2023 Q3 Form 10-Q Financial Statement
#000006270923000075 Filed on July 20, 2023
Income Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| Revenue | $5.382B | $5.876B |
| YoY Change | 12.83% | 9.24% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $3.287B | $3.337B |
| YoY Change | 12.45% | 10.86% |
| % of Gross Profit | ||
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $180.0M | $178.0M |
| YoY Change | 6.51% | 5.95% |
| % of Gross Profit | ||
| Operating Expenses | $4.386B | $4.354B |
| YoY Change | 10.23% | 8.44% |
| Operating Profit | $996.0M | $1.457B |
| YoY Change | 25.92% | 6.82% |
| Interest Expense | $145.0M | -$133.0M |
| YoY Change | 22.88% | -216.67% |
| % of Operating Profit | 14.56% | -9.13% |
| Other Income/Expense, Net | $62.00M | $60.00M |
| YoY Change | 8.77% | 1.69% |
| Pretax Income | $930.0M | $1.384B |
| YoY Change | 26.88% | 5.49% |
| Income Tax | $192.0M | $337.0M |
| % Of Pretax Income | 20.65% | 24.35% |
| Net Earnings | $730.0M | $1.035B |
| YoY Change | 33.7% | 7.03% |
| Net Earnings / Revenue | 13.56% | 17.61% |
| Basic Earnings Per Share | $1.48 | $2.09 |
| Diluted Earnings Per Share | $1.47 | $2.07 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 494.0M shares | 494.7M shares |
| Diluted Shares Outstanding | 499.0M shares | 499.0M shares |
Balance Sheet
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $14.73B | $12.74B |
| YoY Change | 1736.53% | 1300.99% |
| Cash & Equivalents | $2.901B | $12.74B |
| Short-Term Investments | ||
| Other Short-Term Assets | $1.030B | $703.0M |
| YoY Change | 8.08% | -27.82% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $6.918B | $7.364B |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $22.28B | $20.80B |
| YoY Change | 194.15% | 154.65% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $859.0M | $2.439B |
| YoY Change | -0.69% | 182.62% |
| Goodwill | $16.66B | $16.62B |
| YoY Change | 6.93% | 4.12% |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $260.0M | $249.0M |
| YoY Change | 17.12% | 6.87% |
| Other Assets | $1.532B | $3.947B |
| YoY Change | 10.77% | 169.24% |
| Total Long-Term Assets | $25.72B | $25.76B |
| YoY Change | 5.2% | 1.95% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $22.28B | $20.80B |
| Total Long-Term Assets | $25.72B | $25.76B |
| Total Assets | $48.00B | $46.57B |
| YoY Change | 49.89% | 39.25% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $3.143B | $3.137B |
| YoY Change | 8.27% | 3.57% |
| Accrued Expenses | $2.935B | $2.330B |
| YoY Change | 8.95% | 4.58% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $508.0M |
| YoY Change | -100.0% | -46.19% |
| Long-Term Debt Due | $1.868B | $1.867B |
| YoY Change | 408.99% | 408.72% |
| Total Short-Term Liabilities | $20.61B | $19.81B |
| YoY Change | 182.57% | 182.4% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $11.78B | $10.25B |
| YoY Change | 13.29% | -2.29% |
| Other Long-Term Liabilities | $1.226B | $4.367B |
| YoY Change | -4.29% | 187.11% |
| Total Long-Term Liabilities | $13.01B | $14.61B |
| YoY Change | 11.36% | 21.7% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $20.61B | $19.81B |
| Total Long-Term Liabilities | $13.01B | $14.61B |
| Total Liabilities | $33.61B | $34.61B |
| YoY Change | 77.17% | 81.9% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $22.01B | $21.98B |
| YoY Change | 10.94% | 10.56% |
| Common Stock | $1.711B | $1.635B |
| YoY Change | 2.33% | 1.87% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $11.41B | $11.96B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $48.00B | $46.57B |
| YoY Change | 49.89% | 39.25% |
Cashflow Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $730.0M | $1.035B |
| YoY Change | 33.7% | 7.03% |
| Depreciation, Depletion And Amortization | $180.0M | $178.0M |
| YoY Change | 6.51% | 5.95% |
| Cash From Operating Activities | $1.810B | $1.484B |
| YoY Change | 30.87% | 15.76% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $112.0M | $98.00M |
| YoY Change | -187.5% | -186.73% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$330.0M | -$35.00M |
| YoY Change | -1534.78% | -350.0% |
| Cash From Investing Activities | -$442.0M | -$133.0M |
| YoY Change | 320.95% | 34.34% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 988.0M | -546.0M |
| YoY Change | -310.21% | 52.94% |
| NET CHANGE | ||
| Cash From Operating Activities | 1.810B | 1.484B |
| Cash From Investing Activities | -442.0M | -133.0M |
| Cash From Financing Activities | 988.0M | -546.0M |
| Net Change In Cash | 2.356B | 805.0M |
| YoY Change | 191.58% | -2.54% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $1.810B | $1.484B |
| Capital Expenditures | $112.0M | $98.00M |
| Free Cash Flow | $1.698B | $1.386B |
| YoY Change | 12.38% | -0.65% |
