$MMC
MARSH & MCLENNAN COMPANIES, INC.

2023 Q4 Form 10-Q Financial Statement

#000006270923000096 Filed on October 19, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $5.554B $5.382B
YoY Change 10.59% 12.83%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.268B $3.287B
YoY Change 7.57% 12.45%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $443.0M $180.0M
YoY Change -3.7% 6.51%
% of Gross Profit
Operating Expenses $4.451B $4.386B
YoY Change 2.51% 10.23%
Operating Profit $996.0M
YoY Change 25.92%
Interest Expense -$112.0M $145.0M
YoY Change -9.68% 22.88%
% of Operating Profit 14.56%
Other Income/Expense, Net $57.00M $62.00M
YoY Change 0.0% 8.77%
Pretax Income $1.048B $930.0M
YoY Change 70.96% 26.88%
Income Tax $283.0M $192.0M
% Of Pretax Income 27.0% 20.65%
Net Earnings $756.0M $730.0M
YoY Change 62.23% 33.7%
Net Earnings / Revenue 13.61% 13.56%
Basic Earnings Per Share $1.48
Diluted Earnings Per Share $1.52 $1.47
COMMON SHARES
Basic Shares Outstanding 493.1M shares 494.0M shares
Diluted Shares Outstanding 499.0M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.358B $14.73B
YoY Change 132.87% 1736.53%
Cash & Equivalents $3.358B $2.901B
Short-Term Investments
Other Short-Term Assets $11.97B $1.030B
YoY Change 1091.24% 8.08%
Inventory
Prepaid Expenses
Receivables $6.418B $6.918B
Other Receivables $0.00 $0.00
Total Short-Term Assets $21.75B $22.28B
YoY Change 162.06% 194.15%
LONG-TERM ASSETS
Property, Plant & Equipment $2.423B $859.0M
YoY Change -0.41% -0.69%
Goodwill $17.23B $16.66B
YoY Change 6.03% 6.93%
Intangibles
YoY Change
Long-Term Investments $266.0M $260.0M
YoY Change 23.72% 17.12%
Other Assets $3.998B $1.532B
YoY Change 1.63% 10.77%
Total Long-Term Assets $26.28B $25.72B
YoY Change 4.48% 5.2%
TOTAL ASSETS
Total Short-Term Assets $21.75B $22.28B
Total Long-Term Assets $26.28B $25.72B
Total Assets $48.03B $48.00B
YoY Change 43.57% 49.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.403B $3.143B
YoY Change 3.81% 8.27%
Accrued Expenses $3.658B $2.935B
YoY Change 7.43% 8.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $1.619B $1.868B
YoY Change 504.1% 408.99%
Total Short-Term Liabilities $19.80B $20.61B
YoY Change 176.0% 182.57%
LONG-TERM LIABILITIES
Long-Term Debt $11.84B $11.78B
YoY Change 5.5% 13.29%
Other Long-Term Liabilities $4.021B $1.226B
YoY Change -6.62% -4.29%
Total Long-Term Liabilities $15.87B $13.01B
YoY Change 2.14% 11.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.80B $20.61B
Total Long-Term Liabilities $15.87B $13.01B
Total Liabilities $35.66B $33.61B
YoY Change 57.06% 77.17%
SHAREHOLDERS EQUITY
Retained Earnings $22.76B $22.01B
YoY Change 12.11% 10.94%
Common Stock $1.803B $1.711B
YoY Change 3.62% 2.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.37B $11.41B
YoY Change
Total Liabilities & Shareholders Equity $48.03B $48.00B
YoY Change 43.57% 49.89%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $756.0M $730.0M
YoY Change 62.23% 33.7%
Depreciation, Depletion And Amortization $443.0M $180.0M
YoY Change -3.7% 6.51%
Cash From Operating Activities $1.783B $1.810B
YoY Change 18.71% 30.87%
INVESTING ACTIVITIES
Capital Expenditures $119.0M $112.0M
YoY Change -215.53% -187.5%
Acquisitions
YoY Change
Other Investing Activities -$355.0M -$330.0M
YoY Change -7.55% -1534.78%
Cash From Investing Activities -$474.0M -$442.0M
YoY Change -2.67% 320.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.334B 988.0M
YoY Change 117.32% -310.21%
NET CHANGE
Cash From Operating Activities 1.783B 1.810B
Cash From Investing Activities -474.0M -442.0M
Cash From Financing Activities -2.334B 988.0M
Net Change In Cash -1.025B 2.356B
YoY Change 1637.29% 191.58%
FREE CASH FLOW
Cash From Operating Activities $1.783B $1.810B
Capital Expenditures $119.0M $112.0M
Free Cash Flow $1.664B $1.698B
YoY Change 3.68% 12.38%

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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 &amp; 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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Files In Submission

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