2020 Q4 Form 10-K Financial Statement

#000006270921000008 Filed on February 17, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $4.416B $4.264B $3.968B
YoY Change 3.56% 14.87% 13.24%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.650B $2.478B $2.437B
YoY Change 6.94% 14.56% 16.99%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $194.0M $167.0M $170.0M
YoY Change 16.17% 35.77% 37.1%
% of Gross Profit
Operating Expenses $3.775B $3.529B $3.501B
YoY Change 6.97% 14.17% 18.16%
Operating Profit $571.0M $592.0M $467.0M
YoY Change -3.55% -4.67% -13.68%
Interest Expense -$101.0M -$123.0M $133.0M
YoY Change -17.89% -70.57% 92.75%
% of Operating Profit -17.69% -20.78% 28.48%
Other Income/Expense, Net $70.00M $62.00M $69.00M
YoY Change 12.9% 195.24% 9.52%
Pretax Income $540.0M $531.0M $414.0M
YoY Change 1.69% 137.05% 7.53%
Income Tax $161.0M $135.0M $108.0M
% Of Pretax Income 29.81% 25.42% 26.09%
Net Earnings $374.0M $391.0M $303.0M
YoY Change -4.35% 155.56% 9.78%
Net Earnings / Revenue 8.47% 9.17% 7.64%
Basic Earnings Per Share $0.74 $0.77 $0.60
Diluted Earnings Per Share $0.73 $0.76 $0.59
COMMON SHARES
Basic Shares Outstanding 507.2M shares 504.7M shares 506.0M shares
Diluted Shares Outstanding 511.0M shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.089B $1.155B $1.213B
YoY Change 80.87% 8.35% 27.55%
Cash & Equivalents $2.089B $1.155B $1.213B
Short-Term Investments
Other Short-Term Assets $740.0M $677.0M $645.0M
YoY Change 9.31% 22.87% 19.67%
Inventory
Prepaid Expenses
Receivables $5.326B $5.236B $5.198B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.155B $7.068B $7.056B
YoY Change 15.38% 19.11% 18.27%
LONG-TERM ASSETS
Property, Plant & Equipment $856.0M $858.0M $816.0M
YoY Change -0.23% 22.4% 15.42%
Goodwill $15.52B $14.67B $14.29B
YoY Change 5.77% 52.84% 51.41%
Intangibles $2.699B $2.774B
YoY Change -2.7% 93.04%
Long-Term Investments $280.0M $434.0M $452.0M
YoY Change -35.48% 51.22% 52.7%
Other Assets $1.458B $1.757B $1.653B
YoY Change -17.02% 14.17% 19.7%
Total Long-Term Assets $24.89B $24.29B $24.04B
YoY Change 2.49% 55.26% 58.55%
TOTAL ASSETS
Total Short-Term Assets $8.155B $7.068B $7.056B
Total Long-Term Assets $24.89B $24.29B $24.04B
Total Assets $33.05B $31.36B $31.10B
YoY Change 5.4% 45.32% 47.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.050B $2.746B $2.479B
YoY Change 11.07% 22.92% 8.11%
Accrued Expenses $2.742B $2.539B $2.103B
YoY Change 8.0% 42.8% 49.57%
Deferred Revenue
YoY Change
Short-Term Debt $517.0M $1.215B $625.0M
YoY Change -57.45% 286.94% 733.33%
Long-Term Debt Due $517.0M $1.215B $514.0M
YoY Change -57.45% 286.94% -8.7%
Total Short-Term Liabilities $6.556B $6.679B $6.204B
YoY Change -1.84% 35.64% 31.25%
LONG-TERM LIABILITIES
Long-Term Debt $10.80B $10.74B $11.43B
YoY Change 0.51% 94.94% 107.35%
Other Long-Term Liabilities $1.485B $1.397B $1.388B
YoY Change 6.3% 2.57% 4.99%
Total Long-Term Liabilities $12.28B $12.14B $12.82B
YoY Change 1.18% 76.63% 869.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.556B $6.679B $6.204B
Total Long-Term Liabilities $12.28B $12.14B $12.82B
Total Liabilities $18.84B $18.82B $19.02B
YoY Change 0.11% 59.52% 214.45%
SHAREHOLDERS EQUITY
Retained Earnings $16.27B $15.20B $14.81B
YoY Change 7.06% 5.94% 4.33%
Common Stock $1.504B $1.423B $1.357B
YoY Change 5.69% 3.27% 1.88%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.562B $3.774B $3.617B
YoY Change -5.62% 5.8% 0.84%
Treasury Stock Shares 52.91M shares 57.01M shares 55.64M shares
Shareholders Equity $9.104B $7.793B $7.620B
YoY Change
Total Liabilities & Shareholders Equity $33.05B $31.36B $31.10B
YoY Change 5.4% 45.32% 47.18%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $374.0M $391.0M $303.0M
YoY Change -4.35% 155.56% 9.78%
Depreciation, Depletion And Amortization $194.0M $167.0M $170.0M
YoY Change 16.17% 35.77% 37.1%
Cash From Operating Activities $1.383B $1.070B $1.050B
YoY Change 29.25% -3.52% 15.89%
INVESTING ACTIVITIES
Capital Expenditures -$70.00M -$137.0M -$123.0M
YoY Change -48.91% 48.91% 41.38%
Acquisitions
YoY Change
Other Investing Activities -$98.00M -$30.00M $49.00M
YoY Change 226.67% -87.76% -112.69%
Cash From Investing Activities -$168.0M -$167.0M -$74.00M
YoY Change 0.6% -50.45% -84.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.717B -1.031B -987.0M
YoY Change 66.54% 83.13% 91.65%
NET CHANGE
Cash From Operating Activities 1.383B 1.070B 1.050B
Cash From Investing Activities -168.0M -167.0M -74.00M
Cash From Financing Activities -1.717B -1.031B -987.0M
Net Change In Cash -502.0M -128.0M -11.00M
YoY Change 292.19% -161.24% -86.59%
FREE CASH FLOW
Cash From Operating Activities $1.383B $1.070B $1.050B
Capital Expenditures -$70.00M -$137.0M -$123.0M
Free Cash Flow $1.453B $1.207B $1.173B
YoY Change 20.38% 0.5% 18.13%

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CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentrations of Credit Risk:  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, commissions and fees receivable and insurance recoverables. The Company maintains a policy providing for the diversification of cash and cash equivalent investments and places its investments in a large number of high quality financial institutions to limit the amount of credit risk exposure. Concentrations of credit risk with respect to receivables are generally limited due to the large number of clients and markets in which the Company does business, as well as the dispersion across many geographic areas.</span>
CY2020 us-gaap Profit Loss
ProfitLoss
2046000000 USD
CY2019 us-gaap Profit Loss
ProfitLoss
1773000000 USD
CY2018 us-gaap Profit Loss
ProfitLoss
1670000000 USD
CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
30000000 USD
