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Segment Information | 3 Months Ended
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Mar. 31, 2024
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 2023 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, 2024 and 2023 is as follows:
|  |  | Three Months Ended March 31,
(In millions) |  |  |  |  | Revenue |  | Operating Income/(Loss)
2024 – |  |  |  |  |  |  |
Risk and Insurance Services |  |  |  |  | $ | 4,273 |  | (a) | $ | 1,565 |
Consulting |  |  |  |  | 2,214 |  | (b) | 432 |
Total Segments |  |  |  |  | 6,487 |  |  | 1,997 |
Corporate/Eliminations |  |  |  |  | (14) |  |  | (72) |
Total Consolidated |  |  |  |  | $ | 6,473 |  |  | $ | 1,925 |
2023 – |  |  |  |  |  |  |
Risk and Insurance Services |  |  |  |  | $ | 3,906 |  | (a) | $ | 1,395 |
Consulting |  |  |  |  | 2,031 |  | (b) | 411 |
Total Segments |  |  |  |  | 5,937 |  |  | 1,806 |
Corporate/Eliminations |  |  |  |  | (13) |  |  | (80) |
Total Consolidated |  |  |  |  | $ | 5,924 |  |  | $ | 1,726 |
(a)Includes interest income on fiduciary funds of $122 million and $91 million in 2024 and 2023, respectively. (b)Includes inter-segment revenue of $13 million in 2024 and 2023. Revenue in 2024 also includes a net gain of $21 million from the sale of Mercer's U.K. pension administration and U.S. health and benefits administration businesses. Details of operating segment revenue for the three months ended March 31, 2024 and 2023 are as follows:
|  |  | Three Months Ended March 31,
(In millions) |  |  |  |  | 2024 |  | 2023
Risk and Insurance Services |  |  |  |  |  |  |
Marsh |  |  |  |  | $ | 3,081 |  |  | $ | 2,800 |
Guy Carpenter |  |  |  |  | 1,192 |  |  | 1,106 |
Total Risk and Insurance Services |  |  |  |  | 4,273 |  |  | 3,906 |
Consulting |  |  |  |  |  |  |
Mercer |  |  |  |  | 1,425 |  |  | 1,344 |
Oliver Wyman Group |  |  |  |  | 789 |  |  | 687 |
Total Consulting |  |  |  |  | 2,214 |  |  | 2,031 |
Total Segments |  |  |  |  | 6,487 |  |  | 5,937 |
Corporate Eliminations |  |  |  |  | (14) |  |  | (13) |
Total |  |  |  |  | $ | 6,473 |  |  | $ | 5,924 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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