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10-K.Info (Beta Test)
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MARSH & MCLENNAN COMPANIES, INC.

Ticker: MMC   Fiscal Year: 2010

CONSOLIDATED STATEMENTS OF INCOME

Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011)

(In Millions)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2010Dec 31, 2009Dec 31, 2008
Revenue
$
10,550
9,83110,730
Expense:
Compensation and benefits6,4656,1826,830
Other operating expenses3,1462,8713,221
Operating expenses9,6119,05310,051
 
Operating income939778679
 
Interest income201747
Interest expense(233)(241)(220)
Investment income (loss)43(2)(12)
Income before income taxes769552494
 
Income taxes20421113
Income from continuing operations565531381
 
Discontinued operations, net of tax306(290)(443)
Net income (loss) before non-controlling interests871241(62)
 
Less: net income attributable to non-controlling interests161411
Net income (loss) attributable to the Company855227(73)
 
Basic net income (loss) per share
-Continuing operations1.010.970.70
-Net income (loss) attributable to the Company1.560.43(0.13)
Diluted net income (loss) per share
-Continuing operations1.000.960.70
-Net income (loss) attributable to the Company1.550.42(0.14)
Average number of shares outstanding- Basic540522514
- Diluted544524515
Shares outstanding at December 31,541530514
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MARSH & MCLENNAN COMPANIES, INC.

Ticker: MMC   Fiscal Year: 2010

CONSOLIDATED STATEMENTS OF CASH FLOWS

Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2010Dec 31, 2009Dec 31, 2008
Operating cash flows:
Net income (loss) before non-controlling interests
$
871
241(62)
Adjustments to reconcile net income (loss) to cash provided by operations:
Goodwill impairment charge315540
Depreciation and amortization of fixed assets and capitalized software291307332
Amortization of intangible assets665872
Provision for deferred income taxes1642103
(Gains)/losses on investments(40)820
(Gains)/losses on disposition of assets(17)5652
Stock option expense181134
Changes in assets and liabilities:
Net receivables(216)(81)270
Other current assets51(28)(18)
Other assets(216)118(106)
Accounts payable and accrued liabilities(55)124(149)
Accrued compensation and employee benefits(13)92(76)
Accrued income taxes32(95)(159)
Other liabilities(145)(487)(119)
Effect of exchange rate changes79(41)206
Net cash provided by operations722640940
 
Financing cash flows:
Purchase of treasury shares(86)
Proceeds from issuance of debt398
Repayments of debt(559)(408)(260)
Purchase of non-controlling interests(15)(24)
Shares withheld for taxes on vested units-treasury shares(59)(33)(39)
Issuance of common stock413468
Dividends paid(452)(431)(412)
Net cash used for financing activities(1,130)(464)(643)
 
Investing cash flows:
Capital expenditures(271)(305)(386)
Net sales of long-term investments915397
Proceeds from sales of fixed assets6711
Dispositions1,2027556
Acquisitions(492)(73)(126)
Other, net(1)7
Net cash provided by (used for) investing activities535(236)(348)
 
Effect of exchange rate changes on cash and cash equivalents(10)152(397)
Increase (decrease) in cash and cash equivalents11792(448)
 
Cash and cash equivalents at beginning of period1,7771,685
Cash and cash equivalents at end of period1,8941,7771,685
 
Cash and cash equivalents-reported as discontinued operations7047
Cash and cash equivalents-continuing operations1,8941,7071,638
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MARSH & MCLENNAN COMPANIES, INC.

Ticker: MMC   Fiscal Year: 2010

CONSOLIDATED BALANCE SHEETS

Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2010Dec 31, 2009
ASSETS
Current assets:
Cash and cash equivalents
$
1,894
1,707
Receivables
Commissions and fees2,5442,298
Advanced premiums and claims9686
Income tax receivable323175
Other186272
Gross receivables3,1492,831
 
Less-allowance for doubtful accounts and cancellations(114)(107)
Net receivables3,0352,724
 
Current assets of discontinued operations221
Other current assets347279
Total current assets5,2764,931
 
Goodwill and intangible assets6,8236,219
Fixed assets, net822850
Pension related assets26594
Deferred tax assets1,2051,234
Non-current assets of discontinued operations1,085
Other assets919924
Total assets15,31015,337
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term debt8558
Accounts payable and accrued liabilities1,7411,751
Accrued compensation and employee benefits1,2941,290
Accrued income taxes62
Liabilities of discontinued operations116
Total current liabilities3,1053,715
 
Fiduciary liabilities3,8243,559
Less-cash and investments held in a fiduciary capacity(3,824)(3,559)
Long-term debt3,0263,034
Pension, postretirement and postemployment benefits1,2111,182
Liability for errors and omissions430518
Other liabilities1,1231,025
Commitments and contingencies  
Stockholders' equity:
Preferred stock, $1 par value, authorized 6,000,000 shares, none issued  
Common stock, $1 par value, authorized 1,600,000,000 shares, issued 560,641,640 shares at 2010 and 2009561561
Additional paid-in capital1,1851,211
Retained earnings7,4367,033
Accumulated other comprehensive loss(2,300)(2,171)
Non-controlling interests4735
Stockholders' equity before treasury stock6,9296,669
 
Less-treasury shares at cost, 20,132,120 at 2010 and 30,967,116 at 2009(514)(806)
Total equity6,4155,863
 
Total liabilities and stockholders' equity15,31015,337
 
External Links 
MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2010
Statements of 10-K in Excel https://www.sec.gov/.../Financial.xlxs
Complete 10-K in HTML https://www.sec.gov/.../10-K.html
Complete 10-K in XBRL https://www.sec.gov/.../10-K-xbrl.zip