10-Q
Quarterly Report
Marsh & McLennan Companies, Inc.
MMC
CHX
CIK: 62709
File #: 1-5998
Balance Sheet
59 line items · 2 periods
XBRL
| Item | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 1,452,000,000 | 3,358,000,000 |
Cash and cash equivalents held in a fiduciary capacity | 11,458,000,000 | 10,794,000,000 |
Receivables | ||
Commissions and fees | 6,509,000,000 | 5,806,000,000 |
Advanced premiums and claims | 107,000,000 | 103,000,000 |
Other | 757,000,000 | 660,000,000 |
Gross receivables | 7,373,000,000 | 6,569,000,000 |
Less-allowance for credit losses | 157,000,000 | 151,000,000 |
Net receivables | 7,216,000,000 | 6,418,000,000 |
Other current assets | 1,173,000,000 | 1,178,000,000 |
Total current assets | 21,299,000,000 | 21,748,000,000 |
Goodwill | 17,314,000,000 | 17,231,000,000 |
Current Fiscal Period Acquisitions | 216,000,000 | — |
Risk and Insurance Services | 13,200,000,000 | — |
Consulting | 4,100,000,000 | — |
Other intangible assets | 2,631,000,000 | 2,630,000,000 |
Fixed assets (net of accumulated depreciation and amortization of $1,585 at March 31, 2024 and $1,562 at December 31, 2023) | 877,000,000 | 882,000,000 |
Pension related assets | 2,114,000,000 | 2,051,000,000 |
Right of use assets | 1,494,000,000 | 1,541,000,000 |
Deferred tax assets | 276,000,000 | 357,000,000 |
Other assets | 1,567,000,000 | 1,590,000,000 |
Total assets | 47,572,000,000 | 48,030,000,000 |
LIABILITIES AND EQUITY | ||
Current liabilities: | ||
Short-term debt | 1,169,000,000 | 1,619,000,000 |
Accounts payable and accrued liabilities | 3,379,000,000 | 3,403,000,000 |
Accrued compensation and employee benefits | 1,539,000,000 | 3,346,000,000 |
Current lease liabilities | 310,000,000 | 312,000,000 |
Accrued income taxes | 456,000,000 | 321,000,000 |
Dividends payable | 349,000,000 | 0 |
Fiduciary liabilities | 11,458,000,000 | 10,794,000,000 |
Total current liabilities | 18,660,000,000 | 19,795,000,000 |
Long-term debt | 12,300,000,000 | 11,844,000,000 |
Pension, post-retirement and post-employment benefits | 747,000,000 | 779,000,000 |
Long-term lease liabilities | 1,600,000,000 | 1,661,000,000 |
Liabilities for errors and omissions | 324,000,000 | 314,000,000 |
Other liabilities | 1,319,000,000 | 1,267,000,000 |
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 March 31, 2024 and December 31, 2023 | 561,000,000 | 561,000,000 |
Additional paid-in capital | 1,112,000,000 | 1,242,000,000 |
Retained earnings | 23,456,000,000 | 22,759,000,000 |
Accumulated other comprehensive loss | (5,509,000,000) | (5,295,000,000) |
Non-controlling interests | 200,000,000 | 179,000,000 |
Stockholders' equity before treasury stock | 19,820,000,000 | 19,446,000,000 |
Less – treasury shares, at cost, 67,816,273 shares at March 31, 2024 and 68,635,498 shares at December 31, 2023 | 7,198,000,000 | 7,076,000,000 |
Total equity | 12,622,000,000 | 12,370,000,000 |
ADDITIONAL PAID-IN CAPITAL | 1,112,000,000 | 1,242,000,000 |
RETAINED EARNINGS | 23,456,000,000 | 22,759,000,000 |
Total | (5,509,000,000) | (5,295,000,000) |
TREASURY SHARES | (7,198,000,000) | (7,076,000,000) |
NON-CONTROLLING INTERESTS | 200,000,000 | 179,000,000 |
Pension/Post-Retirement Plans Gains (Losses) | (3,064,000,000) | (3,101,000,000) |
Foreign Currency Translation Adjustments | (2,445,000,000) | (2,194,000,000) |
Common Stock | — | 561,000,000 |
Total liabilities and stockholders' equity | 47,572,000,000 | 48,030,000,000 |