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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Selected information and details for MMC's operating segments | 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 | 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 | 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 Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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