CY2019 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
31000000 USD
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
20000000 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
2016000000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
1742000000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
1650000000 USD
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
506000000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
506000000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
506000000 shares
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6000000 shares
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5000000 shares
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5000000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
512000000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
511000000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
511000000 shares
CY2020 mmc Average Share Price Common Stock
AverageSharePriceCommonStock
109.12
CY2019 mmc Average Share Price Common Stock
AverageSharePriceCommonStock
97.23
CY2018 mmc Average Share Price Common Stock
AverageSharePriceCommonStock
83.13
CY2020Q4 mmc Uncollected Premiumsand Claims Netof Related Payables
UncollectedPremiumsandClaimsNetofRelatedPayables
11200000000 USD
CY2019Q4 mmc Uncollected Premiumsand Claims Netof Related Payables
UncollectedPremiumsandClaimsNetofRelatedPayables
8900000000 USD
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Estimates:</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. On an ongoing basis, the Company evaluates its estimates, judgments and methodologies. The estimates are based on historical experience and on various other assumptions that the Company believes are reasonable. Such matters include:</span><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the allowance for current expected credit losses on receivables, </span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">estimates of revenue, </span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">impairment assessments and charges, </span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">recoverability of long-lived assets,</span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">liabilities for errors and omissions,</span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">deferred tax assets, uncertain tax positions and income tax expense, </span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">share-based and incentive compensation expense, </span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">useful lives assigned to long-lived assets, and depreciation and amortization,</span></div><div style="margin-top:5pt;padding-left:60.75pt;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">fair value estimates of contingent consideration receivable or payable related to acquisitions or dispositions </span></div><div style="margin-top:5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes these estimates are reasonable based on information currently available at the time they are made. In most situations where estimates, fair values or recoverability of assets is dependent upon short or long term projections of cash flows, revenues or earnings before interest, taxes, depreciation and amortization ("EBITDA"), the Company has based its projections assuming the gradual lifting of global lockdowns during 2021. The Company has also considered potential impacts to its customer base in various industries and geographies. The ultimate extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s businesses, results of operations and financial condition will depend on future developments that are highly uncertain, including new information that may emerge concerning COVID-19 and the actions taken to contain it or treat it, and the economic impact on local, regional, national and international customers and markets. Actual results may differ from these estimates.</span></div>
CY2020 mmc Revenue Percent
RevenuePercent
0.01
CY2020 mmc Brokerage Revenue Number Of Annual Installments
BrokerageRevenueNumberOfAnnualInstallments
4 installment
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
236000000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
207000000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
112000000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
676000000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
593000000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
545000000 USD
CY2020 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
311000000 USD
CY2020 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
284000000 USD
CY2019 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
437000000 USD
CY2019 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
342000000 USD
CY2020 mmc Contractwith Customer Liability Increase Decreasefor Cash Receivedfor Performance Obligations Not Yet Fulfilled
ContractwithCustomerLiabilityIncreaseDecreaseforCashReceivedforPerformanceObligationsNotYetFulfilled
615000000 USD
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
527000000 USD
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
531000000 USD
CY2020 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
-42000000 USD
CY2020 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
97000000 USD
CY2019 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
79000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
135000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
64000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
22000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1000000 USD
CY2020 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1300000000 USD
