10-K.Info (Beta Test)
Courtesy of Short Sands, LLC
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

MARSH & MCLENNAN COMPANIES, INC.

Ticker: MMC   Fiscal Year: 2011

Consolidated Statements Of Cash Flows

Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2011Dec 31, 2010Dec 31, 2009
Operating cash flows:
Net income before non-controlling interests
$
1,015
871241
Adjustments to reconcile net income to cash used for operations:
Goodwill impairment charge  315
Depreciation and amortization of fixed assets and capitalized software267291307
Amortization of intangible assets656658
Charge for early extinguishment of debt72  
Provision for deferred income taxes1781642
(Gain) loss on investments(8)(40)8
Loss (gain) on disposition of assets35(17)56
Stock option expense211811
Changes in assets and liabilities:
Net receivables143(216)(81)
Other current assets(225)51(28)
Other assets(94)(216)118
Accounts payable and accrued liabilities108(55)124
Accrued compensation and employee benefits107(13)92
Accrued income taxes132(95)
Other liabilities32(145)(487)
Effect of exchange rate changes(12)79(41)
Net cash provided by operations1,705722640
 
Financing cash flows:
Purchase of treasury shares(361)(86) 
Proceeds from issuance of debt496 398
Repayments of debt(11)(559)(408)
Payments for early extinguishment of debt(672)  
Purchase of non-controlling interests(21)(15)(24)
Shares withheld for taxes on vested units - treasury shares(93)(59)(33)
Issuance of common stock1624134
Contingent payments for acquisitions(16)  
Distributions to non-controlling interests(11)  
Dividends paid(480)(452)(431)
Net cash used for financing activities(1,007)(1,130)(464)
 
Investing cash flows:
Capital expenditures(280)(271)(305)
Net sales of long-term investments629153
Proceeds from sales of fixed assets367
Dispositions 1,20275
Acquisitions(237)(492)(73)
Other, net(5)(1)7
Net cash (used for) provided by investing activities(457)535(236)
 
Effect of exchange rate changes on cash and cash equivalents(22)(10)152
Decrease in cash and cash equivalents21911792
 
Cash and cash equivalents at beginning of period1,8941,777
Cash and cash equivalents at end of period2,1131,8941,777
 
Cash and cash equivalentsreported as discontinued operations0070
Cash and cash equivalentscontinuing operations2,1131,8941,707
External Links 
MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2011
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