XML 40 R26.htm IDEA: XBRL DOCUMENT
v3.22.4

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2022
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 restructuring costs but not the Company’s corporate-level expenses. 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 Years Ended December 31, (In millions) | Revenue |  | Operating Income (Loss) |  | Total Assets |  | Depreciation and Amortization |  | Capital Expenditures
2022 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 12,645 |  | (a) | $ | 3,089 |  |  | $ | 22,776 |  | (c) | $ | 469 |  |  | $ | 283 |
Consulting | 8,139 |  | (b) | 1,553 |  |  | 10,032 |  | (d) | 158 |  |  | 109 |
Total Segments | 20,784 |  |  | 4,642 |  |  | 32,808 |  |  | 627 |  |  | 392 |
Corporate/Eliminations | (64) |  |  | (362) |  |  | 646 |  | (e) | 92 |  |  | 78 |
Total Consolidated | $ | 20,720 |  |  | $ | 4,280 |  |  | $ | 33,454 |  |  | $ | 719 |  |  | $ | 470 |
2021 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 12,085 |  | (a) | $ | 3,080 |  |  | $ | 21,996 |  | (c) | $ | 505 |  |  | $ | 214 |
Consulting | 7,789 |  | (b) | 1,504 |  |  | 10,346 |  | (d) | 171 |  |  | 109 |
Total Segments | 19,874 |  |  | 4,584 |  |  | 32,342 |  |  | 676 |  |  | 323 |
Corporate/Eliminations | (54) |  |  | (272) |  |  | 2,046 |  | (e) | 71 |  |  | 83 |
Total Consolidated | $ | 19,820 |  |  | $ | 4,312 |  |  | $ | 34,388 |  |  | $ | 747 |  |  | $ | 406 |
2020 – |  |  |  |  |  |  |  |  |
Risk and Insurance Services | $ | 10,337 |  | (a) | $ | 2,346 |  |  | $ | 20,612 |  | (c) | $ | 500 |  |  | $ | 170 |
Consulting | 6,976 |  | (b) | 994 |  |  | 9,571 |  | (d) | 174 |  |  | 107 |
Total Segments | 17,313 |  |  | 3,340 |  |  | 30,183 |  |  | 674 |  |  | 277 |
Corporate/Eliminations | (89) |  |  | (274) |  |  | 2,866 |  | (e) | 67 |  |  | 71 |
Total Consolidated | $ | 17,224 |  |  | $ | 3,066 |  |  | $ | 33,049 |  |  | $ | 741 |  |  | $ | 348 |
(a) Includes inter-segment revenue of $5 million in each of 2022, 2021 and 2020, interest income on fiduciary funds of $120 million, $15 million and $46 million in 2022, 2021 and 2020, respectively, and equity method income of $12 million, $31 million and $27 million in 2022, 2021 and 2020, respectively. Revenue in 2022 also includes the loss on deconsolidation of the Russian businesses of $27 million. Revenue in 2021 includes the gain on the consolidation of Marsh India of $267 million and a net gain on disposition of business of approximately $50 million. (b) Includes inter-segment revenue of $59 million, $49 million and $84 million in 2022, 2021 and 2020, respectively, a nd equity method income of $1 million in 2022 and $5 million in 2020, respectively. Revenue in 2022, also includes a net gain on the sale of the Mercer U.S. affinity business of $112 million, partially offset by the loss on deconsolidation of the Russian businesses of $12 million. (c) Includes equity method investments of $50 million, $53 million and $165 million at December 31, 2022, 2021 and 2020, respectively. (d) Includes equity method investments of $6 million at December 31, 2022 and $5 million at December 31, 2021 and 2020. (e) Corporate assets primarily include insuran ce 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) | 2022 |  | 2021 |  | 2020
Risk and Insurance Services |  |  |  |  |
Marsh | $ | 10,585 |  |  | $ | 10,214 |  |  | $ | 8,628 |
Guy Carpenter | 2,060 |  |  | 1,871 |  |  | 1,709 |
Total Risk and Insurance Services | 12,645 |  |  | 12,085 |  |  | 10,337 |
Consulting |  |  |  |  |
Mercer | 5,345 |  |  | 5,254 |  |  | 4,928 |
Oliver Wyman Group | 2,794 |  |  | 2,535 |  |  | 2,048 |
Total Consulting | 8,139 |  |  | 7,789 |  |  | 6,976 |
Total Segments | 20,784 |  |  | 19,874 |  |  | 17,313 |
Corporate/Eliminations | (64) |  |  | (54) |  |  | (89) |
Total | $ | 20,720 |  |  | $ | 19,820 |  |  | $ | 17,224 |
Information by geographic area is as follows:
For the Years Ended December 31,
(In millions) | 2022 |  | 2021 |  | 2020
Revenue |  |  |  |  |
United States | $ | 10,215 |  | (a) | $ | 9,343 |  |  | $ | 8,168 |
United Kingdom | 3,114 |  |  | 3,130 |  | (c) | 2,818 |
Continental Europe | 3,223 |  | (b) | 3,219 |  |  | 2,881 |
Asia Pacific | 2,537 |  |  | 2,617 |  | (d) | 2,093 |
Other | 1,695 |  |  | 1,565 |  |  | 1,353 |
| 20,784 |  |  | 19,874 |  |  | 17,313 |
Corporate/Eliminations | (64) |  |  | (54) |  |  | (89) |
Total | $ | 20,720 |  |  | $ | 19,820 |  |  | $ | 17,224 |
(a) Revenue in 2022 includes a net gain from the sale of the Mercer U.S. affinity business of $112 million. (b) Revenue in 2022 includes the loss on deconsolidation of the Company's Russian businesses at Marsh and Oliver Wyman of $27 million and $12 million, respectively. (c) Revenue in 2021 includes a net gain on the disposition of businesses of approximately $50 million. (d) Revenue in 2021 includes gain on the consolidation of Marsh India of $267 million.
For the Years Ended December 31,
(In millions) | 2022 |  | 2021 |  | 2020
Fixed Assets, Net |  |  |  |  |
United States | $ | 473 |  |  | $ | 484 |  |  | $ | 492 |
United Kingdom | 166 |  |  | 116 |  |  | 115 |
Continental Europe | 68 |  |  | 68 |  |  | 74 |
Asia Pacific | 81 |  |  | 96 |  |  | 105 |
Other | 83 |  |  | 83 |  |  | 70 |
Total | $ | 871 |  |  | $ | 847 |  |  | $ | 856 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration