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: 2022 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 13, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating cash flows: | |||
| Net income before non-controlling interests | $ 3,087 | 3,174 | 2,046 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization of fixed assets and capitalized software | 381 | 382 | 390 |
| Amortization of intangible assets | 338 | 365 | 351 |
| Non-cash lease expense | 404 | 327 | 355 |
| Adjustments and payments related to contingent consideration assets and liabilities | 11 | 27 | (22) |
| Deconsolidation of Russian businesses | 39 | 0 | 0 |
| Gain on consolidation of entity | (2) | (267) | 0 |
| Net (gain) loss on investments | (21) | (61) | 22 |
| Net (gain) loss on disposition of assets | (127) | (33) | 24 |
| Share-based compensation expense | 367 | 348 | 290 |
| Changes in assets and liabilities: | |||
| Net receivables | (492) | (570) | 412 |
| Other assets | (122) | (354) | 255 |
| Accrued compensation and employee benefits | 171 | 574 | 171 |
| Provision for taxes, net of payments and refunds | (54) | (33) | 63 |
| Contributions to pension and other benefit plans in excess of current year credit | (385) | (372) | (356) |
| Other liabilities | 193 | 358 | (268) |
| Operating lease liabilities | (323) | (349) | (351) |
| Net cash provided by operations | 3,465 | 3,516 | 3,382 |
| Financing cash flows: | |||
| Purchase of treasury shares | (1,950) | (1,159) | 0 |
| Borrowings from term-loan and credit facilities | 0 | 0 | 1,000 |
| Proceeds from issuance of debt | 984 | 743 | 737 |
| Repayments of debt | (365) | (1,016) | (2,515) |
| Net purchase of non-controlling interests | (7) | 0 | (3) |
| Shares withheld for taxes on vested units treasury shares | (198) | (101) | (132) |
| Issuance of common stock from treasury shares | 126 | 161 | 132 |
| Payments of deferred and contingent consideration for acquisitions | (158) | (117) | (122) |
| Receipts of contingent consideration for dispositions | 3 | 71 | 0 |
| Distributions of non-controlling interests | (27) | (36) | (34) |
| Dividends paid | (1,138) | (1,026) | (943) |
| Change in fiduciary liabilities | 1,684 | 1,183 | 955 |
| Net cash used for financing activities | (1,046) | (1,297) | (925) |
| Investing cash flows: | |||
| Capital expenditures | (470) | (406) | (348) |
| Purchases of long term investments | (22) | (28) | (23) |
| Sales of long term investments | 86 | 41 | 130 |
| Dispositions | 119 | 84 | 98 |
| Acquisitions, net of cash and cash held in a fiduciary capacity acquired | (572) | (859) | (647) |
| Other, net | 9 | 4 | (3) |
| Net cash used for investing activities | (850) | (1,164) | (793) |
| Effect of exchange rate changes on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | (841) | (355) | 511 |
| Increase in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | 728 | 700 | 2,175 |
| Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at beginning of year | 11,374 | 10,674 | |
| Cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity at end of year | 12,102 | 11,374 | 10,674 |
| Cash and cash equivalents | 1,442 | 1,752 | 2,089 |
| Cash and cash equivalents held in a fiduciary capacity | 10,660 | 9,622 | 8,585 |
| Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | 12,102 | 11,374 | 10,674 |
| External Links | |
| MARSH & MCLENNAN COMPANIES, INC. (MMC) Fiscal Year 2022 | |
| 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 |