CY2019 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1200000000 USD
CY2020 mmc Business Combination Consideration Transferred Assets Acquired
BusinessCombinationConsiderationTransferredAssetsAcquired
929000000 USD
CY2019 mmc Business Combination Consideration Transferred Assets Acquired
BusinessCombinationConsiderationTransferredAssetsAcquired
8655000000 USD
CY2018 mmc Business Combination Consideration Transferred Assets Acquired
BusinessCombinationConsiderationTransferredAssetsAcquired
1100000000 USD
CY2020 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
78000000 USD
CY2019 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
2804000000 USD
CY2018 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
83000000 USD
CY2020 mmc Business Combination Consideration Transferred Noncontrolling Interests Assumed
BusinessCombinationConsiderationTransferredNoncontrollingInterestsAssumed
0 USD
CY2019 mmc Business Combination Consideration Transferred Noncontrolling Interests Assumed
BusinessCombinationConsiderationTransferredNoncontrollingInterestsAssumed
280000000 USD
CY2018 mmc Business Combination Consideration Transferred Noncontrolling Interests Assumed
BusinessCombinationConsiderationTransferredNoncontrollingInterestsAssumed
0 USD
CY2020 mmc Business Combination Contingentand Deferred Consideration
BusinessCombinationContingentandDeferredConsideration
183000000 USD
CY2019 mmc Business Combination Contingentand Deferred Consideration
BusinessCombinationContingentandDeferredConsideration
66000000 USD
CY2018 mmc Business Combination Contingentand Deferred Consideration
BusinessCombinationContingentandDeferredConsideration
133000000 USD
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
668000000 USD
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5505000000 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
884000000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
481000000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
427000000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
264000000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
673000000 USD
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
661000000 USD
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
632000000 USD
CY2020 mmc Payments For Previous Acquisition Deferredand Contingent Consideration
PaymentsForPreviousAcquisitionDeferredandContingentConsideration
122000000 USD
CY2020 mmc Payments For Previous Acquisition Deferred Consideration
PaymentsForPreviousAcquisitionDeferredConsideration
68000000 USD
CY2020 mmc Payments For Previous Acquisition Contingent Consideration
PaymentsForPreviousAcquisitionContingentConsideration
54000000 USD
CY2019 mmc Payments For Previous Acquisition Deferredand Contingent Consideration
PaymentsForPreviousAcquisitionDeferredandContingentConsideration
65000000 USD
CY2019 mmc Payments For Previous Acquisition Deferred Consideration
PaymentsForPreviousAcquisitionDeferredConsideration
43000000 USD
CY2019 mmc Payments For Previous Acquisition Contingent Consideration
PaymentsForPreviousAcquisitionContingentConsideration
22000000 USD
CY2018 mmc Payments For Previous Acquisition Deferredand Contingent Consideration
PaymentsForPreviousAcquisitionDeferredandContingentConsideration
117000000 USD
CY2018 mmc Payments For Previous Acquisition Deferred Consideration
PaymentsForPreviousAcquisitionDeferredConsideration
62000000 USD
CY2018 mmc Payments For Previous Acquisition Contingent Consideration
PaymentsForPreviousAcquisitionContingentConsideration
55000000 USD
CY2020 mmc Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Includedin Earnings Net
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedinEarningsNet
26000000 USD
CY2020 mmc Paymentof Contingent Consideration
PaymentofContingentConsideration
48000000 USD
CY2019 mmc Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Includedin Earnings Net
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedinEarningsNet
68000000 USD
CY2019 mmc Paymentof Contingent Consideration
PaymentofContingentConsideration
41000000 USD
CY2018 mmc Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Includedin Earnings Net
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedinEarningsNet
32000000 USD
CY2018 mmc Paymentof Contingent Consideration
PaymentofContingentConsideration
36000000 USD
CY2020 us-gaap Stock Issued1
StockIssued1
219000000 USD
CY2019 us-gaap Stock Issued1
StockIssued1
165000000 USD
CY2018 us-gaap Stock Issued1
StockIssued1
130000000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
290000000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
252000000 USD
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
193000000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1700000000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
142000000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
140000000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
112000000 USD
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1900000000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
140000000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
112000000 USD
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
110000000 USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
47000000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
32000000 USD
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
34000000 USD
CY2020 mmc Allowance For Doubtful Accounts Receivable Writeoffs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteoffsNetOfRecoveries
30000000 USD
CY2019 mmc Allowance For Doubtful Accounts Receivable Writeoffs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteoffsNetOfRecoveries
