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

Ticker: MMC   Fiscal Year: 2011

Consolidated Statements Of Income

Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012)

(In Millions)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2011Dec 31, 2010Dec 31, 2009
Revenue
$
11,526
10,5509,831
Expense:
Compensation and benefits6,9696,4656,182
Other operating expenses2,9193,1462,871
Operating expenses9,8889,6119,053
 
Operating Income1,638939778
 
Interest income282017
Interest expense(199)(233)(241)
Cost of extinguishment of debt(72)  
Investment income (loss)943(2)
Income before income taxes1,404769552
 
Income tax expense42220421
Income from continuing operations982565531
 
Discontinued operations, net of tax33306(290)
Net income before non-controlling interests1,015871241
 
Less: Net income attributable to non-controlling interests221614
Net income attributable to the Company993855227
 
Basic net income per share
- Continuing operations1.761.010.97
- Net income attributable to the Company1.821.560.43
Diluted net income per share
- Continuing operations1.731.000.96
- Net income attributable to the Company1.791.550.42
Weighted average number of shares outstanding
- Basic542540522
- Diluted551544524
Shares outstanding at December 31,539541530
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MARSH & MCLENNAN COMPANIES, INC.

Ticker: MMC   Fiscal Year: 2011

Consolidated Statements Of Cash Flows

Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2011Dec 31, 2010Dec 31, 2009
Operating cash flows:
Net income before non-controlling interests
$
1,015
871241
Adjustments to reconcile net income to cash used for operations:
Goodwill impairment charge  315
Depreciation and amortization of fixed assets and capitalized software267291307
Amortization of intangible assets656658
Charge for early extinguishment of debt72  
Provision for deferred income taxes1781642
(Gain) loss on investments(8)(40)8
Loss (gain) on disposition of assets35(17)56
Stock option expense211811
Changes in assets and liabilities:
Net receivables143(216)(81)
Other current assets(225)51(28)
Other assets(94)(216)118
Accounts payable and accrued liabilities108(55)124
Accrued compensation and employee benefits107(13)92
Accrued income taxes132(95)
Other liabilities32(145)(487)
Effect of exchange rate changes(12)79(41)
Net cash provided by operations1,705722640
 
Financing cash flows:
Purchase of treasury shares(361)(86) 
Proceeds from issuance of debt496 398
Repayments of debt(11)(559)(408)
Payments for early extinguishment of debt(672)  
Purchase of non-controlling interests(21)(15)(24)
Shares withheld for taxes on vested units - treasury shares(93)(59)(33)
Issuance of common stock1624134
Contingent payments for acquisitions(16)  
Distributions to non-controlling interests(11)  
Dividends paid(480)(452)(431)
Net cash used for financing activities(1,007)(1,130)(464)
 
Investing cash flows:
Capital expenditures(280)(271)(305)
Net sales of long-term investments629153
Proceeds from sales of fixed assets367
Dispositions 1,20275
Acquisitions(237)(492)(73)
Other, net(5)(1)7
Net cash (used for) provided by investing activities(457)535(236)
 
Effect of exchange rate changes on cash and cash equivalents(22)(10)152
Decrease in cash and cash equivalents21911792
 
Cash and cash equivalents at beginning of period1,8941,777
Cash and cash equivalents at end of period2,1131,8941,777
 
Cash and cash equivalentsreported as discontinued operations0070
Cash and cash equivalentscontinuing operations2,1131,8941,707
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MARSH & MCLENNAN COMPANIES, INC.

Ticker: MMC   Fiscal Year: 2011

Consolidated Balance Sheets

Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2011Dec 31, 2010
ASSETS
Current assets:
Cash and cash equivalents
$
2,113
1,894
Receivables
Commissions and fees2,6762,544
Advanced premiums and claims8696
Income tax receivable33323
Other216186
Gross receivables3,0113,149
 
Less-allowance for doubtful accounts and cancellations(105)(114)
Net receivables2,9063,035
 
Current deferred tax assets376177
Other current assets253170
Total current assets5,6485,276
 
Goodwill and intangible assets6,9636,823
Fixed assets, net804822
Pension related assets39265
Deferred tax assets1,2051,205
Other assets795919
Total assets15,45415,310
 
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt2608
Accounts payable and accrued liabilities2,0161,741
Accrued compensation and employee benefits1,4001,294
Accrued income taxes6362
Total current liabilities3,7393,105
 
Fiduciary liabilities4,0823,824
Less - cash and investments held in a fiduciary capacity(4,082)(3,824)
Long-term debt2,6683,026
Pension, postretirement and postemployment benefits1,6551,211
Liabilities for errors and omissions468430
Other liabilities9841,123
Commitments and contingencies00
Equity:
Preferred stock, $1 par value, authorized 6,000,000 shares, none issued00
Common stock, $1 par value, authorized 1,600,000,000 shares, issued 560,641,640 shares at December 31, 2011 and December 31, 2010561561
Additional paid-in capital1,1561,185
Retained earnings7,9497,436
Accumulated other comprehensive loss(3,188)(2,300)
Non-controlling interests5747
Stockholders Equity Subtotal Before Treasury Stock6,5356,929
 
Less treasury shares, at cost, 21,543,833 shares at December 31, 2011 and 20,132,120 shares at December 31, 2010(595)(514)
Total equity5,9406,415
 
Total liabilities and stockholders' equity15,45415,310
 
External Links 
MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2011
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