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: 2014 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 26, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,497 | 1,385 | 1,201 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 302 | 286 | 277 |
| Amortization of intangible assets | 86 | 72 | 72 |
| Intangible asset impairment | 0 | 5 | 8 |
| Adjustments to acquisition related contingent consideration liability | 19 | 24 | (44) |
| Cost of early extinguishment of debt | 137 | 24 | 0 |
| Provision for deferred income taxes | 127 | 184 | 96 |
| Gain on investments | (37) | (69) | (24) |
| (Gain) Loss on disposition of assets | (38) | 1 | 23 |
| Share-based compensation expense | 93 | 129 | 177 |
| Changes in assets and liabilities: | |||
| Net receivables | (58) | (245) | (144) |
| Other current assets | (32) | (70) | (37) |
| Other assets | 25 | (75) | 44 |
| Accounts payable and accrued liabilities | 45 | 106 | (210) |
| Accrued compensation and employee benefits | 167 | (8) | 72 |
| Accrued income taxes | 43 | 43 | 44 |
| Contributions to pension and other benefit plans in excess of current year expense/credit | (152) | (432) | (117) |
| Other liabilities | (185) | 13 | (81) |
| Effect of exchange rate changes | 73 | (32) | (35) |
| Net cash provided by operations | 2,112 | 1,341 | 1,322 |
| Financing cash flows: | |||
| Purchase of treasury shares | (800) | (550) | (230) |
| Proceeds from debt | 1,393 | 547 | 248 |
| Repayments of debt | (331) | (260) | (259) |
| Payments for early extinguishment of debt | (765) | (274) | 0 |
| Shares withheld for taxes on vested units treasury shares | (64) | (79) | (97) |
| Issuance of common stock from treasury shares | 263 | 352 | 248 |
| Payments of deferred and contingent consideration for acquisitions | (55) | (9) | (30) |
| Distributions of non-controlling interests | (20) | (28) | (16) |
| Dividends paid | (582) | (533) | (497) |
| Net cash used for financing activities | (961) | (834) | (633) |
| Investing cash flows: | |||
| Capital expenditures | (368) | (401) | (320) |
| Net sales of long-term investments | 6 | 93 | 20 |
| Purchase of equity investment | (304) | 0 | 0 |
| Proceeds from sales of fixed assets | 3 | 5 | 6 |
| Dispositions | 0 | 5 | 0 |
| Acquisitions | (554) | (142) | (292) |
| Other, net | (5) | (6) | 3 |
| Net cash used for investing activities | (1,222) | (446) | (583) |
| Effect of exchange rate changes on cash and cash equivalents | (274) | (59) | 82 |
| (Decrease) increase in cash and cash equivalents | (345) | 2 | 188 |
| Cash and cash equivalents at beginning of period | 2,303 | 2,301 | |
| Cash and cash equivalents at end of period | 1,958 | 2,303 | 2,301 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2014 | |
| 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 |