2024 Q4 Form 10-Q Financial Statement

#000006270924000092 Filed on October 17, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $5.697B
YoY Change 5.85%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.442B
YoY Change 4.72%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $359.0M
YoY Change 99.44%
% of Gross Profit
Operating Expenses $4.589B
YoY Change 4.63%
Operating Profit $1.108B
YoY Change 11.24%
Interest Expense -$141.0M
YoY Change -197.24%
% of Operating Profit -12.73%
Other Income/Expense, Net $68.00M
YoY Change 9.68%
Pretax Income $1.035B
YoY Change 11.29%
Income Tax $283.0M
% Of Pretax Income 27.34%
Net Earnings $747.0M
YoY Change 2.33%
Net Earnings / Revenue 13.11%
Basic Earnings Per Share $1.52
Diluted Earnings Per Share $1.51
COMMON SHARES
Basic Shares Outstanding 491.1M shares 491.8M shares
Diluted Shares Outstanding 496.0M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.798B
YoY Change -87.79%
Cash & Equivalents $2.398B $1.798B
Short-Term Investments
Other Short-Term Assets $1.287B $1.143B
YoY Change -89.25% 10.97%
Inventory
Prepaid Expenses
Receivables $7.422B
Other Receivables $0.00
Total Short-Term Assets $22.12B $22.29B
YoY Change 1.7% 0.03%
LONG-TERM ASSETS
Property, Plant & Equipment $859.0M $884.0M
YoY Change -64.55% 2.91%
Goodwill $23.31B $18.24B
YoY Change 35.26% 9.49%
Intangibles
YoY Change
Long-Term Investments $257.0M $275.0M
YoY Change -3.38% 5.77%
Other Assets $1.730B $1.626B
YoY Change -56.73% 6.14%
Total Long-Term Assets $34.36B $27.58B
YoY Change 30.75% 7.22%
TOTAL ASSETS
Total Short-Term Assets $22.12B $22.29B
Total Long-Term Assets $34.36B $27.58B
Total Assets $56.48B $49.86B
YoY Change 17.6% 3.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.099B
YoY Change -1.4%
Accrued Expenses $3.098B
YoY Change 5.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $519.0M $518.0M
YoY Change -67.94% -72.27%
Total Short-Term Liabilities $19.52B $19.60B
YoY Change -1.4% -4.86%
LONG-TERM LIABILITIES
Long-Term Debt $19.43B $12.33B
YoY Change 64.03% 4.66%
Other Long-Term Liabilities $1.265B $1.396B
YoY Change -68.54% 13.87%
Total Long-Term Liabilities $20.69B $13.73B
YoY Change 30.43% 5.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.52B $19.60B
Total Long-Term Liabilities $20.69B $13.73B
Total Liabilities $40.21B $33.33B
YoY Change 12.76% -0.84%
SHAREHOLDERS EQUITY
Retained Earnings $25.31B $24.52B
YoY Change 11.19% 11.42%
Common Stock $1.931B $1.850B
YoY Change 7.1% 8.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.88B
YoY Change
Total Liabilities & Shareholders Equity $56.48B $49.86B
YoY Change 17.6% 3.88%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $747.0M
YoY Change 2.33%
Depreciation, Depletion And Amortization $359.0M
YoY Change 99.44%
Cash From Operating Activities $1.912B
YoY Change 5.64%
INVESTING ACTIVITIES
Capital Expenditures $73.00M
YoY Change -34.82%
Acquisitions
YoY Change
Other Investing Activities -$320.0M
YoY Change -3.03%
Cash From Investing Activities -$393.0M
YoY Change -11.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.436B
YoY Change -245.34%
NET CHANGE
Cash From Operating Activities 1.912B
Cash From Investing Activities -393.0M
Cash From Financing Activities -1.436B
Net Change In Cash 83.00M
YoY Change -96.48%
FREE CASH FLOW
Cash From Operating Activities $1.912B
Capital Expenditures $73.00M
Free Cash Flow $1.839B
YoY Change 8.3%

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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 pursue 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 advice, 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, reshape retirement and investment outcomes, and unlock health and well-being for a changing workforce. Oliver Wyman Group serves as a critical strategic, economic and brand advisor to private sector and governmental clients.</span></div>
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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 pursue 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 advice, 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, reshape retirement and investment outcomes, and unlock health and well-being for a changing workforce. Oliver Wyman Group serves as a critical strategic, economic and brand advisor to private sector and governmental clients.</span></div>
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CommonStockDividendsPerShareCashPaid
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CommonStockDividendsPerShareCashPaid
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CommonStockDividendsPerShareCashPaid
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CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Operating Income Loss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18391000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17182000000 usd

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