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Segment Information | 3 Months Ended
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Mar. 31, 2023
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, in the Company’s 2022 Form 10-K. Segment performance is evaluated based on segment operating income, which includes directly related expenses, and charges or credits related to restructuring 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 for the three months ended March 31, 2023 and 2022 is as follows:
| Three Months Ended March 31, |  |
(In millions) | Revenue |  | Operating Income (Loss) |  |  |  |
2023 – |  |  |  |  |  |  |
Risk and Insurance Services | $ | 3,906 |  | (a) | $ | 1,395 |  |  |  |  |
Consulting | 2,031 |  | (b) | 411 |  |  |  |  |
Total Operating Segments | 5,937 |  |  | 1,806 |  |  |  |  |
Corporate/Eliminations | (13) |  |  | (80) |  |  |  |  |
Total Consolidated | $ | 5,924 |  |  | $ | 1,726 |  |  |  |  |
2022 – |  |  |  |  |  |  |
Risk and Insurance Services | $ | 3,549 |  | (a) | $ | 1,121 |  |  |  |  |
Consulting | 2,010 |  | (b) | 392 |  |  |  |  |
Total Operating Segments | 5,559 |  |  | 1,513 |  |  |  |  |
Corporate/Eliminations | (10) |  |  | (68) |  |  |  |  |
Total Consolidated | $ | 5,549 |  |  | $ | 1,445 |  |  |  |  |
(a) Includes interest income on fiduciary funds of $91 million and $4 million in 2023 and 2022, respectively. Revenue in 2022 also includes the loss on deconsolidation of the Russian businesses of $27 million. (b) Includes inter-segment revenue of $13 million and $10 million in 2023 and 2022, respectively. Revenue in 2023 also includes the loss on sale of a small individual financial advisory business in Canada of $19 million. Revenue in 2022 includes the loss on deconsolidation of the Russian businesses of $12 million. Details of operating segment revenue for the three months ended March 31, 2023 and 2022 are as follows:
|  |  | Three Months Ended March 31,
(In millions) |  |  |  |  | 2023 |  | 2022
Risk and Insurance Services |  |  |  |  |  |  |
Marsh |  |  |  |  | $ | 2,800 |  |  | $ | 2,549 |
Guy Carpenter |  |  |  |  | 1,106 |  |  | 1,000 |
Total Risk and Insurance Services |  |  |  |  | 3,906 |  |  | 3,549 |
Consulting |  |  |  |  |  |  |
Mercer |  |  |  |  | 1,344 |  |  | 1,343 |
Oliver Wyman Group |  |  |  |  | 687 |  |  | 667 |
Total Consulting |  |  |  |  | 2,031 |  |  | 2,010 |
Total Operating Segments |  |  |  |  | 5,937 |  |  | 5,559 |
Corporate Eliminations |  |  |  |  | (13) |  |  | (10) |
Total |  |  |  |  | $ | 5,924 |  |  | $ | 5,549 |

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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 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
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