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: 2016 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenue | $ 13,211 | 12,893 | 12,951 |
| Expense: | |||
| Compensation and benefits | 7,461 | 7,334 | 7,515 |
| Other operating expenses | 3,086 | 3,140 | 3,135 |
| Operating expenses | 10,547 | 10,474 | 10,650 |
| Operating income | 2,664 | 2,419 | 2,301 |
| Interest income | 5 | 13 | 21 |
| Interest expense | (189) | (163) | (165) |
| Cost of extinguishment of debt | 0 | 0 | (137) |
| Investment income | 1 | 38 | 37 |
| Income before income taxes | 2,480 | 2,307 | 2,057 |
| Income tax expense | 685 | 671 | 586 |
| Income from continuing operations | 1,795 | 1,636 | 1,471 |
| Discontinued operations, net of tax | 0 | 0 | 26 |
| Net income before non-controlling interests | 1,795 | 1,636 | 1,497 |
| Less: Net income attributable to non-controlling interests | 27 | 37 | 32 |
| Net income attributable to the Company | 1,768 | 1,599 | 1,465 |
| Basic Per Share Data: | |||
| Basic net income per share Continuing operations (in dollars per share) | 3.41 | 3.01 | 2.64 |
| Net income attributable to the Company (in dollars per share) | 3.41 | 3.01 | 2.69 |
| Diluted Per Share Data: | |||
| Continuing operations (in dollars per share) | 3.38 | 2.98 | 2.61 |
| Net income attributable to the Company (in dollars per share) | 3.38 | 2.98 | 2.65 |
| Average number of shares outstanding | |||
| Basic (in shares) | 519 | 531 | 545 |
| Diluted (in shares) | 524 | 536 | 553 |
| Shares outstanding at December 31 (in shares) | 514 | 522 | 540 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income before non-controlling interests | $ 1,795 | 1,636 | 1,497 |
| Other comprehensive (loss) income, before tax: | |||
| Foreign currency translation adjustments | (742) | (639) | (527) |
| Unrealized investment income | 21 | 1 | 0 |
| Gain (loss) related to pension/post-retirement plans | (119) | 337 | (1,085) |
| Other comprehensive loss, before tax | (840) | (301) | (1,612) |
| Income tax (credit) expense on other comprehensive (loss) income | 33 | 72 | (386) |
| Other comprehensive loss, net of tax | (873) | (373) | (1,226) |
| Comprehensive income | 922 | 1,263 | 271 |
| Less: Comprehensive income attributable to non-controlling interests | 27 | 37 | 32 |
| Comprehensive income attributable to the Company | 895 | 1,226 | 239 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2016 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,795 | 1,636 | 1,497 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 308 | 314 | 302 |
| Amortization of intangible assets | 130 | 109 | 86 |
| Adjustments and payments related to contingent consideration liability | (33) | 11 | 19 |
| Gain on deconsolidation of entity | (11) | 0 | 0 |
| Cost of early extinguishment of debt | 0 | 0 | 137 |
| Provision for deferred income taxes | 68 | 178 | 127 |
| Gain on investments | 0 | (38) | (37) |
| (Gain) Loss on disposition of assets | 6 | (13) | (38) |
| Share-based compensation expense | 109 | 88 | 93 |
| Changes in assets and liabilities: | |||
| Net receivables | (154) | (52) | (58) |
| Other current assets | (9) | 3 | 8 |
| Other assets | 34 | (10) | 13 |
| Accounts payable and accrued liabilities | 55 | (125) | 45 |
| Accrued compensation and employee benefits | 2 | 23 | 167 |
| Accrued income taxes | (21) | (15) | 33 |
| Contributions to pension and other benefit plans in excess of current year expense/credit | (279) | (231) | (152) |
| Other liabilities | (97) | (60) | (196) |
| Effect of exchange rate changes | 104 | 70 | 73 |
