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: 2017 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenue | $ 14,024 | 13,211 | 12,893 |
| Expense: | |||
| Compensation and benefits | 7,884 | 7,461 | 7,334 |
| Other operating expenses | 3,284 | 3,086 | 3,140 |
| Operating expenses | 11,168 | 10,547 | 10,474 |
| Operating income | 2,856 | 2,664 | 2,419 |
| Interest income | 9 | 5 | 13 |
| Interest expense | (237) | (189) | (163) |
| Investment income | 15 | 1 | 38 |
| Income before income taxes | 2,643 | 2,480 | 2,307 |
| Income tax expense | 1,133 | 685 | 671 |
| Income from continuing operations | 1,510 | 1,795 | 1,636 |
| Discontinued operations, net of tax | 2 | 0 | 0 |
| Net income before non-controlling interests | 1,512 | 1,795 | 1,636 |
| Less: Net income attributable to non-controlling interests | 20 | 27 | 37 |
| Net income attributable to the Company | 1,492 | 1,768 | 1,599 |
| Basic Per Share Data: | |||
| Basic net income per share Continuing operations (in dollars per share) | 2.91 | 3.41 | 3.01 |
| Net income attributable to the Company (in dollars per share) | 2.91 | 3.41 | 3.01 |
| Diluted Per Share Data: | |||
| Diluted net income per share - Continuing operations (in dollars per share) | 2.87 | 3.38 | 2.98 |
| Net income attributable to the Company (in dollars per share) | 2.87 | 3.38 | 2.98 |
| Average number of shares outstanding | |||
| Basic (in shares) | 513 | 519 | 531 |
| Diluted (in shares) | 519 | 524 | 536 |
| Shares outstanding at December 31 (in shares) | 509 | 514 | 522 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income before non-controlling interests | $ 1,512 | 1,795 | 1,636 |
| Other comprehensive income (loss), before tax: | |||
| Foreign currency translation adjustments | 717 | (742) | (639) |
| Unrealized investment (loss) income | (7) | 21 | 1 |
| Gain (loss) related to pension/post-retirement plans | 408 | (119) | 337 |
| Other comprehensive income (loss), before tax | 1,118 | (840) | (301) |
| Income tax expense on other comprehensive income | 68 | 33 | 72 |
| Other comprehensive income (loss), net of tax | 1,050 | (873) | (373) |
| Comprehensive income | 2,562 | 922 | 1,263 |
| Less: Comprehensive income attributable to non-controlling interests | 20 | 27 | 37 |
| Comprehensive income attributable to the Company | 2,542 | 895 | 1,226 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MARSH & MCLENNAN COMPANIES, INC. | |||
Ticker: MMC Fiscal Year: 2017 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,512 | 1,795 | 1,636 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 312 | 308 | 314 |
| Amortization of intangible assets | 169 | 130 | 109 |
| Adjustments and payments related to contingent consideration liability | (24) | (33) | 11 |
| Gain on deconsolidation of entity | 0 | (11) | 0 |
| Provision for deferred income taxes | 396 | 68 | 178 |
| Gain on investments | (15) | 0 | (38) |
| Loss (Gain) on disposition of assets | 10 | 6 | (13) |
| Share-based compensation expense | 149 | 109 | 88 |
| Changes in assets and liabilities: | |||
| Net receivables | (454) | (154) | (52) |
| Other current assets | (3) | (9) | 3 |
| Other assets | (199) | 34 | (10) |
| Accounts payable and accrued liabilities | 87 | 55 | (125) |
| Accrued compensation and employee benefits | 63 | 2 | 23 |
| Accrued income taxes | 37 | (21) | (15) |
| Contributions to pension and other benefit plans in excess of current year expense/credit | (457) | (279) | (231) |
| Other liabilities | 406 | (97) | (60) |
