10-Q
Quarterly Report
Marsh & McLennan Companies, Inc.
MMC
CHX
CIK: 62709
File #: 1-5998
Balance Sheet
58 line items · 2 periods
XBRL
| Item | Jun 30, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 1,653,000,000 | 3,358,000,000 |
Cash and cash equivalents held in a fiduciary capacity | 11,497,000,000 | 10,794,000,000 |
Receivables | ||
Commissions and fees | 7,031,000,000 | 5,806,000,000 |
Advanced premiums and claims | 119,000,000 | 103,000,000 |
Other | 749,000,000 | 660,000,000 |
Gross receivables | 7,899,000,000 | 6,569,000,000 |
Less-allowance for credit losses | 160,000,000 | 151,000,000 |
Net receivables | 7,739,000,000 | 6,418,000,000 |
Other current assets | 1,133,000,000 | 1,178,000,000 |
Total current assets | 22,022,000,000 | 21,748,000,000 |
Goodwill | 17,516,000,000 | 17,231,000,000 |
Current Fiscal Period Acquisitions | 430,000,000 | — |
Risk and Insurance Services | 13,400,000,000 | — |
Consulting | 4,100,000,000 | — |
Other intangible assets | 2,638,000,000 | 2,630,000,000 |
Fixed assets (net of accumulated depreciation and amortization of $1,572 at June 30, 2024 and $1,562 at December 31, 2023) | 879,000,000 | 882,000,000 |
Pension related assets | 2,187,000,000 | 2,051,000,000 |
Right of use assets | 1,468,000,000 | 1,541,000,000 |
Deferred tax assets | 285,000,000 | 357,000,000 |
Other assets | 1,596,000,000 | 1,590,000,000 |
Total assets | 48,591,000,000 | 48,030,000,000 |
LIABILITIES AND EQUITY | ||
Current liabilities: | ||
Short-term debt | 1,267,000,000 | 1,619,000,000 |
Accounts payable and accrued liabilities | 3,205,000,000 | 3,403,000,000 |
Accrued compensation and employee benefits | 2,086,000,000 | 3,346,000,000 |
Current lease liabilities | 304,000,000 | 312,000,000 |
Accrued income taxes | 505,000,000 | 321,000,000 |
Fiduciary liabilities | 11,497,000,000 | 10,794,000,000 |
Total current liabilities | 18,864,000,000 | 19,795,000,000 |
Long-term debt | 12,278,000,000 | 11,844,000,000 |
Pension, post-retirement and post-employment benefits | 715,000,000 | 779,000,000 |
Long-term lease liabilities | 1,586,000,000 | 1,661,000,000 |
Liabilities for errors and omissions | 322,000,000 | 314,000,000 |
Other liabilities | 1,261,000,000 | 1,267,000,000 |
Commitments and contingencies | 0 | 0 |
Equity: | ||
Preferred stock, $1 par value, authorized 6,000,000 shares, none issued | 0 | 0 |
Common stock, $1 par value, authorized 1,600,000,000 shares, issued 560,641,640 shares at June 30, 2024 and December 31, 2023 | 561,000,000 | 561,000,000 |
Additional paid-in capital | 1,197,000,000 | 1,242,000,000 |
Retained earnings | 24,578,000,000 | 22,759,000,000 |
Accumulated other comprehensive loss | (5,527,000,000) | (5,295,000,000) |
Non-controlling interests | 198,000,000 | 179,000,000 |
Stockholders' equity before treasury stock | 21,007,000,000 | 19,446,000,000 |
Less – treasury shares, at cost, 68,717,711 shares at June 30, 2024 and 68,635,498 shares at December 31, 2023 | 7,442,000,000 | 7,076,000,000 |
Total equity | 13,565,000,000 | 12,370,000,000 |
ADDITIONAL PAID-IN CAPITAL | 1,197,000,000 | 1,242,000,000 |
RETAINED EARNINGS | 24,578,000,000 | 22,759,000,000 |
Total | (5,527,000,000) | (5,295,000,000) |
TREASURY SHARES | (7,442,000,000) | (7,076,000,000) |
NON-CONTROLLING INTERESTS | 198,000,000 | 179,000,000 |
Pension/Post-Retirement Plans Gains (Losses) | (3,050,000,000) | (3,101,000,000) |
Foreign Currency Translation Adjustments | (2,477,000,000) | (2,194,000,000) |
Common Stock | — | 561,000,000 |
Total liabilities and stockholders' equity | 48,591,000,000 | 48,030,000,000 |