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: 2018 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 21, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,670 | 1,512 | 1,795 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 311 | 312 | 308 |
| Amortization of intangible assets | 183 | 169 | 130 |
| Adjustments and payments related to contingent consideration liability | (4) | (24) | (33) |
| Loss (gain) on deconsolidation of entity | 11 | 0 | (11) |
| (Benefit) Provision for deferred income taxes | (39) | 396 | 68 |
| Loss (Gain) on investments | 12 | (15) | 0 |
| (Gain) Loss on disposition of assets | (48) | 10 | 6 |
| Share-based compensation expense | 193 | 149 | 109 |
| Change in fair value of acquisition-related derivative contracts | 441 | 0 | 0 |
| Changes in assets and liabilities: | |||
| Net receivables | (78) | (454) | (154) |
| Other current assets | 26 | (3) | (9) |
| Other assets | (37) | (199) | 34 |
| Accounts payable and accrued liabilities | 23 | 87 | 55 |
| Accrued compensation and employee benefits | 68 | 63 | 2 |
| Accrued income taxes | (40) | 37 | (21) |
| Contributions to pension and other benefit plans in excess of current year expense/credit | (291) | (457) | (279) |
| Other liabilities | 9 | 406 | (97) |
| Effect of exchange rate changes | 18 | (96) | 104 |
| Net cash provided by operations | 2,428 | 1,893 | 2,007 |
| Financing cash flows: | |||
| Purchase of treasury shares | (675) | (900) | (800) |
| Net increase in commercial paper | 0 | 0 | 50 |
| Proceeds from issuance of debt | 591 | 987 | 347 |
| Repayments of debt | (263) | (315) | (12) |
| Payment of bridge loan fees | (35) | 0 | 0 |
| Shares withheld for taxes on vested units treasury shares | (67) | (49) | (39) |
| Issuance of common stock from treasury shares | 93 | 166 | 188 |
| Payments of deferred and contingent consideration for acquisitions | (117) | (136) | (98) |
| Distributions of non-controlling interests | (30) | (22) | (21) |
| Dividends paid | (807) | (740) | (682) |
| Net cash used for financing activities | (1,310) | (1,009) | (1,067) |
| Investing cash flows: | |||
| Capital expenditures | (314) | (302) | (253) |
| Net sales (purchases) of long-term investments | 4 | (13) | 2 |
| Proceeds from sales of fixed assets | 3 | 8 | 4 |
| Dispositions | 110 | 0 | 0 |
| Acquisitions | (884) | (655) | (813) |
| Other, net | (8) | 6 | 4 |
| Net cash used for investing activities | (1,089) | (956) | (1,056) |
| Effect of exchange rate changes on cash and cash equivalents | (168) | 251 | (232) |
| (Decrease) Increase in cash and cash equivalents | (139) | 179 | (348) |
| Cash and cash equivalents at beginning of year | 1,205 | 1,026 | |
| Cash and cash equivalents at end of year | 1,066 | 1,205 | 1,026 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2018 | |
| 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 |