10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2012 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenue | $ 11,924 | 11,526 | 10,550 |
| Expense: | |||
| Compensation and benefits | 7,134 | 6,969 | 6,465 |
| Other operating expenses | 2,961 | 2,919 | 3,146 |
| Operating expenses | 10,095 | 9,888 | 9,611 |
| Operating income | 1,829 | 1,638 | 939 |
| Interest income | 24 | 28 | 20 |
| Interest expense | (181) | (199) | (233) |
| Cost of extinguishment of debt | (72) | ||
| Investment income | 24 | 9 | 43 |
| Income before income taxes | 1,696 | 1,404 | 769 |
| Income tax expense | 492 | 422 | 204 |
| Income from continuing operations | 1,204 | 982 | 565 |
| Discontinued operations, net of tax | (3) | 33 | 306 |
| Net income before non-controlling interests | 1,201 | 1,015 | 871 |
| Less: Net income attributable to non-controlling interests | 25 | 22 | 16 |
| Net income attributable to the Company | 1,176 | 993 | 855 |
| Basic net income per share | |||
| - Continuing operations | 2.16 | 1.76 | 1.01 |
| - Net income attributable to the Company | 2.16 | 1.82 | 1.56 |
| Diluted net income per share | |||
| - Continuing operations | 2.13 | 1.73 | 1.00 |
| - Net income attributable to the Company | 2.13 | 1.79 | 1.55 |
| Average number of shares outstanding | |||
| - Basic | 544 | 542 | 540 |
| - Diluted | 552 | 551 | 544 |
| Shares outstanding at December 31, | 545 | 539 | 541 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2012 | |||
Statements of Consolidated Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Net income before non-controlling interests | $ 1,201 | 1,015 | 871 |
| Other comprehensive income (loss), before tax: | |||
| Foreign currency translation adjustments | 177 | (100) | (34) |
| Unrealized investment loss | (1) | (9) | (17) |
| Loss related to pension/post-retirement plans | (447) | (1,114) | (146) |
| Other comprehensive loss, before tax | (271) | (1,223) | (197) |
| Income tax credit on other comprehensive loss | (152) | (335) | (68) |
| Other comprehensive loss, net of tax | (119) | (888) | (129) |
| Comprehensive income | 1,082 | 127 | 742 |
| Less: Comprehensive income attributable to non-controlling interests | 25 | 22 | 16 |
| Comprehensive income attributable to the Company | 1,057 | 105 | 726 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2012 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,201 | 1,015 | 871 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 277 | 267 | 291 |
| Amortization of intangible assets | 72 | 65 | 66 |
| Intangible asset impairment | 8 | ||
| Adjustments to acquisition related contingent consideration liability | (44) | ||
| Charge for early extinguishment of debt | 72 | ||
| Provision for deferred income taxes | 96 | 178 | 16 |
| Gain on investments | (24) | (8) | (40) |
| Loss (gain) on disposition of assets | 23 | 35 | (17) |
| Stock option expense | 26 | 21 | 18 |
| Changes in assets and liabilities: | |||
| Net receivables | (144) | 143 | (216) |
| Other current assets | (37) | (225) | 51 |
| Other assets | (177) | (94) | (216) |
| Accounts payable and accrued liabilities | (210) | 108 | (55) |
| Accrued compensation and employee benefits | 72 | 107 | (13) |
| Accrued income taxes | 44 | 1 | 32 |
| Other liabilities | 174 | 32 | (145) |
| Effect of exchange rate changes | (35) | (12) | 79 |
| Net cash provided by operations | 1,322 | 1,705 | 722 |
| Financing cash flows: | |||
| Purchase of treasury shares | (230) | (361) | (86) |
| Proceeds from issuance of debt | 248 | 496 | |
| Repayments of debt | (259) | (11) | (559) |
| Payments for early extinguishment of debt | (672) | ||
| Purchase of non-controlling interests | (21) | (15) | |
| Shares withheld for taxes on vested units treasury shares | (97) | (93) | (59) |
| Issuance of common stock | 248 | 162 | 41 |
| Payments of contingent consideration for acquisitions | (30) | (16) | |
| Distributions to non-controlling interests | (16) | (11) | |
| Dividends paid | (497) | (480) | (452) |
| Net cash used for financing activities | (633) | (1,007) | (1,130) |
| Investing cash flows: | |||
| Capital expenditures | (320) | (280) | (271) |
| Net sales of long-term investments | 20 | 62 | 91 |
| Proceeds from sales of fixed assets | 6 | 3 | 6 |
| Dispositions | 1,202 | ||
| Acquisitions | (292) | (237) | (492) |
| Other, net | 3 | (5) | (1) |
| Net cash (used for) provided by investing activities | (583) | (457) | 535 |
| Effect of exchange rate changes on cash and cash equivalents | 82 | (22) | (10) |
| Increase in cash and cash equivalents | 188 | 219 | 117 |
| Cash and cash equivalents at beginning of period | 2,113 | 1,894 | |
| Cash and cash equivalents at end of period | 2,301 | 2,113 | 1,894 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MARSH & MCLENNAN COMPANIES, INC. | ||
Ticker: MMC Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,301 | 2,113 |
| Receivables | ||
| Commissions and fees | 2,858 | 2,676 |
| Advanced premiums and claims | 62 | 86 |
| Other | 244 | 249 |
| Gross receivables | 3,164 | 3,011 |
| Less-allowance for doubtful accounts and cancellations | (106) | (105) |
| Net receivables | 3,058 | 2,906 |
| Current deferred tax assets | 410 | 376 |
| Other current assets | 194 | 253 |
| Total current assets | 5,963 | 5,648 |
| Goodwill and intangible assets | 7,261 | 6,963 |
| Fixed assets, net | 809 | 804 |
| Pension related assets | 260 | 39 |
| Deferred tax assets | 1,223 | 1,205 |
| Other assets | 772 | 795 |
| Total assets | 16,288 | 15,454 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 260 | 260 |
| Accounts payable and accrued liabilities | 1,721 | 2,016 |
| Accrued compensation and employee benefits | 1,473 | 1,400 |
| Accrued income taxes | 110 | 63 |
| Total current liabilities | 3,564 | 3,739 |
| Fiduciary liabilities | 3,992 | 4,082 |
| Less cash and investments held in a fiduciary capacity | (3,992) | (4,082) |
| Net fiduciary assets | 0 | 0 |
| Long-term debt | 2,658 | 2,668 |
| Pension, postretirement and postemployment benefits | 2,094 | 1,655 |
| Liabilities for errors and omissions | 460 | 468 |
| Other liabilities | 906 | 984 |
| 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, 2012 and December 31, 2011 | 561 | 561 |
| Additional paid-in capital | 1,107 | 1,156 |
| Retained earnings | 8,628 | 7,949 |
| Accumulated other comprehensive loss | (3,307) | (3,188) |
| Non-controlling interests | 64 | 57 |
| Stockholders Equity Subtotal Before Treasury Stock | 7,053 | 6,535 |
| Less treasury shares, at cost, 15,133,774 shares at December 31, 2012 and 21,463,226 shares at December 31, 2011 | (447) | (595) |
| Total equity | 6,606 | 5,940 |
| Total liabilities and stockholders' equity | 16,288 | 15,454 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2012 | |
| 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 |