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: 2013 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenue | $ 12,261 | 11,924 | 11,526 |
| Expense: | |||
| Compensation and benefits | 7,226 | 7,134 | 6,969 |
| Other operating expenses | 2,958 | 2,961 | 2,919 |
| Operating expenses | 10,184 | 10,095 | 9,888 |
| Operating income | 2,077 | 1,829 | 1,638 |
| Interest income | 18 | 24 | 28 |
| Interest expense | (167) | (181) | (199) |
| Cost of extinguishment of debt | (24) | 0 | (72) |
| Investment income | 69 | 24 | 9 |
| Income before income taxes | 1,973 | 1,696 | 1,404 |
| Income tax expense | 594 | 492 | 422 |
| Income from continuing operations | 1,379 | 1,204 | 982 |
| Discontinued operations, net of tax | 6 | (3) | 33 |
| Net income before non-controlling interests | 1,385 | 1,201 | 1,015 |
| Less: Net income attributable to non-controlling interests | 28 | 25 | 22 |
| Net income attributable to the Company | 1,357 | 1,176 | 993 |
| Basic net income per share | |||
| Continuing operations (in dollars per share) | 2.46 | 2.16 | 1.76 |
| Net income attributable to the Company (in dollars per share) | 2.47 | 2.16 | 1.82 |
| Diluted net income per share | |||
| Continuing operations (in dollars per share) | 2.42 | 2.13 | 1.73 |
| Net income attributable to the Company (in dollars per share) | 2.43 | 2.13 | 1.79 |
| Average number of shares outstanding | |||
| Basic (in shares) | 549 | 544 | 542 |
| Diluted (in shares) | 558 | 552 | 551 |
| Shares outstanding at December 31 (in shares) | 547 | 545 | 539 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income before non-controlling interests | $ 1,385 | 1,201 | 1,015 |
| Other comprehensive income (loss), before tax: | |||
| Foreign currency translation adjustments | (86) | 177 | (100) |
| Unrealized investment loss | 1 | (1) | (9) |
| Gain (loss) related to pension/post-retirement plans | 1,213 | (447) | (1,114) |
| Other comprehensive income (loss), before tax | 1,128 | (271) | (1,223) |
| Income tax expense (credit) on other comprehensive loss | 442 | (152) | (335) |
| Other comprehensive income (loss), net of tax | 686 | (119) | (888) |
| Comprehensive income | 2,071 | 1,082 | 127 |
| Less: Comprehensive income attributable to non-controlling interests | 28 | 25 | 22 |
| Comprehensive income attributable to the Company | 2,043 | 1,057 | 105 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2013 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,385 | 1,201 | 1,015 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 286 | 277 | 267 |
| Amortization of intangible assets | 72 | 72 | 65 |
| Intangible asset impairment | 5 | 8 | 0 |
| Adjustments to acquisition related contingent consideration liability | 24 | (44) | 0 |
| Cost of early extinguishment of debt | 24 | 0 | 72 |
| Provision for deferred income taxes | 184 | 96 | 178 |
| Gain on investments | (69) | (24) | (8) |
| Loss on disposition of assets | 1 | 23 | 35 |
| Stock option expense | 18 | 26 | 21 |
| Changes in assets and liabilities: | |||
| Net receivables | (245) | (144) | 143 |
| Other current assets | (70) | (37) | (225) |
| Other assets | (766) | (177) | (94) |
| Accounts payable and accrued liabilities | 106 | (210) | 108 |
| Accrued compensation and employee benefits | (8) | 72 | 107 |
| Accrued income taxes | 43 | 44 | 1 |
| Other liabilities | 383 | 174 | 32 |
| Effect of exchange rate changes | (32) | (35) | (12) |
| Net cash provided by operations | 1,341 | 1,322 | 1,705 |
| Financing cash flows: | |||
| Purchase of treasury shares | (550) | (230) | (361) |
| Proceeds from debt | 547 | 248 | 496 |
| Repayments of debt | (260) | (259) | (11) |
| Payments for early extinguishment of debt | (274) | 0 | (672) |
| Purchase of non-controlling interests | 0 | 0 | (21) |
| Shares withheld for taxes on vested units treasury shares | (79) | (97) | (93) |
| Issuance of common stock from treasury shares | 352 | 248 | 162 |
| Payments of contingent consideration for acquisitions | (9) | (30) | (16) |
| Distributions of non-controlling interests | (28) | (16) | (11) |
| Dividends paid | (533) | (497) | (480) |
| Net cash used for financing activities | (834) | (633) | (1,007) |
| Investing cash flows: | |||
| Capital expenditures | (401) | (320) | (280) |
| Net sales of long-term investments | 93 | 20 | 62 |
| Proceeds from sales of fixed assets | 5 | 6 | 3 |
| Dispositions | 5 | 0 | 0 |
| Acquisitions | (142) | (292) | (237) |
| Other, net | (6) | 3 | (5) |
| Net cash used for investing activities | (446) | (583) | (457) |
| Effect of exchange rate changes on cash and cash equivalents | (59) | 82 | (22) |
| Increase in cash and cash equivalents | 2 | 188 | 219 |
| Cash and cash equivalents at beginning of period | 2,301 | 2,113 | |
| Cash and cash equivalents at end of period | 2,303 | 2,301 | 2,113 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MARSH & MCLENNAN COMPANIES, INC. | ||
Ticker: MMC Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,303 | 2,301 |
| Receivables | ||
| Commissions and fees | 3,065 | 2,858 |
| Advanced premiums and claims | 61 | 62 |
| Other | 282 | 244 |
| Gross receivables | 3,408 | 3,164 |
| Less-allowance for doubtful accounts and cancellations | (98) | (106) |
| Net receivables | 3,310 | 3,058 |
| Current deferred tax assets | 482 | 410 |
| Other current assets | 205 | 194 |
| Total current assets | 6,300 | 5,963 |
| Goodwill and intangible assets | 7,365 | 7,261 |
| Fixed assets, net | 828 | 809 |
| Pension related assets | 979 | 260 |
| Deferred tax assets | 626 | 1,223 |
| Other assets | 882 | 772 |
| Total assets | 16,980 | 16,288 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 334 | 260 |
| Accounts payable and accrued liabilities | 1,861 | 1,721 |
| Accrued compensation and employee benefits | 1,466 | 1,473 |
| Accrued income taxes | 148 | 110 |
| Total current liabilities | 3,809 | 3,564 |
| Fiduciary liabilities | 4,234 | 3,992 |
| Less cash and investments held in a fiduciary capacity | (4,234) | (3,992) |
| Fiduciary liabilities, net, noncurrent | 0 | 0 |
| Long-term debt | 2,621 | 2,658 |
| Pension, postretirement and postemployment benefits | 1,150 | 2,094 |
| Liabilities for errors and omissions | 373 | 460 |
| Other liabilities | 1,052 | 906 |
| 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, 2013 and December 31, 2012 | 561 | 561 |
| Additional paid-in capital | 1,028 | 1,107 |
| Retained earnings | 9,452 | 8,628 |
| Accumulated other comprehensive loss | (2,621) | (3,307) |
| Non-controlling interests | 70 | 64 |
| Stockholders Equity Subtotal Before Treasury Stock | 8,490 | 7,053 |
| Less treasury shares, at cost, 13,882,204 shares at December 31, 2013 and 15,133,774 shares at December 31, 2012 | (515) | (447) |
| Total equity | 7,975 | 6,606 |
| Total liabilities and stockholders' equity | 16,980 | 16,288 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2013 | |
| 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 |