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Segment Information | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company is organized based on the types of services provided. Under this structure, the Company’s segments are:
▪ | Risk and Insurance Services, comprising insurance services (Marsh) and reinsurance services (Guy Carpenter); and
▪ | Consulting, comprising Mercer and Oliver Wyman Group
The accounting policies of the segments are the same as those used for the consolidated financial statements described in Note 1. Segment performance is evaluated based on segment operating income, which includes directly related expenses, and charges or credits related to integration and restructuring but not the Company’s corporate-level expenses. Segment operating income presented below reflects the change in presentation under recently issued accounting guidance for net periodic pension and postretirement benefit costs adopted on January 1, 2018. As such, segment operating income no longer includes the non-service cost components of net periodic pension and postretirement benefit costs. Revenues are attributed to geographic areas on the basis of where the services are performed. Selected information about the Company’s segments and geographic areas of operation are as follows:
For the Year Ended December 31, (In millions of dollars) | Revenue |  |  | Operating Income (Loss) |  | Total Assets |  | Depreciation and Amortization |  | Capital Expenditures
2017 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 7,630 |  | (a) | $ | 1,731 |  |  | $ | 16,490 |  |  | $ | 282 |  |  | $ | 139 |
Consulting | 6,444 |  | (b) | 1,110 |  |  | 8,200 |  |  | 129 |  |  | 88 |
Total Segments | 14,074 |  |  | 2,841 |  |  | 24,690 |  |  | 411 |  |  | 227 |
Corporate/Eliminations | (50 | ) |  | (186 | ) |  | (4,261 | ) | (c) | 70 |  |  | 75 |
Total Consolidated | $ | 14,024 |  |  | $ | 2,655 |  |  | $ | 20,429 |  |  | $ | 481 |  |  | $ | 302 |
2016 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 7,143 |  | (a) | $ | 1,581 |  |  | $ | 14,728 |  |  | $ | 248 |  |  | $ | 128 |
Consulting | 6,112 |  | (b) | 1,038 |  |  | 6,770 |  |  | 121 |  |  | 68 |
Total Segments | 13,255 |  |  | 2,619 |  |  | 21,498 |  |  | 369 |  |  | 196 |
Corporate/Eliminations | (44 | ) |  | (188 | ) |  | (3,308 | ) | (c) | 69 |  |  | 57 |
Total Consolidated | $ | 13,211 |  |  | $ | 2,431 |  |  | $ | 18,190 |  |  | $ | 438 |  |  | $ | 253 |
2015 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 6,869 |  | (a) | $ | 1,366 |  |  | $ | 13,290 |  |  | $ | 240 |  |  | $ | 136 |
Consulting | 6,064 |  | (b) | 1,014 |  |  | 6,485 |  |  | 120 |  |  | 108 |
Total Segments | 12,933 |  |  | 2,380 |  |  | 19,775 |  |  | 360 |  |  | 244 |
Corporate/Eliminations | (40 | ) |  | (196 | ) |  | (1,559 | ) | (c) | 63 |  |  | 81 |
Total Consolidated | $ | 12,893 |  |  | $ | 2,184 |  |  | $ | 18,216 |  |  | $ | 423 |  |  | $ | 325 |
(a) | Includes inter-segment revenue of $5 million in 2017 and $6 million in both 2016 and 2015, interest income on fiduciary funds of $39 million, $26 million and $21 million in 2017, 2016 and 2015, respectively, and equity method income of $14 million, $12 million and $6 million in 2017, 2016 and 2015, respectively.
(b) | Includes inter-segment revenue of $45 million, $38 million and $34 million in 2017, 2016 and 2015, respectively, interest income on fiduciary funds of $4 million, $3 million and $4 million in 2017, 2016 and 2015, respectively and equity method income of $17 million, $19 million and $21 million in 2017, 2016 and 2015, respectively.
(c) | Corporate assets primarily include insurance recoverables, pension related assets, the owned portion of the Company headquarters building and intercompany eliminations.
Details of operating segment revenue are as follows:
For the Years Ended December 31,
(In millions of dollars) | 2017 |  |  | 2016 |  |  | 2015 |
Risk and Insurance Services |  |  |  |  |
Marsh | $ | 6,433 |  |  | $ | 5,997 |  |  | $ | 5,745 |
Guy Carpenter | 1,197 |  |  | 1,146 |  |  | 1,124 |
Total Risk and Insurance Services | 7,630 |  |  | 7,143 |  |  | 6,869 |
Consulting |  |  |  |  |
Mercer | 4,528 |  |  | 4,323 |  |  | 4,313 |
Oliver Wyman Group | 1,916 |  |  | 1,789 |  |  | 1,751 |
Total Consulting | 6,444 |  |  | 6,112 |  |  | 6,064 |
Total Segments | 14,074 |  |  | 13,255 |  |  | 12,933 |
Corporate/Eliminations | (50 | ) |  | (44 | ) |  | (40 | )
Total | $ | 14,024 |  |  | $ | 13,211 |  |  | $ | 12,893 |
Information by geographic area is as follows:
For the Years Ended December 31,
(In millions of dollars) | 2017 |  |  | 2016 |  |  | 2015 |
Revenue |  |  |  |  |
United States | $ | 6,870 |  |  | $ | 6,573 |  |  | $ | 6,316 |
United Kingdom | 2,112 |  |  | 2,019 |  |  | 2,036 |
Continental Europe | 2,197 |  |  | 2,022 |  |  | 1,902 |
Asia Pacific | 1,517 |  |  | 1,363 |  |  | 1,333 |
Other | 1,378 |  |  | 1,278 |  |  | 1,346 |
| 14,074 |  |  | 13,255 |  |  | 12,933 |
Corporate/Eliminations | (50 | ) |  | (44 | ) |  | (40 | )
Total | $ | 14,024 |  |  | $ | 13,211 |  |  | $ | 12,893 |
For the Years Ended December 31,
(In millions of dollars) | 2017 |  |  | 2016 |  |  | 2015 |
Fixed Assets, Net |  |  |  |  |
United States | $ | 399 |  |  | $ | 412 |  |  | $ | 460 |
United Kingdom | 91 |  |  | 94 |  |  | 115 |
Continental Europe | 57 |  |  | 53 |  |  | 57 |
Asia Pacific | 78 |  |  | 76 |  |  | 49 |
Other | 87 |  |  | 90 |  |  | 92 |
Total | $ | 712 |  |  | $ | 725 |  |  | $ | 773 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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