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Nature of Operations <div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Marsh & McLennan Companies, Inc., and its consolidated subsidiaries (the "Company"), a global professional services firm, is organized based on the different services that it offers. Under this structure, the Company’s two business segments are Risk and Insurance Services and Consulting.</span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Risk and Insurance Services segment ("RIS") includes risk management activities (risk advice, risk transfer, and risk control and mitigation solutions) as well as insurance and reinsurance broking and services for businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Company conducts business in this segment through Marsh and Guy Carpenter. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and identify and capitalize on emerging opportunities.</span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Consulting segment includes health, wealth and career solutions and products, and specialized management, strategic, economic and brand consulting services. The Company conducts business in this segment through Mercer and Oliver Wyman Group. Mercer delivers advice and technology-driven solutions that help organizations redefine the future of work, shape retirement and investment outcomes, and advance health and well-being for a changing workforce. Oliver Wyman Group serves as critical strategic, economic and brand advisor to private sector and governmental clients.</span></div> | ||
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506000000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
499000000 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
508000000 | shares | |
| CY2023Q2 | mmc |
Average Share Price Common Stock
AverageSharePriceCommonStock
|
177.33 | |
| CY2022Q2 | mmc |
Average Share Price Common Stock
AverageSharePriceCommonStock
|
160.43 | |
| mmc |
Average Share Price Common Stock
AverageSharePriceCommonStock
|
172.13 | ||
| mmc |
Average Share Price Common Stock
AverageSharePriceCommonStock
|
158.96 | ||
| mmc |
Business Combination Consideration Transferred Assets Acquired
BusinessCombinationConsiderationTransferredAssetsAcquired
|
364000000 | usd | |
| mmc |
Business Combination Consideration Transferred Assets Acquired
BusinessCombinationConsiderationTransferredAssetsAcquired
|
164000000 | usd | |
| mmc |
Business Combination Acquisition Related Deposit
BusinessCombinationAcquisitionRelatedDeposit
|
0 | usd | |
| mmc |
Business Combination Acquisition Related Deposit
BusinessCombinationAcquisitionRelatedDeposit
|
24000000 | usd | |
| mmc |
Business Combination Consideration Transferred Fiduciary Liabilities Assumed
BusinessCombinationConsiderationTransferredFiduciaryLiabilitiesAssumed
|
1000000 | usd | |
| mmc |
Business Combination Consideration Transferred Fiduciary Liabilities Assumed
BusinessCombinationConsiderationTransferredFiduciaryLiabilitiesAssumed
|
2000000 | usd | |
| us-gaap |
Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
|
63000000 | usd | |
| us-gaap |
Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
|
24000000 | usd | |
| mmc |
Business Combination Contingentand Deferred Consideration
BusinessCombinationContingentandDeferredConsideration
|
8000000 | usd | |
| mmc |
Business Combination Contingentand Deferred Consideration
BusinessCombinationContingentandDeferredConsideration
|
11000000 | usd | |
| mmc |
Payments To Acquire Businesses Net Of Cash Acquired And Cash Held In A Fiduciary Capacity Acquired
PaymentsToAcquireBusinessesNetOfCashAcquiredAndCashHeldInAFiduciaryCapacityAcquired
|
292000000 | usd | |
| mmc |
Payments To Acquire Businesses Net Of Cash Acquired And Cash Held In A Fiduciary Capacity Acquired
PaymentsToAcquireBusinessesNetOfCashAcquiredAndCashHeldInAFiduciaryCapacityAcquired
|
151000000 | usd | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
245000000 | usd | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
215000000 | usd | |
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
504000000 | usd | |
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
437000000 | usd | |
| mmc |
Paymentof Contingent Consideration
PaymentofContingentConsideration
|
41000000 | usd | |
| mmc |
Paymentof Contingent Consideration
PaymentofContingentConsideration
|
18000000 | usd | |
| mmc |
Proceeds From Contingent Consideration Prior Period Dispositions
ProceedsFromContingentConsiderationPriorPeriodDispositions
|
1000000 | usd | |
| mmc |
Proceeds From Contingent Consideration Prior Period Dispositions
ProceedsFromContingentConsiderationPriorPeriodDispositions
|
0 | usd | |
| mmc |
Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Includedin Earnings Net
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedinEarningsNet
|
-17000000 | usd | |
| mmc |
Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Includedin Earnings Net
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedinEarningsNet
|
-27000000 | usd | |
| mmc |
Adjustments And Payments Related To Contingent Consideration
AdjustmentsAndPaymentsRelatedToContingentConsideration
|
23000000 | usd | |
| mmc |
Adjustments And Payments Related To Contingent Consideration
AdjustmentsAndPaymentsRelatedToContingentConsideration
|
-9000000 | usd | |
| mmc |
Payments For Previous Acquisition Contingent Consideration
PaymentsForPreviousAcquisitionContingentConsideration
|
134000000 | usd | |
| mmc |
