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Segment Information | 12 Months Ended
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Dec. 31, 2021
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, Summary of Significant Accounting Policies. 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. Revenues are attributed to geographic areas on the basis of where the services are performed. Prior to being acquired by the Company, JLT operated in three segments: Specialty, Reinsurance and Employee Benefits. JLT operated in 41 countries, with significant revenue in the United Kingdom, Pacific, Asia and the United States. As of April 1, 2019, the historical JLT businesses were combined into MMC operations as follows: JLT Specialty is included by geography within Marsh, JLT Reinsurance is included in Guy Carpenter and the majority of JLT's Employee Benefits business was included in Mercer Health and Wealth. Selected information about the Company’s segments and geographic areas of operation are as follows:
For the Years Ended December 31, (In millions) | Revenue |  | Operating Income (Loss) |  | Total Assets |  | Depreciation and Amortization |  | Capital Expenditures
2021 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 12,085 |  | (a) | $ | 3,080 |  |  | $ | 21,996 |  | (d) | $ | 505 |  |  | $ | 214 |
Consulting | 7,789 |  | (b) | 1,504 |  |  | 10,346 |  | (e) | 171 |  |  | 109 |
Total Segments | 19,874 |  |  | 4,584 |  |  | 32,342 |  |  | 676 |  |  | 323 |
Corporate/Eliminations | (54) |  |  | (272) |  |  | 2,046 |  | (c) | 71 |  |  | 83 |
Total Consolidated | $ | 19,820 |  |  | $ | 4,312 |  |  | $ | 34,388 |  |  | $ | 747 |  |  | $ | 406 |
2020 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 10,337 |  | (a) | $ | 2,346 |  |  | $ | 20,612 |  | (d) | $ | 500 |  |  | $ | 170 |
Consulting | 6,976 |  | (b) | 994 |  |  | 9,571 |  | (e) | 174 |  |  | 107 |
Total Segments | 17,313 |  |  | 3,340 |  |  | 30,183 |  |  | 674 |  |  | 277 |
Corporate/Eliminations | (89) |  |  | (274) |  |  | 2,866 |  | (c) | 67 |  |  | 71 |
Total Consolidated | $ | 17,224 |  |  | $ | 3,066 |  |  | $ | 33,049 |  |  | $ | 741 |  |  | $ | 348 |
2019 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 9,599 |  | (a) | $ | 1,833 |  |  | $ | 26,098 |  | (d) | $ | 416 |  |  | $ | 184 |
Consulting | 7,143 |  | (b) | 1,210 |  |  | 9,722 |  | (e) | 156 |  |  | 150 |
Total Segments | 16,742 |  |  | 3,043 |  |  | 35,820 |  |  | 572 |  |  | 334 |
Corporate/Eliminations | (90) |  |  | (366) |  |  | (4,463) |  | (c) | 75 |  |  | 87 |
Total Consolidated | $ | 16,652 |  |  | $ | 2,677 |  |  | $ | 31,357 |  |  | $ | 647 |  |  | $ | 421 |
(a)2021 includes inter-segment revenue of $5 million in both 2021 and 2020 and $8 million in 2019, interest income on fiduciary funds of $15 million, $46 million and $105 million in 2021, 2020 and 2019, respectively, and equity method income of $31 million, $27 million and $25 million in 2021, 2020 and 2019. Revenue in 2021 also includes gain on the consolidation of Marsh India of $267 million and gain on disposition of business of $50 million. (b)Includes inter-segment revenue of $49 million, $84 million and $82 million in 2021, 2020 and 2019, respectively, and equity method income of $5 million and $16 million in 2020 and 2019, respectively. (c)Corporate assets primarily include insurance recoverables, pension related assets, the owned portion of the Company headquarters building and intercompany eliminations. (d)Includes equity method investments of $53 million, $165 million and $179 million at December 31, 2021, 2020 and 2019, respectively. (e)Includes equity method investments of $5 million at December 31, 2021 and 2020 and $149 million at December 31, 2019, respectively. Details of operating segment revenue are as follows:
For the Years Ended December 31,
(In millions) | 2021 |  | 2020 |  | 2019
Risk and Insurance Services |  |  |  |  |
Marsh | $ | 10,214 |  |  | $ | 8,628 |  |  | $ | 8,085 |
Guy Carpenter | 1,871 |  |  | 1,709 |  |  | 1,514 |
Total Risk and Insurance Services | 12,085 |  |  | 10,337 |  |  | 9,599 |
Consulting |  |  |  |  |
Mercer | 5,254 |  |  | 4,928 |  |  | 5,021 |
Oliver Wyman Group | 2,535 |  |  | 2,048 |  |  | 2,122 |
Total Consulting | 7,789 |  |  | 6,976 |  |  | 7,143 |
Total Segments | 19,874 |  |  | 17,313 |  |  | 16,742 |
Corporate/Eliminations | (54) |  |  | (89) |  |  | (90) |
Total | $ | 19,820 |  |  | $ | 17,224 |  |  | $ | 16,652 |
Information by geographic area is as follows:
For the Years Ended December 31,
(In millions) | 2021 |  | 2020 |  | 2019
Revenue |  |  |  |  |
United States | $ | 9,343 |  |  | $ | 8,168 |  |  | $ | 7,840 |
United Kingdom | 3,130 |  |  | 2,818 |  |  | 2,679 |
Continental Europe | 3,219 |  |  | 2,881 |  |  | 2,837 |
Asia Pacific | 2,617 |  | (a) | 2,093 |  |  | 2,001 |
Other | 1,565 |  |  | 1,353 |  |  | 1,385 |
| 19,874 |  |  | 17,313 |  |  | 16,742 |
Corporate/Eliminations | (54) |  |  | (89) |  |  | (90) |
Total | $ | 19,820 |  |  | $ | 17,224 |  |  | $ | 16,652 |
(a)Revenue in 2021 includes gain on the consolidation of Marsh India of $267 million.
For the Years Ended December 31,
(In millions) | 2021 |  | 2020 |  | 2019
Fixed Assets, Net |  |  |  |  |
United States | $ | 484 |  |  | $ | 492 |  |  | $ | 462 |
United Kingdom | 116 |  |  | 115 |  |  | 149 |
Continental Europe | 68 |  |  | 74 |  |  | 68 |
Asia Pacific | 96 |  |  | 105 |  |  | 101 |
Other | 83 |  |  | 70 |  |  | 78 |
Total | $ | 847 |  |  | $ | 856 |  |  | $ | 858 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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