| Net cash provided by operations | 2,007 | 1,888 | 2,119 |
| Financing cash flows: | |||
| Purchase of treasury shares | (800) | (1,400) | (800) |
| Net increase in commercial paper | 50 | 0 | 0 |
| Proceeds from debt | 347 | 1,091 | 1,386 |
| Repayments of debt | (12) | (61) | (331) |
| Payments for early extinguishment of debt | 0 | 0 | (765) |
| Shares withheld for taxes on vested units treasury shares | (39) | (49) | (64) |
| Issuance of common stock from treasury shares | 188 | 224 | 263 |
| Payments of deferred and contingent consideration for acquisitions | (98) | (49) | (55) |
| Distributions of non-controlling interests | (21) | (30) | (20) |
| Dividends paid | (682) | (632) | (582) |
| Net cash used for financing activities | (1,067) | (906) | (968) |
| Investing cash flows: | |||
| Capital expenditures | (253) | (325) | (368) |
| Net (purchases) sales of long-term investments | 2 | (65) | 6 |
| Purchase of equity investment | 0 | 0 | (304) |
| Proceeds from sales of fixed assets | 4 | 2 | 3 |
| Dispositions | 0 | 71 | 0 |
| Acquisitions | (813) | (952) | (554) |
| Other, net | 4 | 4 | (5) |
| Net cash used for investing activities | (1,056) | (1,265) | (1,222) |
| Effect of exchange rate changes on cash and cash equivalents | (232) | (301) | (274) |
| Decrease in cash and cash equivalents | (348) | (584) | (345) |
| Cash and cash equivalents at beginning of year | 1,374 | 1,958 | |
| Cash and cash equivalents at end of year | 1,026 | 1,374 | 1,958 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MARSH & MCLENNAN COMPANIES, INC. | ||
Ticker: MMC Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,026 | 1,374 |
| Receivables | ||
| Commissions and fees | 3,370 | 3,198 |
| Advanced premiums and claims | 83 | 51 |
| Other | 286 | 309 |
| Gross receivables | 3,739 | 3,558 |
| Less-allowance for doubtful accounts and cancellations | (96) | (87) |
| Net receivables | 3,643 | 3,471 |
| Other current assets | 215 | 199 |
| Total current assets | 4,884 | 5,044 |
| Goodwill | 8,369 | 7,889 |
| Other intangible assets | 1,126 | 1,036 |
| Fixed assets, net | 725 | 773 |
| Pension related assets | 776 | 1,159 |
| Deferred tax assets | 1,097 | 1,138 |
| Other assets | 1,213 | 1,177 |
| Total assets | 18,190 | 18,216 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 312 | 12 |
| Accounts payable and accrued liabilities | 1,969 | 1,886 |
| Accrued compensation and employee benefits | 1,655 | 1,656 |
| Accrued income taxes | 146 | 154 |
| Total current liabilities | 4,082 | 3,708 |
| Fiduciary liabilities | 4,241 | 4,146 |
| Less cash and investments held in a fiduciary capacity | (4,241) | (4,146) |
| Fiduciary liabilities, net, noncurrent | 0 | 0 |
| Long-term debt | 4,495 | 4,402 |
| Pension, postretirement and postemployment benefits | 2,076 | 2,058 |
| Liability for errors and omissions | 308 | 318 |
| Other liabilities | 957 | 1,128 |
| 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, 2016 and December 31, 2015 | 561 | 561 |
| Additional paid-in capital | 842 | 861 |
| Retained earnings | 12,388 | 11,302 |
| Accumulated other comprehensive loss | (5,093) | (4,220) |
| Non-controlling interests | 80 | 89 |
| Stockholders Equity Subtotal Before Treasury Stock | 8,778 | 8,593 |
| Less treasury shares, at cost, 46,150,415 shares at December 31, 2016 and 38,743,686 shares at December 31, 2015 | (2,506) | (1,991) |
| Total equity | 6,272 | 6,602 |
| Total liabilities and stockholders' equity | 18,190 | 18,216 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2016 | |
| 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 |