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: 2020 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 2,046 | 1,773 | 1,670 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 390 | 333 | 311 |
| Amortization of intangible assets | 351 | 314 | 183 |
| Non cash lease expense | 355 | 315 | 0 |
| Adjustments and payments related to contingent consideration liability | (22) | 27 | (4) |
| Loss on deconsolidation of entity | 0 | 0 | 11 |
| Charge for early extinguishment of debt | 0 | 32 | 0 |
| Provision (benefit) for deferred income taxes | 40 | 84 | (39) |
| Loss (gain) on investments | 22 | (22) | 12 |
| Loss (gain) on disposition of assets | 24 | 56 | (48) |
| Share-based compensation expense | 290 | 252 | 193 |
| Change in fair value of acquisition-related derivative contracts | 0 | 8 | 441 |
| Changes in assets and liabilities: | |||
| Net receivables | (75) | (130) | (78) |
| Other current assets | (66) | (13) | 26 |
| Other assets | 86 | (1) | (37) |
| Accounts payable and accrued liabilities | 241 | 120 | 23 |
| Accrued compensation and employee benefits | 207 | 154 | 68 |
| Accrued income taxes | 60 | 42 | (40) |
| Contributions to pension and other benefit plans and current year credit | (356) | (369) | (291) |
| Other liabilities | 108 | (172) | 9 |
| Operating lease liabilities | (351) | (327) | 0 |
| Effect of exchange rate changes | 32 | (115) | 18 |
| Net cash provided by operations | 3,382 | 2,361 | 2,428 |
| Financing cash flows: | |||
| Purchase of treasury shares | 0 | (485) | (675) |
| Net increase in short term borrowings | 1,000 | 300 | 0 |
| Proceeds from issuance of debt | 737 | 6,459 | 591 |
| Repayments of debt | (2,515) | (1,064) | (263) |
| Payment of bridge loan fees | 0 | 0 | (35) |
| Payments for early extinguishment of debt | 0 | (585) | 0 |
| Purchase of non-controlling interests | (3) | (80) | 0 |
| Acquisition-related derivative payments | 0 | (337) | 0 |
| Shares withheld for taxes on vested units treasury shares | (132) | (89) | (67) |
| Issuance of common stock from treasury shares | 132 | 158 | 93 |
| Payments of deferred and contingent consideration for acquisitions | (122) | (65) | (117) |
| Distributions of non-controlling interests | (34) | (16) | (30) |
| Dividends paid | (943) | (890) | (807) |
| Net cash (used for) provided by financing activities | (1,880) | 3,306 | (1,310) |
| Investing cash flows: | |||
| Capital expenditures | (348) | (421) | (314) |
| Net sales (purchases) of long-term investments | 107 | 183 | 4 |
| Purchase of equity investment | 0 | (91) | 0 |
| Proceeds from sales of fixed assets | 6 | 10 | 3 |
| Dispositions | 98 | 229 | 110 |
| Acquisitions | (668) | (5,505) | (884) |
| Other, net | (9) | (76) | (8) |
| Net cash used for investing activities | (814) | (5,671) | (1,089) |
| Effect of exchange rate changes on cash and cash equivalents | 246 | 93 | (168) |
| Increase (decrease) in cash and cash equivalents | 934 | 89 | (139) |
| Cash and cash equivalents at beginning of year | 1,155 | 1,066 | |
| Cash and cash equivalents at end of year | 2,089 | 1,155 | 1,066 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2020 | |
| 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 |