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: 2015 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenue | $ 12,893 | 12,951 | 12,261 |
| Expense: | |||
| Compensation and benefits | 7,334 | 7,515 | 7,226 |
| Other operating expenses | 3,140 | 3,135 | 2,958 |
| Operating expenses | 10,474 | 10,650 | 10,184 |
| Operating income | 2,419 | 2,301 | 2,077 |
| Interest income | 13 | 21 | 18 |
| Interest expense | (163) | (165) | (167) |
| Cost of extinguishment of debt | 0 | (137) | (24) |
| Investment income | 38 | 37 | 69 |
| Income before income taxes | 2,307 | 2,057 | 1,973 |
| Income tax expense | 671 | 586 | 594 |
| Income from continuing operations | 1,636 | 1,471 | 1,379 |
| Discontinued operations, net of tax | 0 | 26 | 6 |
| Net income before non-controlling interests | 1,636 | 1,497 | 1,385 |
| Less: Net income attributable to non-controlling interests | 37 | 32 | 28 |
| Net income attributable to the Company | 1,599 | 1,465 | 1,357 |
| Basic Per Share Data: | |||
| Basic net income per share Continuing operations (in dollars per share) | 3.01 | 2.64 | 2.46 |
| Net income attributable to the Company (in dollars per share) | 3.01 | 2.69 | 2.47 |
| Diluted Per Share Data: | |||
| Continuing operations (in dollars per share) | 2.98 | 2.61 | 2.42 |
| Net income attributable to the Company (in dollars per share) | 2.98 | 2.65 | 2.43 |
| Average number of shares outstanding | |||
| Basic (in shares) | 531 | 545 | 549 |
| Diluted (in shares) | 536 | 553 | 558 |
| Shares outstanding at December 31 (in shares) | 522 | 540 | 547 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income before non-controlling interests | $ 1,636 | 1,497 | 1,385 |
| Other comprehensive income (loss), before tax: | |||
| Foreign currency translation adjustments | (639) | (527) | (86) |
| Unrealized investment income | 1 | 0 | 1 |
| Gain (loss) related to pension/post-retirement plans | 337 | (1,085) | 1,213 |
| Other comprehensive (loss) income, before tax | (301) | (1,612) | 1,128 |
| Income tax expense (credit) on other comprehensive (loss) income | 72 | (386) | 442 |
| Other comprehensive (loss) income, net of tax | (373) | (1,226) | 686 |
| Comprehensive income | 1,263 | 271 | 2,071 |
| Less: Comprehensive income attributable to non-controlling interests | 37 | 32 | 28 |
| Comprehensive income attributable to the Company | 1,226 | 239 | 2,043 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2015 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,636 | 1,497 | 1,385 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 314 | 302 | 286 |
| Amortization of intangible assets | 109 | 86 | 72 |
| Intangible asset impairment | 0 | 0 | 5 |
| Adjustments and payments related to contingent consideration liability | 11 | 19 | 24 |
| Cost of early extinguishment of debt | 0 | 137 | 24 |
| Provision for deferred income taxes | 178 | 127 | 184 |
| Gain on investments | (38) | (37) | (69) |
| (Gain) Loss on disposition of assets | (13) | (38) | 1 |
| Share-based compensation expense | 88 | 93 | 129 |
| Changes in assets and liabilities: | |||
| Net receivables | (52) | (58) | (245) |
| Other current assets | 3 | 8 | 1 |
| Other assets | (10) | 13 | (141) |
| Accounts payable and accrued liabilities | (125) | 45 | 106 |
| Accrued compensation and employee benefits | 23 | 167 | (8) |
| Accrued income taxes | (15) | 33 | 43 |
| Contributions to pension and other benefit plans in excess of current year expense/credit | (231) | (152) | (432) |
| Other liabilities | (60) | (196) | 8 |
| Effect of exchange rate changes | 70 | 73 | (32) |
| Net cash provided by operations | 1,888 | 2,119 | 1,341 |
