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: 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 Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
Operating cash flows: | |||
Net income before non-controlling interests | $ 1,015 | 871 | 241 |
Adjustments to reconcile net income to cash used for operations: | |||
Goodwill impairment charge | 315 | ||
Depreciation and amortization of fixed assets and capitalized software | 267 | 291 | 307 |
Amortization of intangible assets | 65 | 66 | 58 |
Charge for early extinguishment of debt | 72 | ||
Provision for deferred income taxes | 178 | 16 | 42 |
(Gain) loss on investments | (8) | (40) | 8 |
Loss (gain) on disposition of assets | 35 | (17) | 56 |
Stock option expense | 21 | 18 | 11 |
Changes in assets and liabilities: | |||
Net receivables | 143 | (216) | (81) |
Other current assets | (225) | 51 | (28) |
Other assets | (94) | (216) | 118 |
Accounts payable and accrued liabilities | 108 | (55) | 124 |
Accrued compensation and employee benefits | 107 | (13) | 92 |
Accrued income taxes | 1 | 32 | (95) |
Other liabilities | 32 | (145) | (487) |
Effect of exchange rate changes | (12) | 79 | (41) |
Net cash provided by operations | 1,705 | 722 | 640 |
Financing cash flows: | |||
Purchase of treasury shares | (361) | (86) | |
Proceeds from issuance of debt | 496 | 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 stock | 162 | 41 | 34 |
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 investments | 62 | 91 | 53 |
Proceeds from sales of fixed assets | 3 | 6 | 7 |
Dispositions | 1,202 | 75 | |
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 equivalents | 219 | 117 | 92 |
Cash and cash equivalents at beginning of period | 1,894 | 1,777 | |
Cash and cash equivalents at end of period | 2,113 | 1,894 | 1,777 |
Cash and cash equivalentsreported as discontinued operations | 0 | 0 | 70 |
Cash and cash equivalentscontinuing operations | 2,113 | 1,894 | 1,707 |
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 |