Payments For Previous Acquisition Contingent Consideration
PaymentsForPreviousAcquisitionContingentConsideration
|
16000000 | usd | |
| mmc |
Payments For Previous Acquisition Deferred Consideration
PaymentsForPreviousAcquisitionDeferredConsideration
|
51000000 | usd | |
| mmc |
Payments For Previous Acquisition Deferred Consideration
PaymentsForPreviousAcquisitionDeferredConsideration
|
76000000 | usd | |
| mmc |
Payments For Previous Acquisition Deferredand Contingent Consideration
PaymentsForPreviousAcquisitionDeferredandContingentConsideration
|
185000000 | usd | |
| mmc |
Payments For Previous Acquisition Deferredand Contingent Consideration
PaymentsForPreviousAcquisitionDeferredandContingentConsideration
|
92000000 | usd | |
| mmc |
Proceeds From Previous Disposition Contingent Consideration
ProceedsFromPreviousDispositionContingentConsideration
|
2000000 | usd | |
| mmc |
Proceeds From Previous Disposition Contingent Consideration
ProceedsFromPreviousDispositionContingentConsideration
|
3000000 | usd | |
| us-gaap |
Stock Issued1
StockIssued1
|
296000000 | usd | |
| us-gaap |
Stock Issued1
StockIssued1
|
337000000 | usd | |
| CY2023Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
92000000 | usd |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
191000000 | usd | |
| CY2022Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
89000000 | usd |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
194000000 | usd | |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
|
161000000 | usd |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
-18000000 | usd |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
179000000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
|
-628000000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
56000000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-684000000 | usd |
| us-gaap |
Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
|
222000000 | usd | |
| us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
-37000000 | usd | |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
259000000 | usd | |
| us-gaap |
Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
|
-711000000 | usd | |
| us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
77000000 | usd | |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-788000000 | usd | |
| us-gaap |
Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
|
340000000 | usd | |
| us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
332000000 | usd | |
| mmc |
Business Combination Contingentand Deferred Consideration
BusinessCombinationContingentandDeferredConsideration
|
8000000 | usd | |
| mmc |
Payments For Previous Acquisition Deferred Consideration
PaymentsForPreviousAcquisitionDeferredConsideration
|
51000000 | usd | |
| us-gaap |
Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
|
137000000 | usd | |
| CY2023Q1 | us-gaap |
Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
|
20000000 | usd |
| us-gaap |
Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
|
158000000 | usd | |
| us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
147000000 | usd | |
| mmc |
Business Combination Contingentand Deferred Consideration
BusinessCombinationContingentandDeferredConsideration
|
11000000 | usd | |
| CY2022Q1 | us-gaap |
Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
|
-39000000 | usd |
| us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
139000000 | usd | |
| CY2022Q2 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
5478000000 | usd |
| us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
11855000000 | usd | |
| us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
11145000000 | usd | |
| CY2022Q2 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
970000000 | usd |
| us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
2294000000 | usd | |
| us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
2032000000 | usd | |
| CY2022Q2 | us-gaap |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
|
1.94 | |
| us-gaap |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
|
4.64 | ||
| us-gaap |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
|
4.05 | ||
| CY2022Q2 | us-gaap |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
|
1.92 | |
| us-gaap |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
|
4.59 | ||
| us-gaap |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
|
4.00 | ||
| CY2022Q4 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
0 | usd |
| CY2023Q2 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
0 | usd |
| CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
16251000000 | usd |
| CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
16317000000 | usd |
| us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
236000000 | usd | |
| us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
104000000 | usd | |
| us-gaap |
Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
|
134000000 | usd | |
| us-gaap |
Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
|
-458000000 | usd | |
| CY2023Q2 | us-gaap |
Goodwill
Goodwill
|
16621000000 | usd |