| Effect of exchange rate changes | (96) | 104 | 70 |
| Net cash provided by operations | 1,893 | 2,007 | 1,888 |
| Financing cash flows: | |||
| Purchase of treasury shares | (900) | (800) | (1,400) |
| Net increase in commercial paper | 0 | 50 | 0 |
| Proceeds from issuance of debt | 987 | 347 | 1,091 |
| Repayments of debt | (315) | (12) | (61) |
| Shares withheld for taxes on vested units treasury shares | (49) | (39) | (49) |
| Issuance of common stock from treasury shares | 166 | 188 | 224 |
| Payments of deferred and contingent consideration for acquisitions | (136) | (98) | (49) |
| Distributions of non-controlling interests | (22) | (21) | (30) |
| Dividends paid | (740) | (682) | (632) |
| Net cash used for financing activities | (1,009) | (1,067) | (906) |
| Investing cash flows: | |||
| Capital expenditures | (302) | (253) | (325) |
| Net (purchases) sales of long-term investments | (13) | 2 | (65) |
| Proceeds from sales of fixed assets | 8 | 4 | 2 |
| Dispositions | 0 | 0 | 71 |
| Acquisitions | (655) | (813) | (952) |
| Other, net | 6 | 4 | 4 |
| Net cash used for investing activities | (956) | (1,056) | (1,265) |
| Effect of exchange rate changes on cash and cash equivalents | 251 | (232) | (301) |
| Increase (decrease) in cash and cash equivalents | 179 | (348) | (584) |
| Cash and cash equivalents at beginning of year | 1,026 | 1,374 | |
| Cash and cash equivalents at end of year | 1,205 | 1,026 | 1,374 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MARSH & MCLENNAN COMPANIES, INC. | ||
Ticker: MMC Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,205 | 1,026 |
| Receivables | ||
| Commissions and fees | 3,777 | 3,370 |
| Advanced premiums and claims | 65 | 83 |
| Other | 401 | 286 |
| Gross receivables | 4,243 | 3,739 |
| Less-allowance for doubtful accounts and cancellations | (110) | (96) |
| Net receivables | 4,133 | 3,643 |
| Other current assets | 224 | 215 |
| Total current assets | 5,562 | 4,884 |
| Goodwill | 9,089 | 8,369 |
| Other intangible assets | 1,274 | 1,126 |
| Fixed assets, net | 712 | 725 |
| Pension related assets | 1,693 | 776 |
| Deferred tax assets | 669 | 1,097 |
| Other assets | 1,430 | 1,213 |
| Total assets | 20,429 | 18,190 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 262 | 312 |
| Accounts payable and accrued liabilities | 2,083 | 1,969 |
| Accrued compensation and employee benefits | 1,718 | 1,655 |
| Accrued income taxes | 199 | 146 |
| Total current liabilities | 4,262 | 4,082 |
| Fiduciary liabilities | 4,847 | 4,241 |
| Less cash and investments held in a fiduciary capacity | (4,847) | (4,241) |
| Fiduciary liabilities, net, noncurrent | 0 | 0 |
| Long-term debt | 5,225 | 4,495 |
| Pension, postretirement and postemployment benefits | 1,888 | 2,076 |
| Liability for errors and omissions | 301 | 308 |
| Other liabilities | 1,311 | 957 |
| 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, 2017 and December 31, 2016 | 561 | 561 |
| Additional paid-in capital | 784 | 842 |
| Retained earnings | 13,140 | 12,388 |
| Accumulated other comprehensive loss | (4,043) | (5,093) |
| Non-controlling interests | 83 | 80 |
| Stockholders Equity Subtotal Before Treasury Stock | 10,525 | 8,778 |
| Less treasury shares, at cost, 51,930,135 shares at December 31, 2017 and 46,150,415 shares at December 31, 2016 | (3,083) | (2,506) |
| Total equity | 7,442 | 6,272 |
| Total liabilities and stockholders' equity | 20,429 | 18,190 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2017 | |
| 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 |