| Financing cash flows: | |||
| Purchase of treasury shares | (1,400) | (800) | (550) |
| Proceeds from debt | 1,091 | 1,386 | 547 |
| Repayments of debt | (61) | (331) | (260) |
| Payments for early extinguishment of debt | 0 | (765) | (274) |
| Shares withheld for taxes on vested units treasury shares | (49) | (64) | (79) |
| Issuance of common stock from treasury shares | 224 | 263 | 352 |
| Payments of deferred and contingent consideration for acquisitions | (49) | (55) | (9) |
| Distributions of non-controlling interests | (30) | (20) | (28) |
| Dividends paid | (632) | (582) | (533) |
| Net cash used for financing activities | (906) | (968) | (834) |
| Investing cash flows: | |||
| Capital expenditures | (325) | (368) | (401) |
| Net (purchases) sales of long-term investments | (65) | 6 | 93 |
| Purchase of equity investment | 0 | (304) | 0 |
| Proceeds from sales of fixed assets | 2 | 3 | 5 |
| Dispositions | 71 | 0 | 5 |
| Acquisitions | (952) | (554) | (142) |
| Other, net | 4 | (5) | (6) |
| Net cash used for investing activities | (1,265) | (1,222) | (446) |
| Effect of exchange rate changes on cash and cash equivalents | (301) | (274) | (59) |
| (Decrease) increase in cash and cash equivalents | (584) | (345) | 2 |
| Cash and cash equivalents at beginning of period | 1,958 | 2,303 | |
| Cash and cash equivalents at end of period | 1,374 | 1,958 | 2,303 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MARSH & MCLENNAN COMPANIES, INC. | ||
Ticker: MMC Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,374 | 1,958 |
| Receivables | ||
| Commissions and fees | 3,198 | 3,142 |
| Advanced premiums and claims | 51 | 50 |
| Other | 309 | 280 |
| Gross receivables | 3,558 | 3,472 |
| Less-allowance for doubtful accounts and cancellations | (87) | (95) |
| Net receivables | 3,471 | 3,377 |
| Other current assets | 199 | 198 |
| Total current assets | 5,044 | 5,533 |
| Goodwill | 7,889 | 7,241 |
| Other intangible assets | 1,036 | 692 |
| Fixed assets, net | 773 | 809 |
| Pension related assets | 1,159 | 967 |
| Deferred tax assets | 1,138 | 1,358 |
| Other assets | 1,177 | 1,193 |
| Total assets | 18,216 | 17,793 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 12 | 11 |
| Accounts payable and accrued liabilities | 1,886 | 1,883 |
| Accrued compensation and employee benefits | 1,656 | 1,633 |
| Accrued income taxes | 154 | 150 |
| Total current liabilities | 3,708 | 3,677 |
| Fiduciary liabilities | 4,146 | 4,552 |
| Less cash and investments held in a fiduciary capacity | (4,146) | (4,552) |
| Fiduciary liabilities, net, noncurrent | 0 | 0 |
| Long-term debt | 4,402 | 3,368 |
| Pension, postretirement and postemployment benefits | 2,058 | 2,244 |
| Liability for errors and omissions | 318 | 341 |
| Other liabilities | 1,128 | 1,030 |
| Commitments and contingencies | 0 | 0 |
| Equity: | ||
| Preferred stock, $1 par value, authorized 6,000,000 shares, none issued | 0 | 0 |
| 1,600,000,000 shares, issued 560,641,640 shares at December 31, 2015 and December 31, 2014 | 561 | 561 |
| Additional paid-in capital | 861 | 930 |
| Retained earnings | 11,302 | 10,335 |
| Accumulated other comprehensive loss | (4,220) | (3,847) |
| Non-controlling interests | 89 | 79 |
| Stockholders Equity Subtotal Before Treasury Stock | 8,593 | 8,058 |
| Less treasury shares, at cost, 38,743,686 shares at December 31, 2015 and 20,499,596 shares at December 31, 2014 | (1,991) | (925) |
| Total equity | 6,602 | 7,133 |
| Total liabilities and stockholders' equity | 18,216 | 17,793 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2015 | |
| 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 |