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: 2021 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 3,174 | 2,046 | 1,773 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 382 | 390 | 333 |
| Amortization of intangible assets | 365 | 351 | 314 |
| Non cash lease expense | 327 | 355 | 315 |
| Adjustments and payments related to contingent consideration assets and liabilities | 27 | (22) | 27 |
| Gain on consolidation of entity | (267) | 0 | 0 |
| Charge for early extinguishment of debt | 0 | 0 | 32 |
| (Benefit) provision for deferred income taxes | (63) | 40 | 84 |
| Net (gain) loss on investments | (61) | 22 | (22) |
| Net (gain) loss on disposition of assets | (33) | 24 | 56 |
| Share-based compensation expense | 348 | 290 | 252 |
| Change in fair value of acquisition-related derivative contracts | 0 | 0 | 8 |
| Changes in assets and liabilities: | |||
| Net receivables | (252) | (75) | (130) |
| Other current assets | (166) | (66) | (13) |
| Other assets | (215) | 86 | (1) |
| Accounts payable and accrued liabilities | 225 | 241 | 120 |
| Accrued compensation and employee benefits | 527 | 207 | 154 |
| Accrued income taxes | (45) | 60 | 42 |
| Contributions to pension and other benefit plans in excess of current year credit | (372) | (356) | (369) |
| Other liabilities | 2 | 108 | (172) |
| Operating lease liabilities | (349) | (351) | (327) |
| Effect of exchange rate changes | (38) | 32 | (115) |
| Net cash provided by operations | 3,516 | 3,382 | 2,361 |
| Financing cash flows: | |||
| Purchase of treasury shares | (1,159) | 0 | (485) |
| Borrowings from term-loan and credit facilities | 0 | 1,000 | 300 |
| Proceeds from issuance of debt | 743 | 737 | 6,459 |
| Repayments of debt | (1,016) | (2,515) | (1,064) |
| Payments for early extinguishment of debt | 0 | 0 | (585) |
| Purchase of non-controlling interests | 0 | (3) | (80) |
| Acquisition-related derivative payments | 0 | 0 | (337) |
| Shares withheld for taxes on vested units treasury shares | (101) | (132) | (89) |
| Issuance of common stock from treasury shares | 161 | 132 | 158 |
| Payments of deferred and contingent consideration for acquisitions | (117) | (122) | (65) |
| Receipts of contingent consideration for dispositions | 71 | 0 | 0 |
| Distributions of non-controlling interests | (36) | (34) | (16) |
| Dividends paid | (1,026) | (943) | (890) |
| Change in fiduciary liabilities | 1,183 | 955 | 1,025 |
| Net cash (used for) provided by financing activities | (1,297) | (925) | 4,331 |
| Investing cash flows: | |||
| Capital expenditures | (406) | (348) | (421) |
| Net sales (purchases) of long-term investments | 18 | 107 | 183 |
| Purchase of equity investment | (5) | 0 | (91) |
| Dispositions | 84 | 98 | 229 |
| Acquisitions, net of cash and cash held in a fiduciary capacity acquired | (859) | (647) | (4,229) |
| Other, net | 4 | (3) | (66) |
| Net cash used for investing activities | (1,164) | (793) | (4,395) |
| Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | (355) | 511 | 135 |
| Increase in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | 700 | 2,175 | 2,432 |
| Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at beginning of year | 10,674 | 8,499 | |
| Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at end of year | 11,374 | 10,674 | 8,499 |
| Cash and cash equivalents | 1,752 | 2,089 | 1,155 |
| Cash and cash equivalents held in a fiduciary capacity | 9,622 | 8,585 | 7,344 |
| Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | 11,374 | 10,674 | 8,499 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2021 | |
| 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 |