance Services | 13,200,000,000 | — |
Consulting Segment | 4,000,000,000 | — |
Other intangible assets | 2,630,000,000 | 2,537,000,000 |
Fixed assets, net | 882,000,000 | 871,000,000 |
U.S. | 468,000,000 | 473,000,000 |
United Kingdom (b) | 168,000,000 | 166,000,000 |
Other (c) | 246,000,000 | 232,000,000 |
Pension related assets | 2,051,000,000 | 2,127,000,000 |
Non-U.S. - Pension Benefits | 2,050,000,000 | 2,127,000,000 |
Non-U.S. - Post-retirement Benefits | 0 | 0 |
Right of use assets | 1,541,000,000 | 1,562,000,000 |
Deferred tax assets | 357,000,000 | 358,000,000 |
Other Noncurrent Assets | 357,000,000 | 358,000,000 |
Other assets | 1,590,000,000 | 1,449,000,000 |
Total assets | 48,030,000,000 | 44,114,000,000 |
Operating Segments - Risk and Insurance Services | 34,449,000,000 | 33,022,000,000 |
Operating Segments - Consulting Segment | 11,461,000,000 | 10,446,000,000 |
Operating Segments | 45,910,000,000 | 43,468,000,000 |
Corporate/Eliminations | 2,120,000,000 | 646,000,000 |
As Reported | — | 33,454,000,000 |
LIABILITIES AND EQUITY | ||
Current liabilities: | ||
Short-term debt | 1,619,000,000 | 268,000,000 |
Accounts payable and accrued liabilities | 3,403,000,000 | 3,278,000,000 |
Accrued compensation and employee benefits | 3,346,000,000 | 3,095,000,000 |
Current lease liabilities | 312,000,000 | 310,000,000 |
Accrued income taxes | 321,000,000 | 221,000,000 |
Fiduciary liabilities | 10,794,000,000 | 10,660,000,000 |
Total current liabilities | 19,795,000,000 | 17,832,000,000 |
As Reported | — | 7,172,000,000 |
Long-term debt | 11,844,000,000 | 11,227,000,000 |
Pension, post-retirement and post-employment benefits | 779,000,000 | 921,000,000 |
U.S. - Pension Benefits | 425,000,000 | 569,000,000 |
U.S. - Post-retirement Benefits | 17,000,000 | 19,000,000 |
Non-U.S. - Pension Benefits | 256,000,000 | 243,000,000 |
Non-U.S. - Post-retirement Benefits | 37,000,000 | 45,000,000 |
Long-term lease liabilities | 1,661,000,000 | 1,667,000,000 |
Liability for errors and omissions | 314,000,000 | 355,000,000 |
Other liabilities | 1,267,000,000 | 1,363,000,000 |
Commitments and contingencies | 0 | 0 |
Equity: | ||
Preferred stock, $1 par value, authorized 6,000,000 shares, none issued | 0 | 0 |
Common stock, $1 par value, authorized 1,600,000,000 shares, issued 560,641,640 shares at December 31, 2023 and 2022 | 561,000,000 | 561,000,000 |
Additional paid-in capital | 1,242,000,000 | 1,179,000,000 |
Retained earnings | 22,759,000,000 | 20,301,000,000 |
Accumulated other comprehensive loss | (5,295,000,000) | (5,314,000,000) |
Non-controlling interests | 179,000,000 | 229,000,000 |
Stockholders Equity Subtotal Before Treasury Stock | 19,446,000,000 | 16,956,000,000 |
Less – treasury shares, at cost, 68,635,498 shares at December 31, 2023 and 65,855,914 shares at December 31, 2022 | 7,076,000,000 | 6,207,000,000 |
Total equity | 12,370,000,000 | 10,749,000,000 |
Company common stock | 561,000,000 | 561,000,000 |
ADDITIONAL PAID-IN CAPITAL | 1,242,000,000 | 1,179,000,000 |
RETAINED EARNINGS | 22,759,000,000 | 20,301,000,000 |
Total | (5,295,000,000) | (5,314,000,000) |
TREASURY SHARES | (7,076,000,000) | (6,207,000,000) |
NON-CONTROLLING INTERESTS | 179,000,000 | 229,000,000 |
Pension/Post-Retirement Plans Gains (Losses) | (3,101,000,000) | (2,721,000,000) |
Foreign currency translation adjustments | (2,194,000,000) | (2,593,000,000) |
Total liabilities and stockholders' equity | 48,030,000,000 | 44,114,000,000 |