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: 2019 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 20, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 1,773 | 1,670 | 1,512 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 333 | 311 | 312 |
| Amortization of intangible assets | 314 | 183 | 169 |
| Non cash lease expense | 315 | 0 | 0 |
| Adjustments and payments related to contingent consideration liability | 27 | (4) | (24) |
| Loss on deconsolidation of entity | 0 | 11 | 0 |
| Charge for early extinguishment of debt | 32 | 0 | 0 |
| Provision (Benefit) for deferred income taxes | 84 | (39) | 396 |
| (Gain) loss on investments | (22) | 12 | (15) |
| Loss (gain) on disposition of assets | 56 | (48) | 10 |
| Share-based compensation expense | 252 | 193 | 149 |
| Change in fair value of acquisition-related derivative contracts | 8 | 441 | 0 |
| Changes in assets and liabilities: | |||
| Net receivables | (130) | (78) | (454) |
| Other current assets | (13) | 26 | (3) |
| Other assets | (1) | (37) | (199) |
| Accounts payable and accrued liabilities | 120 | 23 | 87 |
| Accrued compensation and employee benefits | 154 | 68 | 63 |
| Accrued income taxes | 42 | (40) | 37 |
| Contributions to pension and other benefit plans in excess of current year expense/credit | (369) | (291) | (457) |
| Other liabilities | (172) | 9 | 406 |
| Operating lease liabilities | (327) | 0 | 0 |
| Effect of exchange rate changes | (115) | 18 | (96) |
| Net cash provided by operations | 2,361 | 2,428 | 1,893 |
| Financing cash flows: | |||
| Purchase of treasury shares | (485) | (675) | (900) |
| Net increase in short term borrowings | 300 | 0 | 0 |
| Proceeds from issuance of debt | 6,459 | 591 | 987 |
| Repayments of debt | (1,064) | (263) | (315) |
| Payment of bridge loan fees | 0 | (35) | 0 |
| Payments for early extinguishment of debt | (585) | 0 | 0 |
| Purchase of non-controlling interests | (80) | 0 | 0 |
| Acquisition-related derivative payments | (337) | 0 | 0 |
| Shares withheld for taxes on vested units treasury shares | (89) | (67) | (49) |
| Issuance of common stock from treasury shares | 158 | 93 | 166 |
| Payments of deferred and contingent consideration for acquisitions | (65) | (117) | (136) |
| Distributions of non-controlling interests | (16) | (30) | (22) |
| Dividends paid | (890) | (807) | (740) |
| Net cash provided by (used for) financing activities | 3,306 | (1,310) | (1,009) |
| Investing cash flows: | |||
| Capital expenditures | (421) | (314) | (302) |
| Net sales (purchases) of long-term investments | 183 | 4 | (13) |
| Purchase of equity investment | (91) | 0 | 0 |
| Proceeds from sales of fixed assets | 10 | 3 | 8 |
| Dispositions | 229 | 110 | 0 |
| Acquisitions | (5,505) | (884) | (655) |
| Other, net | (76) | (8) | 6 |
| Net cash used for investing activities | (5,671) | (1,089) | (956) |
| Effect of exchange rate changes on cash and cash equivalents | 93 | (168) | 251 |
| increase (Decrease) in cash and cash equivalents | 89 | (139) | 179 |
| Cash and cash equivalents at beginning of year | 1,066 | 1,205 | |
| Cash and cash equivalents at end of year | 1,155 | 1,066 | 1,205 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2019 | |
| 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 |