10-Q
Quarterly Report
Marsh & McLennan Companies, Inc.
MMC
NYSE
CIK: 62709
File #: 1-5998
Balance Sheet
59 line items · 2 periods
XBRL
| Item | Mar 31, 2025 | Dec 31, 2024 |
|---|---|---|
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 1,604,000,000 | 2,398,000,000 |
Cash and cash equivalents held in a fiduciary capacity | 11,579,000,000 | 11,276,000,000 |
Receivables | ||
Commissions and fees | 7,215,000,000 | 6,533,000,000 |
Advanced premiums and claims | 101,000,000 | 84,000,000 |
Other | 713,000,000 | 706,000,000 |
Gross receivables | 8,029,000,000 | 7,323,000,000 |
Less-allowance for credit losses | 157,000,000 | 167,000,000 |
Net receivables | 7,872,000,000 | 7,156,000,000 |
Other current assets | 1,406,000,000 | 1,287,000,000 |
Total current assets | 22,461,000,000 | 22,117,000,000 |
Goodwill | 23,538,000,000 | 23,306,000,000 |
Current Fiscal Period Acquisitions | 33,000,000 | — |
Risk and Insurance Services | 19,000,000,000 | — |
Consulting | 4,500,000,000 | — |
Other intangible assets | 4,736,000,000 | 4,820,000,000 |
Fixed assets (net of accumulated depreciation and amortization of $1,590 at March 31, 2025 and $1,538 at December 31, 2024) | 840,000,000 | 859,000,000 |
Pension related assets | 2,021,000,000 | 1,914,000,000 |
Right of use assets | 1,477,000,000 | 1,498,000,000 |
Deferred tax assets | 250,000,000 | 237,000,000 |
Other assets | 1,692,000,000 | 1,730,000,000 |
Total assets | 57,015,000,000 | 56,481,000,000 |
LIABILITIES AND EQUITY | ||
Current liabilities: | ||
Short-term debt | 1,667,000,000 | 519,000,000 |
Accounts payable and accrued liabilities | 3,450,000,000 | 3,402,000,000 |
Accrued compensation and employee benefits | 1,798,000,000 | 3,620,000,000 |
Current lease liabilities | 327,000,000 | 325,000,000 |
Accrued income taxes | 554,000,000 | 376,000,000 |
Dividends payable | 400,000,000 | 0 |
Fiduciary liabilities | 11,579,000,000 | 11,276,000,000 |
Total current liabilities | 19,775,000,000 | 19,518,000,000 |
Long-term debt | 18,862,000,000 | 19,428,000,000 |
Pension, post-retirement and post-employment benefits | 832,000,000 | 840,000,000 |
Long-term lease liabilities | 1,563,000,000 | 1,590,000,000 |
Liabilities for errors and omissions | 309,000,000 | 305,000,000 |
Other liabilities | 1,406,000,000 | 1,265,000,000 |
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, 2025 and December 31, 2024 | 561,000,000 | 561,000,000 |
Additional paid-in capital | 1,253,000,000 | 1,370,000,000 |
Retained earnings | 25,881,000,000 | 25,306,000,000 |
Accumulated other comprehensive loss | (5,896,000,000) | (6,240,000,000) |
Non-controlling interests | 203,000,000 | 193,000,000 |
Stockholders' equity before treasury stock | 22,002,000,000 | 21,190,000,000 |
Less – treasury shares, at cost, 67,958,159 shares at March 31, 2025 and 69,239,488 shares at December 31, 2024 | 7,734,000,000 | 7,655,000,000 |
Total equity | 14,268,000,000 | 13,535,000,000 |
ADDITIONAL PAID-IN CAPITAL | 1,253,000,000 | 1,370,000,000 |
RETAINED EARNINGS | 25,881,000,000 | 25,306,000,000 |
Total | (5,896,000,000) | (6,240,000,000) |
TREASURY SHARES | (7,734,000,000) | (7,655,000,000) |
NON-CONTROLLING INTERESTS | 203,000,000 | 193,000,000 |
Pension/Post-Retirement Plans Gains (Losses) | (3,475,000,000) | (3,408,000,000) |
Foreign Currency Translation Adjustments | (2,421,000,000) | (2,832,000,000) |
Common Stock | — | 561,000,000 |
Total liabilities and stockholders' equity | 57,015,000,000 | 56,481,000,000 |