| CY2022Q2 | us-gaap |
Goodwill
Goodwill
|
15963000000 | usd |
| CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
4353000000 | usd |
| CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1816000000 | usd |
| CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2537000000 | usd |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
172000000 | usd | |
| CY2022Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
83000000 | usd |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
174000000 | usd | |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
174000000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
324000000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
289000000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
270000000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
266000000 | usd |
| CY2023Q2 | mmc |
Finite Lived Intangible Asset Expected Amortizationafter Year Four
FiniteLivedIntangibleAssetExpectedAmortizationafterYearFour
|
1185000000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2508000000 | usd |
| CY2023Q2 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
249000000 | usd |
| CY2022Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
215000000 | usd |
| us-gaap |
Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
|
-1000000 | usd | |
| us-gaap |
Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
|
9000000 | usd | |
| CY2023Q2 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
34000000 | usd |
| CY2022Q4 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
42000000 | usd |
| mmc |
Net Investment Hedge Threshold Percentageofthe Equity Balance
NetInvestmentHedgeThresholdPercentageoftheEquityBalance
|
0.80 | ||
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
|
33000000 | usd | |
| us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
13000000 | usd | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
178000000 | usd | |
| us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
2000000 | usd | |
| us-gaap |
Variable Lease Cost
VariableLeaseCost
|
64000000 | usd | |
| us-gaap |
Sublease Income
SubleaseIncome
|
9000000 | usd | |
| us-gaap |
Lease Cost
LeaseCost
|
235000000 | usd | |
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
194000000 | usd | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
114000000 | usd | |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
186000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
347000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
317000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
295000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
259000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
186000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
690000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2280000000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
272000000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2008000000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
309000000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1699000000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2008000000 | usd |
| CY2023Q2 | mmc |
Lessee Operating Lease Lease Not Yet Commenced Amount
LesseeOperatingLeaseLeaseNotYetCommencedAmount
|
55000000 | usd |
| CY2023Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1867000000 | usd |
| CY2022Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
268000000 | usd |
| CY2023Q2 | us-gaap |
Debt Current
DebtCurrent
|
2375000000 | usd |
| CY2022Q4 | us-gaap |
Debt Current
DebtCurrent
|
268000000 | usd |
| CY2023Q2 | us-gaap |
Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
|
0.0550 | |
| CY2023Q2 | us-gaap |
Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
|
300000000 | usd |
| CY2022Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
28000000 | usd |
| us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
600000000 | usd | |
| us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
7000000 | shares | |
| us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
1100000000 | usd | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
|
2800000 | shares | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
|
2700000 | shares | |
| CY2023Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.59 | |
| CY2023Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.59 | |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
5876000000 | usd |
| CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1457000000 | usd |
| us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
11800000000 | usd | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3183000000 | usd | |
| CY2022Q2 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
5379000000 | usd |
| CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1364000000 | usd |
| us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
10928000000 | usd | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2809000000 | usd | |
| us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
11800000000 | usd | |
| us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
10928000000 | usd |