16000000 USD
CY2018 mmc Allowance For Doubtful Accounts Receivable Writeoffs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteoffsNetOfRecoveries
24000000 USD
CY2020 mmc Allowance For Doubtful Accounts Receivable Effect Of Exchange Rate Changes And Other
AllowanceForDoubtfulAccountsReceivableEffectOfExchangeRateChangesAndOther
-15000000 USD
CY2019 mmc Allowance For Doubtful Accounts Receivable Effect Of Exchange Rate Changes And Other
AllowanceForDoubtfulAccountsReceivableEffectOfExchangeRateChangesAndOther
12000000 USD
CY2018 mmc Allowance For Doubtful Accounts Receivable Effect Of Exchange Rate Changes And Other
AllowanceForDoubtfulAccountsReceivableEffectOfExchangeRateChangesAndOther
-8000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-180000000 USD
CY2020 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-125000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-55000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-492000000 USD
CY2019 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-84000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-408000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
559000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
559000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-2000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-1000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-1000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-161000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-37000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-124000000 USD
CY2020 mmc Other Comprehensive Income Loss Finalizationof Pensionand Other Postretirement Benefit Plan Valuation Effectof Settlement Before Tax
OtherComprehensiveIncomeLossFinalizationofPensionandOtherPostretirementBenefitPlanValuationEffectofSettlementBeforeTax
3000000 USD
CY2020 mmc Other Comprehensive Income Loss Finalizationof Pensionand Other Postretirement Benefit Plan Valuation Effectof Settlement Tax
OtherComprehensiveIncomeLossFinalizationofPensionandOtherPostretirementBenefitPlanValuationEffectofSettlementTax
1000000 USD
CY2020 mmc Other Comprehensive Income Loss Finalizationof Pensionand Other Postretirement Benefit Plan Valuation Effectof Settlement Netof Tax
OtherComprehensiveIncomeLossFinalizationofPensionandOtherPostretirementBenefitPlanValuationEffectofSettlementNetofTax
2000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
162000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
37000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
125000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax
-772000000 USD
CY2020 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
-177000000 USD
CY2020 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-595000000 USD
CY2020 mmc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Foreign Currency Transactionand Translation Adjustment Before Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansForeignCurrencyTransactionandTranslationAdjustmentBeforeTax
-163000000 USD
CY2020 mmc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Foreign Currency Transactionand Translation Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansForeignCurrencyTransactionandTranslationAdjustmentTax
-28000000 USD
CY2020 mmc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Foreign Currency Transactionand Translation Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansForeignCurrencyTransactionandTranslationAdjustmentNetofTax
-135000000 USD
CY2020 mmc Other Comprehensive Income Loss Adjustment From Mergerof Pension Plans Pensionand Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossAdjustmentFromMergerofPensionPlansPensionandPostretirementBenefitPlansBeforeTax
-11000000 USD
CY2020 mmc Other Comprehensive Income Loss Adjustment From Mergerof Pension Plans Pensionand Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossAdjustmentFromMergerofPensionPlansPensionandOtherPostretirementBenefitPlansTax
-2000000 USD
CY2020 mmc Other Comprehensive Income Loss Adjustment From Mergerof Pension Plans Pensionand Other Postretirement Benefit Plans Netof Tax
OtherComprehensiveIncomeLossAdjustmentFromMergerofPensionPlansPensionandOtherPostretirementBenefitPlansNetofTax
-9000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
784000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
170000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
614000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-225000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-170000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-55000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
148000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-3000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
151000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-2000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-1000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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143000000 USD
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CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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42000000 USD
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183000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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25000000 USD
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116000000 USD
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CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y
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0.0153
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0.0182
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